Top 10 Chinese tire makers recorded 6% decline in 2022 sales
8 Sep 2023
CRIA figures reflect the effect of Covid, market development on Chinese producers
London – Sales among the 10 largest China-based tire makers fell by 5.8% year-on-year in 2022: largely reflecting the toll taken by Covid restrictions and related market impacts on domestic producers.
That is according to an ERJ comparative analysis of data supplied by the China Rubber Industry Association (CRIA) for annual revenues recorded by the leading players for the last two years.
Sales declines in 2022 included a 12.5% year-on-year reduction at Zhongce Rubber Co. Ltd (ZC Rubber), which nevertheless retained its clear leadership position in the sector.
There was, however, considerable change elsewhere in the rankings, with Sailun Tyre Co. Ltd leapfrogging Shandong Linglong Rubber Co. Ltd, helped by a 10.5% increase in sales versus 2021.
Meanwhile, 1.6% sales growth enabled Double Coin Holdings Ltd to take fourth position from Triangle Group Co. Ltd, which saw its sales dip by 5.6% compared to the prior-year level.
Also swapping places, Guizhou Tyre Co. Ltd moved into seventh position despite 6.8% lower revenues in 2022 – replacing Qingdao Doublestar Industrial Co. Ltd, which dropped down a slot on a 17.0% fall in sales.
Another notable performance was recorded for Qingdao Sentury Tire Co. Ltd: jumping three slots into ninth position on the back of a 12.3% year-on-year increase in sales in 2022.
ERJ will report further on the CRIA data, which includes sales figures for the 30 largest Chinese tire makers, in European Rubber Journal magazine.
Top list of China Tire manufacturer data in 2021 and 2022