03-04 Jun, 2013 - Bangkok, THAILAND
Sofitel So Bangkok
Sofitel So Bangkok
| "Evolving Market Dynamics: Strategies, Innovations & Profitability" |
2012 was a challenging year for rubber and tire industry. Concerns over the fiscal cliff issues and European debt crisis had created a wave of uncertainties. Despite this, the global automotive tire industry holds significant opportunities for industry players due to strong demand for passenger and commercial vehicles in developing countries. China and India's continued growth in automotive industry has attracted substantial investment from international player like Pirelli who is setting up its largest global tire manufacturing center by 2014 in China. What will the market size be in the next three years and at what rate will it grow?
Rising tire demand has further push for a significant growth in rubber investment in emerging markets like Indonesia and Vietnam which have contributed to the capacity development. Will prices stabilized with new plantations in these expanding markets?
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Bridgestone has revealed plans to make Thailand its production base for tires and has set aside 15 million baht for its fifth production plant. The new plant, to be constructed at the Amata Nakorn Industrial Estate in Chon Buri, will produce off-the-road radial tires in 2015 for the construction and mining vehicles as the country continues to develop. The industry leader will also be constructing two more new plants in the same industrial area to produce truck tires as well as provide research and development support for the company’s regional works.
The increase in Bridgestone’s Thailand capacity will allow production to go into exports as regional developments in Asia spur an onset in tire demands from small cars to industrial trucks. This has ignited the retreading business, driven by environmentally-conscious consumers. Mr. Shunichi Usui, New Composites Development Department General Manager of Bridgestone currently involved in innovations and technology on reducing carbon footprints in tire manufacturing and usage will present on tire technology overview as well as the upcoming challenges in this aspect at the 7th Global Rubber & Tire Markets in Bangkok this June 3-4.
Other speakers presenting include C-level executives from JK Tyre & Industries, Apollo Tyres, Reliance Industries, Goodway Rubber Industries and ORGKHIM Biochemical Holding and many more. Speaker/session details are available on CMT’s 7th Global Rubber & Tire Markets Event Page.
Please contact Ms. Maureen at maureen@cmtsp.com.sg or Tel. 65 6346 9145 for enquiries or additional information.
Read more: Bridgestone plans new tyre plant
10 May, 2013
Pirelli Tyre S.p.A. is pumping an investment of $200 million through 2014 in its Yanzhou plant to tap on the Chinese market – the company’s largest tire market. More than doubling its annual car tires capacity and boosting its truck tires capacity, the Yanzhou plant is set to become Pirelli’s largest manufacturing center across the globe.
Forecasted Yanzhou plant capacity growth
Mr. Gregorio Borgo, CEO of Pirelli Asia Pacific, highlighted that “the expansion is necessary to keep pace with the huge potential market for its tires coming from China’s surging demand for luxury and sports-utility vehicles”. In 2012, China’s passenger vehicle sales growth slowed to 7.1%, while that of luxury car surged by more than 20%. Market research has revealed that China’s luxury car demand, as well as the premium tires market, will continue to grow tremendously.
The Yanzhou plant will reinforce Pirelli’s presence in the Chinese market in line with its overall expansion strategy that leverages on the growing APAC markets, which accounted for 7% of Pirelli’s global sales and forecasted to grow at a 23% annual rate from 2012-2014 to about $850 million.
On top of the Yanzhou plant, Pirelli will also be expanding its motorcycle tire capacity in Indonesia in a joint venture with Astra Otoparts Tbk, with its annual production expected to hit 7 million units by 2016.
More timely industry updates on the rubber and tire sectors are available at CMT’s 7th Global Rubber & Tire Markets in Bangkok on 3-4 June.
Please contact Ms. Maureen at maureen@cmtsp.com.sg or Tel. 65 6346 9145 for more event information.
Read more:
Pirelli to pump $200m into Chinese plant
China plant to become Pirelli’s largest
18 Apr, 2013
Rubber demand is rising in U.S. and China, reviving the market from a surplus situation that has plagued the industry since three years ago. According to Singapore-based International Rubber Study Group (IRSG), the surplus level will drop from 179,000 metric tons this year to 153,000 tons next year, and consumption level increase from 11.6 million tons this year to 12.3 million tons next year.
The rise in demand is driven by continuous expansion in Asian countries such as China (the biggest consumer), where, according to IRSG, may climb by 7.2% this year after a 4.5% growth in 2012. Likewise, consumption in U.S. is likely to expand by 4.5% after a contraction of 6.3% in 2012.
A drop in domestic prices and slowdown in the automobile industry, however, lead to a decline in import level in January and February by India, which is the second-biggest user of rubber. Despite of this, the pent-up demand will drive consumption level, bringing its market to recovery and even the narrowing of surplus.
In view of increasing demand especially in Asia and the agreement amongst countries to limit shipments by 300,000 tons from October to March, rubber commodity price is expected to rise in 2013.
More on the rubber industry will be discussed by C-level executives at the 7th Global Rubber & Tire Markets Summit in Bangkok on 3-4 June.
For more information or enquiries on the 7th Global Rubber & Tire Markets Summit, please contact Ms. Maureen at maureen@cmtsp.com.sg or Tel. 65 6346 9145.
Read more: Rubber glut contracts from record as China, U.S. rebound
01 Mar, 2013
