China has released more than one billion tires in a year

According to data from China's National Bureau of Statistics, in December 2024, the country's production of rubber tires totaled 105.56 million units, up 9.5% from the same period last year. Tire production for the entire year of 2024 grew by 9.2% to 1.18 billion units.

In 2016, China was close to producing one billion tires per year, but there was an overcapacity, which ultimately led to a decline in production. Additionally, the pandemic that began in 2020 also had an impact on China's tire industry.

China's tire exports in 2024 also increased, despite various barriers in international trade, and on January 18, China's General Administration of Customs reported that, according to preliminary data, 680.57 million tires were exported last year, representing a 10.5% increase compared to 2023.

According to incomplete statistical data, as of December 30, 2024, there were 50 major tire manufacturing projects in China that were under construction or planning, with a total investment of 100 billion yuan (13.4 billion dollars) and a production capacity of over 200 million tires, which is much higher than the previous year, so it is expected that tire production in China will continue to grow in the coming years.

In recent years, Chinese companies have also been actively building tire factories in other countries, and last year, the amount of announced projects for expanding production abroad exceeded 30 billion yuan (4 billion dollars).

Photo: Reifenpresse.de.