China and India’s Tyre Manufacturing Growth
Recent figures from China Rubber Industry’s Association highlight the huge
growth in manufacturing capacity there. Taking 2009 production of 389 million tyres as the base line figure, tyre production rose 10.5% to 420 million in 2010; and is predicted to grow 50% in five years to 570 million tyres.
Meanwhile India’s economy is booming. The size of the domestic market is growing astronomically, so that at this stage, not a lot of production is slated for export. However, the pace of expansion is such that within five years it is predicted that India will be ranked in the top ten. The newest factory is designed to produce 10 million tyres a year- and that’s just the first stage for starters. Optimum size for a tyre plant used to be considered to be 16 million a year.