ERJ staff report (DS)
Singapore - The secretary general of the International Rubber Study Group (IRSG) has predicted strong global demand for tyres through to the end of the decade./p>
Speaking as principal guest at the opening of Tyrexpo Asia 2011 in Singapore on
29 March, Dr Stephen Evans said, â€œOur forecasts point to a sustained growth and strong demand for new vehicles and tyres through to the end of the decade. Much of the extra demand will originate from China and to a lesser extend India, but from an overall perspective the years through to 2020 will be a period of opportunity for tyre makers and the replacement and service sectors.â€
Dr Evans pointed to strong growth in OE and replacement tyre sales as a result of increased vehicle production. He forecast OE passenger car tyre sales growing from 290 million units in 2010 to 400 million units by 2020 and Replacement car tyre sales moving from 760 million units in 2010 to 1.2 billion units by 2020
The eighth staging of Tyrexpo Asia opened to busy crowds at the Singapore Expo Centre. A record number of 160 international exhibitors from more than 40 countries are taking part in the largest-ever staging of the exhibition. The expo takes place over three days from 29-31 March 2011.
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Press release from ECI Intl