The huge automobile stock market will provide tire companies with stable after-sales replacement demand. After years of development, the automotive industry has now entered a mature period, and the tire supporting market has also changed. According to the data of the Tire Branch of the Rubber Industry Association, the output of automobile tires in China will reach 697 million in 2021, a year-on-year increase of 9.94%.
China's automobile tire production and growth rate from 2011 to 2021
Radial tires have the advantages of fuel saving, safety and comfort, which is the direction of the development of the world's tire industry, and it is also the focus of China's tire product upgrading at that time. In order to accelerate the development of radial tires, the national and local governments have introduced preferential policies. Since 2013, the radial rate of tires in China has exceeded 90%. In 2021, China's radial tire output will reach 657 million, a year-on-year increase of 10.23%, and the radial rate of automobile tires will increase to 94.3%.
China's radial tire production and radial rate from 2011 to 2021
According to different materials, radial tires can be mainly divided into PCR and TBR. In 2021, the output of PCR in China will account for nearly 80%.
China's radial tire production structure in 2021
