08 December 2022
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Thailand’s tyre industry is largely complemented by country’s prominent automobile industry.
Most of the raw materials required by Thailand’s rubber tyre manufacturers are procured from domestic suppliers.
Tyre manufacturers usually plan to procure rubber blocks at least three months in advance and have long-term tie-ups with block manufacturers to ensure timely supply.
Rubber tyres are domestically dispatched to the replacement (vehicle dealers, car maintenance centres, or repair shops) and OEM (automobile manufacturing/assembly plants) markets.
The tyres may also be supplied through authorised distributors.
Value Chain of Thailand's Tyre Industry
As of 2021, Thailand was the largest import partner of the US, which is the world’s largest tyre importer. Nevertheless, the US is planning to impose an anti-dumping duty on Thai tyres.
Tyre production and domestic sales picked up in 2021, after falling steadily over 2018–20. This aligned with domestic automobile and motorcycle production trends during these periods. Nevertheless, the tyre export sector has experienced a general uptrend over 2015–21, slightly dipping in 2020 due to the impact of the COVID-19 pandemic.
The industry is relatively concentrated, with the top five players accounting for over 60% of market share in 2020, and dominated by global brands such as Michelin, Dunlop, and Bridgestone.
Tyre Industry Complemented by Country’s Prominent Automobile Industry
Thailand Largest Tyre Exporter Amongst ASEAN-6, Supported by Strategic Location and Manufacturing Hub Status; FTAs Provide Added Benefit
Raw Materials Mostly Procured Domestically; Finished Products Dispatched Via Authorised Dealers, Directly to Automobile Manufacturers, Export Markets
Tyre Production and Domestic Sales Stage Post-COVID-19 Recovery; Exports on Uptrend Fuelled by Rising US Demand
Consolidated Industry Dominated by Foreign Operators: Top Five Players Control Over Half the Market
Michelin Siam: Global Tyre Brand Operating in Thailand with Full Foreign Ownership
Sumitomo Rubber (Thailand): Japanese Wholly Owned Subsidiary
Thai Bridgestone: Tyre Manufacturer with Mitsubishi Ownership
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