In 2012, the output volume of rubber tires reached 891.67 million in China, increasing by 7.16% YOY. Among that, the output volume of radial tires totaled 460.5 million, increasing by 17.1% YOY. In terms of regions, China tire production mainly concentrated in east coast regions in 2012. The output volume of Shandong, Jiangsu and Zhejiang totaled 591 million, accounting for about 66% of the total tire output volume in China.
In 2012, the sales revenue of tire manufacturers exceeded CNY 400 billion in China. In 2012, the price of tire materials fluctuated and decreased sharply. Among that, the annual average price of natural rubber (SCR10) decreased from 33,835 CNY/ton to 25,053 CNY/ton, decreasing by 25.9% YOY; that of styrene butadiene rubber (1500) decreased from 26,808 CNY/ton to 20,519 CNY/ton, decreasing by 23.5% YOY; that of butadiene rubber (grade 1) decreased from 30,225 CNY/ton to 22,833 CNY/ton, decreasing by 24.5% YOY. The causes are as the following: 1. natural rubber supply was sufficient, but its price kept decreasing due to the influence of global slump economy; 2. prices of coal and crude oil kept low, so the price of synthetic rubber also decreased after lost cost support.
In 2012, tire price decreased due to the weak demand and decreasing price of raw materials. The annual average prices of radial tires (165/70R14) for sedan and biasply tires (7.501614PR) for light truck were 265 CNY/set and 701 CNY/set respectively, decreasing by 5.7% YOY and 12.5% YOY respectively. However, the gross margin of tire industry increased obviously because of its enlarged profit space. In 2012, the total profit of tire industry reached CNY 27.5 billion, increasing by 43.7% YOY, which was 40% higher than the growth rate of output volume. Meanwhile, the return on assets was 7.3%, increasing by 2% over 2011 with the profitability enhanced.
Many international tire giants have begun to successively enter China since the 1990s. Attracted by the low production costs in China, many multinational tire enterprises treat China as an important tire production base. China\'s advantages in huge market demand and low costs are extremely attractive for global tire investment. At present, over half of China tire market has been occupied by foreignfunded enterprises. Moreover, foreignfunded enterprises firmly occupy the domestic highend market, so their profit margins are usually twice that of China local enterprises or even more.
In China, international tire giants occupied rather huge advantages while most domestic tire enterprises are small and weak. According to the rough statistics of China research and Intelligence, the number of tire enterprises has exceeded 500 in China by the end of 2012. CRI predicts that many small and mediumsized tire enterprises will disappear (may go bankrupt or be acquired by huge tire enterprises) in the coming three to five years along with the accelerating mergers and reorganization of China tire industry.
In 2012, the output volume of automobiles was 19.2718 million in China, increasing by 4.6% YOY. Meanwhile, the sales volume was 19.3064 million, increasing by 4.3% YOY; the growth rates of output volume and that of sales volume increased by 3.8% and 1.8% over 2011. Although China has been globally the largest automobile market since 2009, its automobile reserves per capita is still extremely low. In 2012, the automobile reserves per thousand people were less than 100 units in China, which were much lower than that in developed countries (600800 units/thousand people). CRI predicts that the annual growth rate of China automobile market will remain over 5% in the next few years. Along with the constant increasing automobile reserves in China, the annual growth rate of China tire market will exceed 15%. In China automobile tire market, the demand of replacement tires is about twice that of supporting tires, accounting for over 2/3 tire market.
In 2012, the vehicle reserves for civil use were 120.89 million (including 11.45 million threewheeled cars and low speed trucks) in China, increasing by 14.3% over 2011. Replacement tire market is entering a flourishing period along with the rapid increase of automobile reserves. In such huge domestic consumption market in China, the growth rate of tire industry will increase sharply in 20132017. With integrated upstream and downstream of the tire industry chain, relative cheap energy and labor force, China tire industry still possesses great advantages over other developing countries in recent years. CRI predicts that China tire industry will keep increasing both in domestic demand and export in the next few years.
Through this report, the readers can acquire the following information:
- Current Status of China Tire Industry
- Development Status of China Tire Industry
- Current Supply & Demand Status of China Tire Industry
- Current Competition Status of China Tire Industry
- Analysis on Major Foreignfunded Enterprises and Domestic Enterprises in China Tire Market
- Trade Barriers of China Tire Export
- Development Trend of Tire Industry
- Investment Opportunities of China Tire Industry
The Following Enterprises and People are Recommended to Purchase This Report:
- Tire Manufacturers
- Automobile Manufacturers
- Upstream Enterprises engaging in Rubber, Carbon Black, Steel Cord and so on.
- Tire Import and Export Enterprises
- Investors and Research Institutes Concerned About Tire Industry
Table of Contents
1 Basic Concept of Tire Industry
1.1 Tire Definition and Classification
1.1.1 Tire Definition
1.1.2 Tire Classification
1.2 Development Process of China Tire Industry
2 Development Environment of China Tire Industry, 2012-2013
2.1 Economic Environment
2.1.1 International Economic Environment
2.1.2 China Economy
2.2 Policy Environment
2.2.1 Domestic Policy Environment
2.2.2 Trade Barriers of China Tire Industry
2.3 Operation Status of China Automobile Industry
2.3.1 Production and Consumption Status of Automobiles in China, 2008-2012
2.3.2 Forecast on Production and Consumption of Automobiles in China, 2013-2017
2.4 Overview on the Upstream of China Tire Industry
2.4.2 Carbon Black
2.4.3 Steel Cord
3 Analysis on Supply of China Tire Industry, 2008-2012
3.1 Supply Status
3.1.1 Production Capacity
3.1.1 Production Status
3.1.2 Production Status of Radial Tires
3.2 Competition Status of China Tire Industry
3.2.1 Entry and Exit Barriers
3.2.2 Competitions Between Foreign-funded Enterprises and China Native Enterprises
3.2.3 Competition Status of Segment Products
3.3 Investment Status of China Tire Industry, 2011-2013
3.3.1 Analysis on China Native Tire Enterprises
3.3.2 Investment Status of Foreign-funded Tire Enterprises in China
3.3.3 Investment Status of Industries Related to Tires in China
4 Analysis on Demand of China Tire Industry, 2008-2012
4.1 Overview on Tire Demand in China
4.1.1 Consumption Status of Automobile Tires in China, 2008-2012
4.1.2 Automobile Accessory (OEM) Market
4.1.3 Automotive Aftermarket
4.2 Forecast on Consumption Volume of Automobile Tires in China, 2013-2017
5 Analysis and Forecast on Import & Export of China Tire Industry, 2010-2017
5.1 Export Status of China Tires
5.1.1 Export Overview
5.1.2 Major Exporting Markets of China Tires
5.1.3 Forecast on Tire Export of China, 2013-2017
5.2 Import Status of China Tires
5.2.1 Import Overview
5.2.2 Major Import Sources of Tires in China
5.2.3 Major Import Varieties of Tires in China
5.2.4 Forecast on Tire Import in China, 2013-2017
5.3 International Trade Barriers of China Tire Export
5.3.2 Technological Barriers
5.3.3 Other Barriers
6 Operation Statuses of Major Multinational Enterprises in China Tire Market, 2011-2013
6.1.1 Enterprise Profile
6.1.2 Operation Status of Bridgestone in China Tire Market
6.1.3 Development Strategies of Bridgestone in China Tire Market
6.2.1 Enterprise Profile
6.2.2 Operation Status of Michelin in China Tire Market
6.2.3 Development Strategies of Michelin in China Tire Market
(The structures of 6.3-6.11 are similar to that of 6.1-6.2)
6.4 Continental AG
6.6 Sumitomo Rubber Industries, Ltd.
6.7 Yokohama Rubber
6.7.2 Operation Status of Yokohama Rubber in China Tire Market
6.8 Hankook Tires
6.9 Cheng Shin Rubber
6.10 Cooper Tires
6.11 Kumho Tire
7Analysis on Major Domestic Enterprises in China Tire Market, 2011-2013
7.1 Hangzhou Zhongce Rubber Co., Ltd.
7.1.1 Enterprise Profile
7.1.2 Operation Status
7.1.3 Advantages and Development Strategies
7.2 Giti Tire
7.2.1 Enterprise Profile
7.2.2 Operation Status
7.2.3 Advantages and Development Strategies
7.3 Triangle Group Co., Ltd.
7.4 Linglong Group
7.5 Aeolus Tyre Co., Ltd.
7.6 Double Coin Holdings Ltd.
7.7 Xingyuan Tire Group Ltd.
7.8 Qingdao Doublestar Tire Co., Ltd.
7.9 Wanda BOTO Tyre Co., Ltd.
7.10 Shandong JINYU Tire Co., Ltd.
7.11 Sailun Co., Ltd.
7.12 Guizhou Tyre Co., Ltd.
8 Forecast on Development and Investment of China Tire Industry, 2013-2017
8.1 Factors Influencing the Development of China Tire Industry
8.8.1 Favorable Factors
8.1.2 Unfavorable Factors
8.2 Forecast on Development Trend of China Tire Industry, 2013-2017
8.2.1 Supply Forecast
8.2.2 Demand Forecast
8.3 Forecast on Investment Opportunities of China Tire Industry, 2013-2017
8.3.1 Investment Opportunities on Product
8.3.2 Regional Investment Opportunities
8.4 Recommendations on Development and Investment
List of Chart
Chart Output Volume of China Tires, 2008-2012
Chart Output Volume of China Radial Tires, 2008-2012
Chart Sales Revenue of China Tire Industry, 2008-2012
Chart Major Newly-built Projects Concerning Carbon Black and Silica White in China, 2010-2013
Chart Newly-built Projects Concerning Steel Cord in China, 2010-2013
Chart Newly-built Projects Concerning Tire Manufacture in China, 2010-2013
Chart Tire Demand of China Automobile Accessory Market, 2008-2012
Chart Tire Demand of China Automobile Aftermarket, 2008-2012
Chart Export Volume and Value of China Tires, 2008-2012
Chart Top 20 Export Destinations of China Tires, 2012
Chart Top 20 Export Destinations of China Radial Tires, 2012
Chart Operation of Bridgestone, 2008-2012
Chart Operations of Michelin 2008-2012
Chart Forecast on Tire Output Volume in China, 2013-2017
Chart Forecast on Output Volume of Radial Tires in China, 2013-2017
Chart Forecast on Sales Revenue of China Tire Industry, 2013-2017