Tyres are up in the world

A recent study published by the consultant specialist, Freedonia, revealed that world demand for tyres is expected to grow by 4.3% a year until 2017, reaching 2.9 billion pieces produced. In terms of value, sales will rise by 7.9%, generating overall revenues of 276 billion dollars.
Emerging countries in the Asia-Pacific region are driving this trend (China and India in particular), representing two thirds of the world's growth. In 2012, China was the largest consumer of tyres in the world, accounting for 25% of demand, although the peak recorded in the five year period 2007-2012 may be difficult to replicate in the future, given the slowdown in the domestic car and motorbike manufacturing industry. The strongest markets include Japan and India, with India expected to take the lead, reaping advantage from the falling Japanese population and declining exports.
North America and Western Europe, on the other hand, although showing positive signs, are not expected to grow by more than 2% a year. Despite economic recovery and technological innovation introduced to the production of cars and motorbikes, the slowdown in demographic growth and the losses that have yet to be recovered from the period of recession (which saw intensive relocation to low-cost markets) prevents the market from achieving more satisfying levels. The United States is however the second largest consumer of tyres in the world.
Lastly, as regards application sectors, cars and motorbikes hold a 73% share of the market, while agricultural and industrial vehicles, and airplanes - though representing small portions of the market - show a faster dynamic trend.