Boston, MA -- (ReleaseWire) -- 06/13/2014 -- The export of tires in China started in 1952. In early stage, major exported categories were truck tires, light truck tires and agricultural tires with diagonal structures. Currently, the exported categories contain over 1,600 varieties in 5 major series, including truck tires, light truck tires, passenger car tires, engineering industrial tires and agricultural tires with diagonal and radial structures. The export destinations expand from Southeast Asia, Middle East and Africa to developed countries and regions such as North America and Europe. China becomes the world's largest manufacturer, exporter and consumer of tires. However, the degree of dependence on foreign trade is 1/3 for tires in China.
The export volume of tires was 4.993 million tons in China in 2013, up by 13.33% YOY. The export volume of radial tires was 152 million, up by 11.9% YOY. The export value of tires exceeded USD 16,154 million in China in 2013, up by 1.7% YOY. The average sales price of tires declined as the costs of raw materials for tires decreased in China in 2013. Therefore, the growth rate of export value was far lower than that of export volume.
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The U.S.A. was the largest export destination for tires from China with the export value of USD 3.7 billion.
According to statistics, the total demand for tires in U.S. market reached 327 million in 2013 with half of them depending on import. Chinese tire enterprises benefitted from the situation. The demand for passenger car tires was the largest and reached 267 million, accounting for 82% of the total demand. Meanwhile, the demand for replacement tire of passenger car tires accounted for 61% of the total market demand. Therefore, domestic tire industry depends heavily on the U.S. market.
Most imported passenger car tires are radial tires with the scale of 15-16 inches in the U.S.A. The export price of tires in the scale range in China is 80% of the average export price of tires. The price of tire products in China is relatively low compared with other countries. The import volumes of tires from China rank the first among all scales of passenger car tires in the U.S. The YOY growth rates exceed 30% with the highest one surpassing 70%. The increasing export of tires from China to the U.S. stimulates the prosperity and development of tire export in China. However, rapid growth may be influenced by related trade policies. For instance, the Measures Affecting Imports of Certain Passenger Vehicle and Light Truck Tires from China are important trade barriers for tired exported from China to the U.S.
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