Review of the key figures and data to emerge over the last seven days from leading players worldwide
PROJECTS
Reported
|
Company
|
Project
|
Location
|
Capex
|
Details
|
30 July
|
Jiyuan Hongxin Rubber CMT
|
Wet-mixed 'nano-rubber composite' line
|
Wulongkou Jiyuan, China
|
€6m
|
10ktpa unit plus line for silica and other nanofillers
|
28 July
|
Quencheng Silicon Chemical
|
100ktpa rice-husk silica
|
Jiangsu Binhai, China
|
Yuan900m
|
Includes Yuan200m, 32ktpa thickening agent unit
|
24 July
|
JSC Avangard
|
Build 'giant tire’ factory by Q1/28
|
Omsk, Russia
|
€450m
|
10.5k units/yr, eg for mining
|
24 July
|
Aeolus
|
Fund OTR project to add 130k units/yr ‘giant tire’ capacity
|
Jiaozuo, China
|
Yuan1.4bn
|
Convert capacity to 261k/yr OTR tires, 200k/yr TBRs
|
17 July
|
Dynasol
|
20ktpa SSBR expansion
|
Gajano, Spain
|
n/s
|
Previous capacity 120ktpa, SBS and SBC
|
Jiyuan, China-based Hongxin Rubber Composite Material Technology is to build a 10ktpa water-based full-formula wet-mixed 'nano-rubber composite' material production line – using natural concentrated latex, synthetic latex, silica, and carbon black as raw materials.
Wuxi, China-based Quencheng Silicon Chemical plans to establish a Yuan900m (€107m), 100ktpa facility to produce rice-husk silica for rubber applications, as well as a 30.2ktpa unit for the production of rubber thickening agents. The Yuan700m rice silica plant is due to be completed within 24 months, the Yuan200m thickening agent project within 18 months.
M&A and Restructuring
Hyosung Advanced Materials Corp. (HAMC) has confirmed Bain Capital Private Equity (Asia) LLC as the preferred bidder for its steel tire cord business, for the possible KRW1.5 trn (€1.0bn) deal.
The European Commission has launched an investigation into a €12bn deal by Abu Dhabi National Oil Co.’s (Adnoc) €12bn to takeover of Covestro – citing concerns over the role of subsidies from the UAE.
Yokohama Rubber Co. has acquired the remaining 22.98% stake in its Chinese conveyor belt JV Shandong Yokohama Rubber Industrial Products Co. (YRSC), making it a wholly owned subsidiary as of 18 July. YRSC of Weifang, Shandong was established in 2006 as a JV with Shandong Yuema Rubber Co., and currently employs around 240 people.
MARKETS & BUSINESS
ETRMA: Replacement tire sales development to Q2/H1 2025
In '000 units
|
Q2/25
|
vs Q2/24
|
H1/25
|
vs H1/24
|
Consumer tires*
|
51,609
|
-4%
|
110,336
|
-1%
|
of which car summer tires
|
n/s
|
-9%
|
n/s
|
-6%
|
of which car all season
|
n/s
|
-5%
|
n/s
|
+5%
|
of which car winter tires
|
n/s
|
+9%
|
n/s
|
+8%
|
Truck & bus tires
|
2,452
|
-5%
|
5,148
|
-4%
|
Agricultural tires
|
180
|
-5%
|
382
|
-5%
|
Moto & scooter tires
|
2,803
|
+2%
|
6,323
|
+5%
|
Sources: Europool ETRMA. *Consumer = Passenger car, SUVs and light commercial vehicles; n/s = not supplied
The European replacement tire market remained weak in Q2/25 amid a “challenging economic and geopolitical environment,” according to the latest data from the European Tyre and Rubber Manufacturers’ Association (ETRMA).
Financial results reported over last two weeks
Company
|
Period
|
Sales
|
YoY change
|
Earnings
|
YoY change
|
Forbo Group
|
H1/25
|
CHF547m
|
-4%
|
CHF43m
|
-30%
|
Nexen Tire
|
Q2/25
|
KRW805bn
|
+5.4%
|
KRW42.6bn*
|
-32%
|
Ceat Ltd
|
Q1 (to 30/6/25)
|
INR35.3bn
|
+10.5%
|
INR3.9bn
|
-1.7%
|
Michelin
|
H1/25
|
€13.0bn
|
-3.4%
|
€1.45bn*
|
-18.5%
|
Nokian
|
Q2/25
|
€343m
|
+5.8%
|
€26.3m*
|
+30.6%
|
Nokian
|
H1/25
|
€613.2m
|
+9.2%
|
€7.8m*
|
+56.5%
|
Datwyler
|
H1/25
|
CHF563.0m
|
-2.9%
|
CHF69.8m**
|
+2.1%
|
Trelleborg
|
Q2/25
|
SEKSEK8.6bn
|
-2.0%
|
SEK1.6bn***
|
-1%
|
Hexpol
|
Q2/25
|
SEK1.6bn
|
-8.3%
|
SEK756m**
|
-17%
|
Hexpol
|
H1/25
|
SEK10.3bn
|
-3.6%
|
SEK1.6bn**
|
-12%
|
*(Segment) operating income; **EBIT; *** EBITDA
Nexen Tire reported a 32% year-on-year decline in Q2/25 operating profit to KRW42.6bn (€26.8m), due largely to the impact of 25% US tariffs on auto parts, in place since early May. Sales grew 5.4% year-on-year to KRW805bn reflecting “strong growth trajectory.”
Sinopec produced 804kt of synthetic rubber in H1/25, marking an 18.6% increase year-on-year – outpacing gains in synthetic resin (up 12.8%) and ethylene (up 16.4%), while synthetic fibre output declined 5.1%.
Ceat Ltd reported fiscal Q1 (to 30 June) earnings down 1.7% year-on-year to INR3.86bn (€38m), while the earnings margin dropped to 10.9% from 11.5% a year earlier. First-quarter revenue, meanwhile, grew 10.5% year-on-year to INR35.3bn.
India’s tire industry is set to grow at a CAGR of 11-12% over the next decade, driven by high domestic demand, the Automotive Tyre Manufacturers Association (ATMA) forecast. During the fiscal year ended 31 March, exports rose 9% year-on-year to INR250.51bn (€2.5bn).
UK new-vehicle manufacturing declined by 11.9% year-on-year to 417,232 units in H1/25, reported the Society of Motor Manufacturers and Traders. Car output fell by 7.3% year-on-year to 385,810 units, while restructuring at CV production fell 45.4% to 31,422 units.
SHARE PRICES
Leading tire manufacturers’ share-price trends
Company
|
24-25 July
|
31 Jul-1 Aug
|
Change
|
Bridgestone
|
Yen6,260
|
Yen6,131
|
-2.1%
|
Goodyear
|
$11.28
|
$10.11
|
-10.4%
|
Hankook
|
KRW46,500
|
KRW44,450
|
-4.4%
|
Michelin
|
€32.15
|
€31.36
|
-2.5%
|
Nokian Tyres
|
€8.17
|
€7.85
|
-3.9%
|
Pirelli
|
€5.87
|
€5.91
|
+0.7%
|
Sumitomo (SRI)
|
Yen1,756
|
Yen1,734
|
-1.3%
|
ZC Rubber
|
CNY46.19
|
CNY44.90
|
-2.8%
|
Leading rubber product manufacturers’ share-price trends
Company
|
24-25 July
|
31 Jul -1 Aug
|
Change
|
Avon Technologies
|
£21.15
|
£21.31
|
+0.8%
|
Cooper-Standard
|
$23.56
|
$24.58
|
+4.3%
|
Datwyler
|
CHF146.80
|
CHF144.40
|
-1.6%
|
Hexpol
|
SEK88.00
|
SEK85.20
|
-4.2%
|
Semperit
|
€13.02
|
€13.16
|
-3.2%
|
Trelleborg
|
SEK362.20
|
SEK357.50
|
-1.3%
|
MATERIALS
Natural rubber
Tokyo – Natural rubber futures process strengthened during the week ended 25 July across all major exchanges: supported by concerns over potential supply disruptions from recent typhoons and heavy rain in key producing regions. Prices were further supported by optimism over potential economic stimulus from the Chinese government to offset the impact of US tariffs, said Japan Exchange Group . In addition, JPX said rumours that some rubber factories were increasing purchases ahead of the year-end EUDR compliance deadline helped push up prices.
JPX: Selected rubber futures price trends on major trading exchanges
Exchange
|
Commodity
|
Delivery
|
Week to 18/7/25
|
Week to 18/7/25
|
% Change
|
Osaka
|
RSS3
|
Sep‘25
|
324.4 (JPY)
|
332.7 (JPY)
|
+2.6%
|
SHFE
|
SCR/RSS
|
Sep ’25
|
14,820 (CNY)
|
15,540 (CNY)
|
+4.9%
|
INE
|
TSR
|
Sep ‘25
|
12,730 (CNY)
|
13,255 (CNY)
|
+4.1%
|
SICOM
|
TSR20
|
Sep’25
|
169.9 (US$c)
|
179.0 (US$c)
|
+5.4%
|
SHFE
|
BR
|
Sep‘25
|
11,675 (CNY)
|
12,320 (CNY)
|
+5.5%
|
(ERJ calculation for selected futures)
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