2021 China All-Steel Tire Output Hit a 5-Year Peak
Keywords: New increment, Y-O-Y growth, beyond expectation
Introduction: In 2021, China’s all-steel tire market performed well. H1 saw more capacity release than H2. From January to June, the output of all-steel tire rallied by 6.08% from July to December.
China’s all-steel tire industry experienced the investment boom-investment freezing-rational investment stage. The all-steel tire industry achieved integration and the industry concentration ratio ramped up notably. All-steel tire industry advanced amid constantly balanced supply and demand. From the characteristics of the whole industry, the output of all-steel tire moved up year by year, due to the product upgrade, funds security, etc. According to related data, the output of all-steel tire in China was around 132 million pieces in 2021, up around 4.89% Y-O-Y.
According to SCI, the monthly output of China’s all-steel tire in 2021 first headed up and then dwindled. After the first output decline in June, China’s all-steel tire output saw constant declines till December. Therein, the highest decline occurred in September 2021, with a decline of 22.08% and hitting a Y-O-Y low of September in the past 5 years.
Bolstered by tire price increase and market demand release, China’s all-steel tire market ushered in the period of high production and sales. In March, the all-steel tire output hit a 5-year peak, up 33.79% Y-O-Y. Besides, due to low basis in 2020, the all-steel tire output in Q1 surged by 60.75% Y-O-Y. Heading into Q2, the trading activities cooled down, and the social inventory began to pile up. The all-steel tire output began to go lower. In Q2, the Y-O-Y growth rate of all-steel tire output shrank to 7.98%. The Y-O-Y growth rate of output turned negative at 15.58% in Q3. In Q4, the monthly output of all-steel tire declined, but the Y-O-Y shrank gradually. On the one hand, all-steel tire enterprises maintained favorable production continuity and stability. On the other hand, the stock-up activities were conducted ahead of the Spring Festival holiday.
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