Report: China tire industry to grow 4%

Sydney, Australia – Chinese tire industry is expected to grow at a CAGR rate of 4% between 2017-2020, according to a market research report by WhaTech.

Published on 18 Jan, the study found that steady growth in the global car market and rapid growth in the Chinese automotive market had stimulated the market to recover slightly.

“The global tire shipment increased by 2% year-on-year to 1.963 billion units, while China’s automotive tire output edged up 1.2% to 572 million units,” the report added.

The operating rate of the Chinese market, said…

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