With the increasing awareness of global environmental protection and the rapid development of intelligent technology, green smart tires have become the focus of the rubber industry.
“For Chinese tires, it is impossible to repeat the phenomenon of multiple influencing factors improving at the same time in 2024. Most of the positives will turn negative or slow down or decrease in magnitude. The cycle of the tire industry has reached a high point, and the problem of overcapacity in the industry will become increasingly prominent. We should take countermeasures.” On March 27, at the 2024 China Rubber Conference held by the China Rubber Industry Association, Mr. Shen Jinrong, senior vice president of China Rubber Association and chairman of ZC Rubber Group, delivered a speech titled "Can China's tire industry continue the prosperity of 2023 in 2024", which aroused strong responses.
On March 19, the General Administration of Customs disclosed China’s tire export data for February 2024 and the first two months.
As of now, there are dozens of domestic tire companies worth tens of billions. Today, with the rapid development of the industry, more tire manufacturers are growing in strength with each passing day. They are full of confidence in the future and are accelerating towards the goal of 10 billion.
After a century of development, the tire industry has entered a bottleneck period that is difficult to break through from solid tires to radial tires, and there has been no major innovation. Many people in the industry believe that replacing radial tires with airless tires may be the future market trend.
Recently, Bridgestone stated that it plans to invest 207 million euros to increase the production capacity of PCR tires at its Burgos plant in Spain, especially the production capacity of large-size tires of 18 inches and above.
USTMA said March 5 that it expects total U.S. tire shipments to rise 1.1 percent to 335.7 million units this year. That's about 3.8 million units over 2023 and 3 million more units than 2019.
Recently, the Shandong Provincial Department of Industry and Information Technology and the Shandong Provincial Branch of the People's Bank of China released the "2024 Shandong Province Enterprise Technical Transformation Key Project Guidance Catalog", the total project investment is 656.16409 billion, with a planned investment of 174.70835 billion in 2024 and a financing requirement of 123.56777 billion.
China's domestic tire factories are spread across the country, including many with large production capacity. According to incomplete statistics, currently, there are 9 domestic tire factories with an annual output of more than 20 million tires.