1. The demand for tire imports from Europe and the United States is large, and China's net exports lead the world
According to relevant data, in 2023, the total demand for radial tires in North America/Europe will be 428 million and 487 million respectively, accounting for 51.3% of the global total demand for radial tires, of which the demand for semi-steel radial tires for passenger cars in North America/Europe in 2023 will be 391 million and 454 million respectively, accounting for 53.7% of the global total demand for semi-steel tires, while the trend of Europe and the United States accounting for more than 50% is relatively stable, requiring a large number of tire imports. According to data, in 2023, the top ten net importing countries in the world are: the United States, the United Kingdom, Australia, Mexico, Russia, France, Canada, Germany, Saudi Arabia, and the United Arab Emirates. China leads the world with a net export of 204 million tires, while the United States is the largest net importer of tires in the world with a net import of 143 million.
2. China's leading tire companies have built factories intensively overseas, but there are still a large number of factories to be continued
Under the influence of factors such as the anti-dumping policy restrictions of European and American countries on Chinese tires and the reduction of anti-dumping tariffs on Southeast Asian companies, domestic leading tire companies have built factories intensively in Southeast Asia and other regions, but there are still a large number of factories to be continued. According to relevant data, in 2022, there will be 10 Chinese companies putting into production overseas factories, with sales of approximately 32.9 billion yuan, and the total output of radial tires will be close to 60 million, including 16.04 million full-steel tires and 43.35 million semi-steel tires; as of the beginning of 2024, there are still 11 Chinese companies overseas factories under construction, and overseas bases have also expanded from Southeast Asia to Serbia, Morocco and other European and African countries.
