In recent years, with the rapid development of the automotive industry and the improvement of consumers' requirements for driving performance, the tire industry is also constantly innovating and progressing. For example, some high-end tires use advanced materials and designs to improve the performance of tires in terms of wear resistance, wet slip resistance, and safety. With the increasing awareness of environmental protection, the tire industry is also actively exploring environmentally friendly materials and manufacturing technologies to reduce energy consumption and emissions in the tire production process and reduce the impact on the environment.
First, the tire industry overview
The tire industry refers to the industry that produces, sells, repairs, and services various types of tires. These tires can be used in cars, trucks, motorcycles, bicycles, tractors, airplanes, industrial machinery, and various other means of transportation. The tire industry also includes research and development of new materials, new technologies and new designs to improve the performance and service life of tires. Key players in the industry include tire manufacturers, tire dealers, tire repair shops, tire companies, and others.
Tires are ring-shaped elastic rubber products that are grounded and rolled on various vehicles or machinery, usually composed of three parts: outer tire, inner tube and pad. There are also those that do not need an inner tube, and the inner layer of the carcass has a rubber layer with good air tightness, and it needs to be equipped with special rims. Tires are divided according to the carcass structure, which can be divided into radial tires and bias tires. The internal cord weaving arrangement direction of the radial tire is at a 90-degree angle to the tread centerline; The layers of cord of bias tires are arranged with each other at a certain angle of less than 90 degrees. According to the carcass skeleton material, radial tires are subdivided into semi-steel radial tires and all-steel radial tires. The semi-steel radial tire carcass skeleton material is fiber material, and the rest of the skeleton material is steel wire material; The skeleton material of the all-steel radial tire is steel wire material.
2. Analysis of the industrial chain of the tire industry
In the entire production chain of tires, the upstream links mainly involve key raw materials such as natural rubber, synthetic rubber, steel cord, carbon black and synthetic fibers. Among them, rubber, as the core raw material, accounts for nearly 40% of the entire tire production cost. Therefore, the fluctuation of rubber ** is directly related to the production cost of the tire manufacturing industry and has a profound impact on the final sales of tire products**.
In the midstream link, it mainly includes different types of tire products such as semi-steel radial tires, all-steel radial tires and bias tires. In the production process, these products are processed and combined with upstream raw materials to finally form tire products that meet the needs of different application fields.
Downstream in the tire industry is a huge demand for tires in various application areas. These sectors include passenger cars, trucks, construction vehicles, agricultural and forestry vehicles, industrial vehicles, aircraft, and special vehicles. These application areas are an important demand for tires, providing a broad market and development space for the tire industry.
Third, the market development status of the tire industry
According to the statistics released by the Tire Branch of the China Rubber Industry Association, China's tire production reached 69.7 billion, an increase of 10% over the previous year. Among them, the output of radial tires was 65.7 billion, a year-on-year increase of 102%。Combined with the data provided by Michelin's 2021 annual report, we can reasonably assume that the global production of tires in 2021 will be about 16400 million. In 2020, due to the impact of the epidemic, there was a significant decline in global tire consumption. However, with the increase in global vaccination rates and the effective implementation of epidemic prevention and control measures, global tire consumption rebounded to 17 in 20211.9 billion, a year-on-year increase of 900%。At the same time, the consumption of the global supporting tire market in 2021 also reached 40.7 billion, a year-on-year increase of 201%。In 2022, the global tire market size reached 1568$7.7 billion, with a projected 2023 of $162.56.1 billion US dollars, about 1 yuan3 trillion. The global tire market size is expected to reach 1925. by 2028$8.2 billion, with a compound annual growth rate (CAGR) of 345%。
As the trend towards intelligence and electrification in the automotive industry accelerates, so does the demand for a new generation of tires. EV tires need to be stronger and lighter, while providing more grip and a quieter tread pattern. This has brought huge development opportunities to the tire industry and promoted the rapid innovation and progress of the industry. According to the statistics of the market research network,In 2021, the global automotive tire market reached $120.9 billion, a year-on-year increase of 360%。The tire industry is expected to continue to maintain a good growth trend in the future. The competitiveness of Chinese tire companies in the global market continues to improve. In 2023, the overseas market share of Chinese tire companies will continue to increase, especially in the field of passenger car tires, with sales increasing by 28% year-on-year34%。There is still a lot of room for improvement in the share of Chinese tire companies in the global market.
China's tire exports and domestic demand market are also growing. In 2023, China will export semi-steel tires 28.1 billion, a year-on-year increase of 2318%;Export all-steel tires 11.4 billion, a year-on-year increase of 1331%。The global tire market is expected to be worth $280 billion by 2024, growing at a compound annual growth rate (CAGR) of $280 billion from $239 billion in 20192%。The total sales volume of the global tire industry is expected to reach 27500 million.
Fourth, the competition pattern of the tire industry
In the global tire market, the competitive landscape is diverse. With their own technical advantages, brand influence and market strategies, major tire companies occupy a place in the fierce market competition.
On the one hand, internationally renowned tire brands such as Michelin, Bridgestone and Goodyear occupy a considerable market share in the world with their strong R&D strength and brand value. These companies have a high influence in the high-end tire market, and the product line covers tires of various specifications and uses to meet the needs of different consumers.
On the other hand, some regional tire brands are also doing well in the market. They focus on specific markets and product lines, and gradually build a good reputation in the market by providing products and services that meet the needs of local consumers. These companies have shown strong competitiveness in the low-end market, attracting a large number of loyal consumers through reasonable pricing and high-quality after-sales service.
In addition to the competition between brands, the tire industry also faces challenges from raw materials**, production costs, etc. The fluctuation of raw materials such as natural rubber and synthetic rubber has a direct impact on the production cost of tire enterprises. At the same time, with the improvement of environmental protection requirements, tire companies need to continuously improve their production processes and reduce energy consumption and emissions to meet increasingly stringent environmental protection regulations.
Fifth, the development trend of the tire industry
Intelligent and green development. With the rapid development of artificial intelligence, Internet of Things and other technologies, the tire industry will usher in intelligent and green development opportunities. Enterprises can improve production efficiency and product quality by introducing advanced production equipment and technology. At the same time, promote green production technology, reduce energy consumption and pollutant emissions, and enhance the environmental protection image of enterprises.
Personalized and differentiated development. With the diversification of consumer needs, tire products also need to develop in the direction of personalization and differentiation. Enterprises can launch tire products with unique performance and appearance through R&D and innovation to meet the needs of different consumers. At the same time, by enhancing the brand image and service level, we will create a unique competitive advantage of the enterprise.
Globalization and brand development. With the in-depth development of global economic integration, the competition in the tire industry has expanded from the domestic market to the international market. Enterprises need to strengthen brand building and international development, and improve the visibility and competitiveness of products in the international market. At the same time, through international cooperation and exchanges, the introduction of international advanced technology and management experience to enhance the comprehensive strength of the enterprise.