The 100,000-ton off-highway tire project of Sailun (Weifang) Tire Co., Ltd. is stepping up construction. Once completed, it will become the largest off-highway tire benchmark demonstration base in the domestic industry.
According to data released by the General Administration of Customs of China, in October 2023, China's new pneumatic rubber tire exports were 690,000 tons, 48.81 million units, and 11.94969 billion yuan, an increase of 15.9%, 18.8%, and 15.4% respectively in that month compared with the same period last year.
Michelin market trend data for October
Data analysis of China's tire ranking companies in 2023 and prediction of rankings in 2024
Last year's conflict between Russia and Ukraine brought profound changes to the European tire market. Many giants sold Russian factories, causing the supply of European tires to be affected. In addition, a series of factors such as rising energy prices, supply chain restructuring, and inflation have led to the increasing popularity of low-priced tires. The market share of foreign giants in Europe has continued to decline, and Chinese tires have ushered in excellent opportunities.
After completing the task of accompanying Cambodian Prime Minister Hun Manet to attend the Belt and Road Forum for International Cooperation, Deputy Prime Minister Sun Chanthol continued to visit large Chinese companies to encourage them to invest in Cambodia. On October 21, 2023, the Vice Premier arrived in Guangzhou and met with Jing Guangjun, deputy director and general manager of Guangzhou Industrial Investment Holding Group, and visited its Wanli Tire Factory.
Since 2023, the tire market both domestic and external demand have come out of the bright data, the first three quarters of the tire start load remains high, tire production, tire export volume increased significantly year-on-year, the profits of many tire manufacturers has been significantly improved compared with last year.
The 20th China (Vietnam) Chemical Exhibition (Chinachem Expo 2023) and the 18th Vietnam International Chemical Exhibition (Vinachem Expo 2023) will be held at Saigon Convention and Exhibition Center (799 Nguyen Van Ling Street, District 7) from 15th to 17th this month.
Statistical analysis of China's natural and synthetic rubber import data in October 2023: The import volume was unchanged from the same period last year.