1. Market analysis based on China Customs export data
According to the latest export data from China Customs, China's total tire export volume will reach 850 million units in 2023, a year-on-year increase of 8.5%. Among them, automobile tires accounted for more than 60% of the total export volume, and the export value reached 20 billion US dollars. The main export destinations include the United States (accounting for 25%), the European Union (accounting for 20%), Japan (accounting for 15%) and Southeast Asian countries (accounting for 10%).
Specific data shows that the growth rate of the US market is 6.8%, the EU market is 5.5%, the Japanese market is 4.9%, and the Southeast Asian market is 9.2%. Among them, Vietnam, Thailand and Indonesia are the main markets in Southeast Asia.
2. Analysis of export data of different types of tires
Breakdown data shows that among the automobile tires exported in 2023, passenger car tires and commercial vehicle tires accounted for 55% and 35% of the total export volume respectively. It is particularly noteworthy that the export volume of green and environmentally friendly tires and high-performance tires has increased significantly, reflecting the increasing demand for energy-saving and environmentally friendly products in the international market.
1) Passenger car tires: Mainly exported to North America and the EU market, with export volume reaching 467.5 million units, a growth rate of 7.2%.
2) Commercial vehicle tires: Mainly exported to Southeast Asia and African markets, with export volume reaching 312.5 million units, a growth rate of 9.1%.
3) Green and environmentally friendly tires: Export volume reached 100 million units, with a growth rate of 15%, mainly exported to European and American markets.
4) High-performance tires: Export volume reached 85 million units, with a growth rate of 12%, mainly exported to North American and Japanese markets.
3. Analysis of the advantages of Chinese automobile tires
1) Technical advantages
Chinese automobile tire companies have continued to invest in R&D and production technology and have developed strong technological innovation capabilities. In recent years, with the popularization of automated production lines and the application of intelligent manufacturing technology, China's tire production efficiency and product quality have significantly improved. For example, in 2023, Chinese tire companies increased their R&D investment by 10%, added 50 fully automated production lines, and increased production efficiency by 20%.
2) Cost advantage
Compared with other countries, China has significant advantages in raw material supply and production cost control. Abundant natural rubber resources and a complete supply chain system enable Chinese tire companies to provide high-quality products at lower costs. For example, in 2023, the price of natural rubber in China will be 10% lower than the average price in the international market, which greatly reduces the cost of tire production.
3) Brand advantage
Through years of international operations, Chinese tire brands have established a good reputation in the global market. For example, brands such as Triangle Tire, Double Coin Tire and Zhongce Rubber enjoy high visibility and reputation in the international market. According to the 2023 brand value assessment report, Triangle Tire's brand value has reached US$2 billion, ranking among the top ten global tire brands.
4. Market opportunities in adverse trends
Despite certain uncertainties in the global economic environment, China's automotive tire export market still shows strong growth. Here are some key market opportunities:
1) Growing demand in emerging markets
With the rapid economic development of emerging markets, the demand for automobile tires in these regions has increased significantly. Especially in Southeast Asian and African countries, the increase in car ownership has driven the expansion of the tire market. For example, in 2023, car ownership in the Southeast Asian market will increase by 12%, and the African market will increase by 10%. These have brought new opportunities to China's tire exports.
2) Promotion of environmental protection regulations
The increasingly stringent requirements for environmental protection and energy saving worldwide have promoted the market demand for green and environmentally friendly tires. The innovations of Chinese tire companies in environmental protection technology have made their products more competitive in the global market. For example, in 2023, Chinese tire companies launched 50 green and environmentally friendly tires that comply with the latest EU environmental standards, and the market response has been good.
3) Product updates brought about by technology upgrades
With the development of autonomous driving technology and intelligent network connection technology, the demand for high-performance tires and smart tires will continue to increase. The investment of Chinese tire companies in these frontier fields will bring more opportunities to the future market. For example, Zhongce Rubber invested US$200 million in the research and development of smart tires in 2023 and is expected to launch its first smart tire in 2025.
5. Conclusion
To sum up, Chinese automobile tires have significant competitive advantages in the global market. Through continuous technological innovation and cost control, Chinese tire companies can not only meet existing market demand, but also find new growth points amid adverse trends. For global buyers, the Chinese automotive tire market is undoubtedly an area worthy of attention and investment.
