Out Now! - Tire Industry Research

T
I
Res
Report Title:
China’s Tire Industry 2015-2018
Length:
200 pages / 250 tables, charts & diagrams
Price:
Single licence: GBP 2950 / € 3950 / US$ 4950
Publisher:
Tire Industry Research
Find out more:
http://ChinaTireReport.com
Your unique insight into China’s Tire Industry
Learn about
❖❖ Tubeless truck tires
❖❖ Truck tire size changes
Out Now!
China’s Tire Industry
2015-2018
❖❖ Rim sizes and profitability
❖❖ Segmentation and profitability
❖❖ Government policies
❖❖ Legislation
❖❖ Land prices and their influence
❖❖ Case studies on Linglong and Triangle
http://ChinaTireReport.com
❖❖ Company profiles
❖❖ Tire factories in China
❖❖ Expansion plans
❖❖ Capacity
❖❖ Operating rates
Probably the biggest question in the global tire industry today
is this: How quickly will China move to high-tech tires?
Currently there are only a very limited number of tire
makers in China who make anything but low-tech, low
added-value tires. If and when the majority of the hundreds
of tire makers in the region move toward silica treads, low
mass and other high technology, that will have implications
both for global tire markets and upstream suppliers.
The latest report from Tire Industry Research (TIRes)
attempts to give comprehensive answers to that question.
Unfortunately, there is no simple answer.
The most simplistic answer is that the Chinese government
and its quasi-governmental agency the China Rubber
Industry Association (CRIA) want the transition to happen
as quickly as possible – in the next three to five years.
They are putting in place legislation to make it happen; top
management at State-controlled companies are being told
to make it happen. Banks are being instructed to make
capital available only to tire makers who want to make it
happen.
A new strategy document from the CRIA outlines in 800
Tire Industry Research
pages how the industry will develop until 2025. That
document, published in October 2014 predicts annual
growth rates of 7% until 2020 and 6% annually until 2025. It
also addresses energy conservation; water usage; reducing
reliance on fossil-fuel-derived materials; bio-sourcing of
monomers and other aspects of the industry.
The new TIRes report argues that it will be a lot more
than 5 years before the bulk of China’s tire makers have
switched to high-tech designs; silica-silane treads and
advanced reinforcement systems.
Putting a time-scale on that transition is impossible. It will
depend on a series of individual decisions by powerful men
who run some of the largest tire makers in China. China’s
tire industry is about individuals and their relationships with
other individuals.
China’s Tire Industry 2015-2018
http://ChinaTireReport.com
Who benefits from the report
This report is of key interest to those in the tire
industry supply chain, both as buyers from tire makers
and sellers into tire manufacture.
Supply Chain Professionals will benefit by learning
about latest developments in this key market.
Tire makers in the developed world and those in China
and other developing countries will learn how the
industry is developing and the steps needed to better
understand the Chinese and international markets.
Corporate management in premium tire makers will
appreciate the in-depth yet broad-based overview of
the industry — analysing strategies, distribution, pricing
and segmentation.
Contents*
What tire makers say
Tire buyers and chassis engineers in vehicle makers
and tire distribution will learn the key drivers in China
and how to spot good potential partners.
The report provides up-to-date information about
legislation, capacity, expansion plans and Government
Policies.
Suppliers to the tire industry will learn about
the development of domestic players and their
international rivals.
Doing business in China is not straightforward. This
report gives insight about how to approach business
deals with Chinese partners in China and elsewhere.
Author David Shaw’s expertise has allowed him to meet
with thought leaders around the world and bring their
wisdom to a global audience.
Quality Certification
CRIA appears to welcome
tariffs
Remuneration
Key take-aways: Chapter 03
Not just the United States
Full Financial analysis:
Nexen (Korean tire maker)
Executive Summary
India taxes China-made tires Inventory analysis
German tire wholesaler
Key take-aways:
Egyptian measures too
Development goals.
Tech King)
Cooper and Apollo
Argentina lifts tariffs on
Profitability Analysis
Aeolus
Marketing in China
TBR, PCR tires
Sensitivity analyses
What do Chinese
Targetting good business
Columbia sets minimum
Specific energy use
management think of you?
partners in China
prices
Equipment inventory
Yuelong
Marketing function
Kazakhstan,
Belarus,
Russia
New truck tire factory
TOEE Haida Tyre)
to investigate
International companies
Shengtai Tire
Company profiles
Truck tire segment
Dongying-based tire maker Recycling
Aeolus
How soon will China move
Hangzhou Zhongce
Key take-aways: Chapter 07
Company Overview
to high-tech tires?
GiTi operations in Europe
Introduction.
History
Introduction
Winning OE contracts
Environmental hazard.
Revenue Analysis
Brand promotion
Key take-aways: Chapter 01
Rubber recycling:
Tyre Factories
On line sales
China in the tire world
Legislation
Corporate Strategy
Winrun (Tire trader in
China’s tire industry.
Financial support
Brand Reputation
Guangzhou)
Truck and bus markets
Capability
Strengths
Legislation
Rubber
recycling
industry.
Vehicle markets
Threats
Truck tire markets
Shandong province.
Car markets
Technology And Innovation
Retreads are low-quality
Applications.
Time-series development
CSR Achievements
Cultural differences
Research developments
SUV, MPV shares
Cheng Shin Tire Co.
Legislation
Second hand tires
Truck markets
History
Government policies
Companies:
Factory
Legislation
Production and exports
Fuquan Rubber (Laiwu City,
Revenue Analysis
Key take-aways: Chapter 05
Shandong Province)
Industry competition
Strategy
Tax and legislation
Case study - Linglong Brand Reception
China Tire industry
Tire Industry Policy
Lingong case study
Maxxis As A Supplier
Key take-aways: Chapter 02
Limits on energy, water
Consolidated income
Innovations
China’s tire industry
Environmental standards:
Technology
Sponsorships
Current industry structure.
Energy, water limits
The main players:
Specific Energy use
Case study – Triangle Double Coin.
Company Overview
Price weakness in China
Specific water use
Employee count and profile
History
International tire makers
Enforcement
Main Business Overview
Revenue Analysis
Marketing databases
Kumho suffers
2003 – 2008
become critical
Tyre Factories
Testing and compliance
2009 – present
Leveraging Price-Mix
Corporate Strategy
Bias-play and capacity
R&D
Domestic tire makers
Brand Reputation
Tire Industry Policy (2010)
Manufacturing advantages
Over-Capacity
Strengths
Green Tire Specification
Competitive disadvantages
Land prices
Technology And Innovation
XXZB/LT-102-2014
Production flexibility
Inventories and stocks
History
Tire Industry Access CondiSales model and sales
Mergers and Acquisitions
Revenues Analysis
tions (2014)
channels
Working conditions
Factory
Marketing – domestic
Trade
Tariffs
Workers earnings
Corporate Strategy
Marketing – International
Key
take-aways:
Chapter
06
Standards + branding
Brand Reputation
Raw materials analysis
Why
tariffs?
Production quality
R&D And Innovation
Environmental analysis
Low manufacturing costs
Tread pattern database
Profile
Machinery analysis
Brazil targets car, truck
New markets
Double Happiness
R&D projects
tires
Retreading
GiTi Tire Corp
R&D spending
Impact will be significant
Exports
History
Charts and diagrams
Chapter 01: Introduction
Map of China with Provinces
Tire production in China 2013
Tire production worldwide 2013-2020
Car tire demand worldwide 2010-2035
Car tire demand (All) worldwide 2015
Car tire demand (RE) worldwide 2015
Car tire demand (OE) worldwide 2015
Truck tire demand (All) 2015
Truck tire demand (Repl.) 2015
Truck tire demand (OE) 2015
World’s top tire makers
http://ChinaTireReport.com
Tire
Industry Research
China’s top tire makers
Passenger car tire prices in China – v – Germany
Costs at top tire makers
NR price development 2012-2015
China Passenger car tire prices 2011-2014
Fragmentation in China’s tire manufacturing sector
Car, truck Tire production in China 2013
Market shares of International tire companies in
China – Car tires
Tire size development in China 2009-2018
Regional concentration of tire production
China Tire industry situation
Revenue Analysis
Factories
Corporate Strategy
Brand Reputation
GITI Quality Inspection
CSR Activities
Guizhou Tire Corp.
Profile
FINANCIALS
Outlook
Hangzhou Zhongce
Company Overview
History
Revenue Analysis
Corporate Strategy
Brand Reputation
Strengths
Threats
Factory
Jiangsu GST
Profile
Kenda Rubber
History
Revenue Analysis
Factories
Strategy
R&D
Triple-Helix Projects
undertaken by Kenda
Brand Reputation
Kenda’s Awards
(Shandong) LingLong
Company Overview
History
Revenue Analysis
Factories
Corporate Strategy
R&D Initiatives
Brand Reputation
Strengths
CSR Activities
Shandong Wanda BOTO
Profile
Summary:
Nankang Rubber Tire Co
Profile
Revenue
CSR Activities
Awards
Certifications
Duratti
Sailun
Guilin Tire
History
Hua Wu
R&D
Jixing Tire
Factory
Luntal (Luntai A)
Revenue Analysis
Pearl River Tire
Corporate Strategy
Qingdao Yellow Sea:
Brand Reputation
Shaanxi Yanchang
Certifications achieved
by Sailun
Shandong Bayi
Sentaida (Qingdao Sentury)
Shandong Fengyuan Tire
manufacturing company:
Testing
Shandong Leling Weigel
Manufacturing
Rubber CoNew Factory in Thailand
Shandong Hawk
Shandong Hengfeng
Shandong Yinbao –
Profile
Shenhua – ITR
Shandong Jinyu Group
Shenyang Peace Radial
Profile
Tire Co.
Shengtai Group
Tianjin United Tire &
Profile
Rubber
South China Tire
YongSheng group
Profile
(Zhengxing) WuYi
R&D
Zhejiang Cotan Tyre Co
Strategy & Brand
Other tire makers
Certifications
Awards & Recognition
Business in China:
TOEE Haida Tyre
practicalities
Profile
Key take-aways: Chapter 11
Financial Analysis
Chinese history
Certifications & Awards
Confucius
Subsidiaries
Silk Road
Triangle Group
Great Age of Discovery
Company Overview
Western attacks
History
Opium Wars
Revenue Analysis
Japanese atrocities
Factory
Post-War period
Corporate Strategy
Working practices in China
Brand Reputation
Comments from companies
Innovation
Chinese businessman:
R&D Initiatives
Western engineer:
CSR
Western businessman
Xingyuan Group Ltd
Western businessman:
History
Chinese businessman:
Factory
Chinese businessman
Corporate Strategy
Chinese businessman
Brand Reputation
Leadership and marketing
Strengths
R&D And Innovation
*Contents accurate at
Short profiles of tire makers 01 Jan 2015. The publisher
Beijing Capital Tire
may change the report
content as developments
Chaoyang Long March
permit.
Car parc in China 2008 – 2016
Light tire manufacturing capacity in China 2013
Vehicle sales in China 1995 – 2016
Heavy tire price development in China 2011-2014
Monthly car registrations in China 2005 – 2014
Light tire price development in China 2011-2014
SUV, MPV dominate vehicle growth in car segment
Light tire price development in UK 2011-2014
Truck sales in China 2005 – 2014
Light tire prices in China depends on rim size
Price and rim diameter compared: China, Germany Car ownership by Province
European tire makers in China: financial data
Legislation
TBR tire makers in China 2014 – exports and output
Specific Energy use targets are challenging
Car tire makers in China 2014 – exports and output
Specific Energy use by company
Radialisation rate in China 2004 – 2013
Environmental footprint of a tire-1
Car tire demand in China 2008 – 2016
Environmental footprint of a tire-2
Specific Water use targets are also challenging
What tire makers say
China tire makers add limited value
Tire production in China 2004-2015
Global brands car tire capacity in China 2013-2019 Vehicle markets
China’s Tire Industry 2015-2018
Trade Tariffs
Export exposure - China car tire makers
Tire Industry Research
http://ChinaTireReport.com
Tire Industry Research
China’s Tire Industry 2015-2018
http://ChinaTireReport.com
International brands
Domestic brands/export
Domestic brands/ domestic sales
$35000 mill
$30000 mill
$31,725m
$27,390m
$25000 mill
Qingdao Doublestar Industrial $878m
Shandong Deruibo $992m
Sailun Co. Ltd. $996m
Guizhou Tyre Co. Ltd. $1068m
Shandong Shengtai Tyre Co. $1090m
Shandong Jinyu Tyre Co. $1139m
$20000 mill
Tianjin United Tire & Rubber Co. (TUTRIC) $112m
Haoyou Tire co $120m
Beijing Shouchuang Tire Co. $201m
Shandong Bayi $201m
Shandong TaiShan $211m
Xinjiang Kunlun Tire Co. $244m
Qingdao Sentury Tire Co $287m
Chaoyang Long March Tyre Co. $316m
Sichuan Haida Tyre Group Co. $366m
Xuzhou Xugong Tyre Co. $394m
Shandong Sangong Tyre Co. Ltd. $461m
Shanxi Suanxi Tyre Co. Ltd. $571m
South China Tire & Rubber Co. $574m
Shandong Hengyu. $623m
Shandong Wanda Tyre Co. $781m
Jiangsu Tongyong Tire Ltd. $874m
158m units
PCR/LT
88m units
132m units
Sample charts
2013 total:
377m units
A wide range of charts, tables
and information boxes help
describe the state of the
2013 total:
market
and its development
100m
units
over time.
Aeolus Tyre $1408m
Xingyuan Tyre $1557m
$15000 mill
Shandong Hengfeng Tyre Co. $1580m
Double Coin Holdings $1800m
12m
Shandong Linglong Rubber $1884m
$10000 mill
TBR units
Triangle Group $2712m
35m units
53m units
GITI Tire $3756m
$5000 mill
Hangzhou Zhongce Rubber $4529m
$0 mill
Bridgestone
China
0
20
40
60
80
Tire production in China by manufacturer
Fragmentation in China’s Tire industry
100
GB29449-2012
Tire type
Maximum
energy per
ton tires*
GJ/ton
tire
All-steel radial
Semi-steel radial
Bias tire
OTR
≤495
≤530
≤645
≤900
≤14.5
≤15.53
≤18.9
≤26.4
Other
Sales/Mktg
R&D
Depreciation
Capex
Developed
China
Labour
Other Ingredients
Others
Fabric
Chemicals
Fillers
SR
India
Cost structure of tire manufacturers by region
NR
PCR production capacity in China by company
Tables and info boxes
* Energy is measured as kg coal equivalent per ton of tires; International conversion says 1 kg coal equivalent = 29.3 MJ
Definitions
Linglong tire production by tire category
Supplementary definitions
Linglong sales by replacement and OE sector
Linglong: Main customers 2011-2013
Applicability
Chapter 01: Introduction
Linglong: domestic and overseas sales
Related Standards:
State-owned and private enterprises
Linglong: export sales by country
Threshold values for Grip, noise, RR
China radial tire production forecast
China tire makers: profitability comparison
Organisations contributing to draft:
Main laws affecting China Tire sector
Linglong: revenue per tire by tire category
Threshold Value for Green Tire Rolling Resistance
Minimum capacity limits according to Tire Industry
GB/T 29042
Linglong: costs of raw materials by material
Policy
Threshold Value for Passenger Car Radial Tire Wet
Evolution of raw materials costs at Linglong
( 轮胎产业政策 )
Grip Performance
Evolution of energy costs at Linglong
China tire demand-2015
Threshold Value for Mini and Light Duty Vehicle Tire
Linglong: specific energy consumption
Tire industry profitability
Wet Grip Performance
Linglong: operating costs development 2011-2013
Company sales margins
Threshold Value for Heavy Duty Vehicle Tire Wet Grip Linglong: Top suppliers 2011-2013
China vehicle demand 2015
Performance
Linglong: Carbon Black consumption by grade
Approx tire demand in China
Proscribed raw materials
Linglong: inventory costs 2011-2013
Raw materials which should not be used in
Chapter 02: China Tire industry
Linglong: Inventory costs of finished products by
China-made tires
situation
category
Raw materials which should be limited in
Top 10 car / Light truck tire makers in China by
China Tire makers – Comparison of inventory costs
China-made
tires
capacity (2014)
Linglong: employee breakdown by speciality
Raw
materials
which
should
be
used
in
Analysing price and rim diameter
Linglong: employee breakdown by Age
China-made
tires
Cooper-Chengshan summary
Linglong R&D expenses 2011-2013
Technical
and
Administrative
Parameters
for
Green
Top 10 truck tire makers in China by capacity (2014)
Linglong: employee breakdown by qualification
Tire Clean Production
Global brands tire capacity in China
Linglong: R&D priority projects
Technical and Administrative Parameters for Green
Selected China tire factories – capacity and
Linglong: R&D projects with third party partners
Tire Clean Production
products
1. Energy and Resources Consumption requirements Linglong: Machinery inventory
Tire factories in China (with 2-digit DoT codes)
2. Product Index for Technical Features
Chapter 09: Case study – Triangle
Chapter 03: What tire makers say
3. Comprehensive Resources Utilisation Index
Triangle consolidated income statement
Cooper’s Asian Tech centre gears up for OE
4. Contaminant Index
Triangle consolidated cash flow statement
contracts
5. Process and Equipment Requirement
Triangle: Key financial indicators
Premium manufacturer sees good organic growth
6. Clean Production Administration
Triangle: financial performance - key figures
Online tire
Aims:
Triangle: Staff employment and qualifications
retailers in China
Applicability
Triangle employment development 2011-2013
Overview
Chapter 04: Vehicle markets
Triangle: major capacity investment projects
Summary:
Vehicle sales in China 2013-2014
Triangle revenues by product stream
Manufacturing
technology
Tires per vehicle – China
Revenue by product category
Energy
and
resource
consumption
Luxury car brands in China 2013
Triangle: Average price of products
Environmental
protection
China: top 100 best-selling sedans/ hatchbacks/
Triangle revenues by domestic and export sales
Safety and occupational health
coupés in the first half of 2014
Triangle: revenues by OE and replacement channels
Test track in Dongying City
China: Top 50 best-selling SUVs in the first half
Triangle Production and capacity by product stream
of 2014
Triangle main export countries by revenue
Chapter 06: Trade Tariffs
China vehicle forecasts
Triangle: main domestic customers
Anti-Dumping measures brought against the China
China: Top 20 best-selling MPVs in the first half
Triangle: main export customers
Tire Industry
of 2014
Triangle: top OE customers
A history of US trade tariffs: 2009 – 2012
Triangle: top 5 customers
Chapter 05: Legislation
A history of US trade tariffs: 2013-2015
Triangle: main suppliers
Role of the China Rubber Industries Association
Initial Preliminary countervailing duties on specific
Triangle: raw materials costs
(CRIA)
manufacturers - 24 Nov 2014
Triangle: raw material price evolution
Main policies affecting China Tire sector
Revised countervailing duties (revised data in bold)
- 22 Dec 2014
Triangle: Environmental protection spend
Standards applicable to tire manufacture in China
Brazil sunset review timetable
Triangle: fixed assets overview
Other China tire Standards (some in development)
Car tire exports from China by company
Triangle: production machinery equipment list
Access Conditions
Triangle Internal research projects
China Rubber Industry Development Strategy for Chapter 07: recycling
2016 – 2025
Triangle: external cooperative research projects
Access conditions for scrap tire utilisation industry
《中国橡胶工业强国发展战略研究》
Triangle: R&D spending
Chapter 08 – case study – Linglong:
China radial tire production forecast
Triangle: operational standards in manufacturing
Linglong financial data 2011-2013
Key Performance Indicators -Tire Industry
Triangle: biggest customer
Linglong financial summary 2011-2013
Truck tire targets for 2020
Triangle: Remuneration of senior staff
China tire makers – gross profit margin comparison
Productivity of tire workers in China
Triangle consolidated balance sheet
Linglong capacity utilisation
Truck tire targets for 2025
Triangle consolidated income statement
Linglong profitability by tire category
Passenger car tire targets for 2020
Triangle consolidated cash flow statement
Linglong revenues per tire category
CRIA ranking policy for tire makers
Triangle: company balance sheet
Linglong profitability per tire category
Passenger car tire targets for 2025
Triangle: parent company income statement
Aims:
Linglong cost price development – truck tires
Triangle Cash Flow Statement
Specific articles of the Tire Industry Policy
Linglong Cost price development – car tires
Triangle: Inventory costs (as at 31 Dec 2013)
Aims:
Linglong Cost price development – bias tires
Triangle: Costs of ongoing construction work
http://ChinaTireReport.com
Tire Industry Research
China’s Tire Industry 2015-2018
Triangle: Main government grants
Triangle inventory costs:
China Tire makers – Accounts receivable comparison
China Tire Makers: Inventory Turnover Analysis:
Triangle: profitability analysis
China Tire Makers – Profitability comparison
Triangle: profitability by segment
Triangle revenues by domestic and export sales
Triangle China sales revenues by region
Triangle: main export regions by revenue
Triangle sales by brand
Triangle: Off-take & Private brand customers
Triangle: Operating costs summary
Triangle operating costs – detailed
Triangle: profitability by segment
Triangle: profitability by domestic and export
markets
China Tire companies – Gross margin comparison
Triangle: gross margin analysis – TBR
Triangle: TBR Cost-revenue analysis by domestic &
export markets
Triangle: TBR Cost-revenue analysis by Off-take &
own brand
Triangle: PCR Gross margin analysis
Triangle: PCR Cost-revenue analysis by domestic &
export markets
Triangle: PCR Cost-revenue analysis by Off-take &
own brand
Triangle: PCR Cost-revenue analysis by Off-take &
own brand
Triangle: Bias tire Gross margin analysis
Triangle: Bias tire Cost-revenue analysis by domestic & export markets
Triangle: Bias tire Cost-revenue analysis by Off-take
& own brand
Triangle: Bias tires Cost-revenue analysis by Offtake & own brands
Triangle: sensitivity analysis selling price changes
Triangle: sensitivity analysis raw materials price
changes
China Tire companies – Key financial data
comparison
Triangle: costs summary
Triangle: Administration costs summary
Triangle: Income tax expense
Triangle: other expenses
Bias – v – radial performance comparison
Triangle: domestically-sourced equipment list
Triangle: Overseas-sourced equipment list
Triangle: TBR factory project costs
Triangle: cost-benefit analysis of new truck tire
factory
Triangle: car tire project costs
Triangle car tire project – imported equipment
Triangle car tire plant – List of buildings
Triangle: cost-benefit analysis of new Car tire
factory
Tire Industry Research
http://ChinaTireReport.com
Who should buy this report
Anyone responsible for strategic planning in the tire
industry and its extended supply chain needs to read this
report.
It sets out the strengths and weaknesses of the domestic
tire makers and their international rivals in the car
segment, the truck segment and identifies emerging
opportunities in the tire sector.
The key advantage of this report is the depth in which
Shaw tackles every branch of the China tire business,
from market shares to sales and distribution and
upstream to the technology used in factories.
A detailed analysis of top tire makers is included in
the report, as well as listings of factories and data on
segmentation and growth opportunities in SUV, Winter
and other key segments .
Methodology
This report has been researched and written by
David Shaw, recognised industry expert.
He has spent the last year talking to industry leaders
and participants about China’s Tire Industry. He has
presented to three conference in China in 2014 and met
with dozens of executives, workers and government
officials in Shandong, Shanghai and also in Europe and
other parts of Asia.
This report leverages Shaw’s vast experience with the
latest market data and insight into the world’s biggest
producer of tires.
Every day Shaw tracked the top Chinese and
international information sources for new information,
data and insight.
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or email [email protected]
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China’s Tire Industry 2015-2018
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