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Multiple factors affect Guizhou Tyre overseas market

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Guizhou Tyre

Recently, Guizhou Tyre (also known as Advance Tyre) disclosed utilising production capacity. In 2022, China has implemented relatively strict control measures against the epidemic, and the logistics are not smooth, which indirectly leads to weak demand for truck and bus tyres. Affected by the above factors, Guizhou Tyre’s domestic plant has a capacity utilisation rate of around 80 per cent for all-steel radial tyres. Over the same period, capacity utilisation for OTR tyres was about 95 per cent.

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  1. Further Guizhou Vietnam plant details
  2. Guizhou (Advance) Tyre plans to expand EU sales
  3. PCR capacity at SRI’s Hunan, China plant to treble
  4. Sailun Group extends capacity expansion project
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Recent Western Europe car tyre production decline ‘similar to financial crisis’ years

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Passenger car and light truck (PCLT) tyre production trends in Western Europe have been scaling down over the long-term. The move to larger production facilities in the comparatively low-cost labour markets in Eastern Europe, or greater reliance on imports from Asia, has seen a steady stream of plant closures and conversions to speciality, short-run production capacity – on in the case of Cooper Tire’s UK plant, for example, one followed by the other – in the region. A new assessment of the most recent three-year period by tyre industry analyst Astutus Research suggests that the overall picture has been of a decline similar to the period following the 2008 financial crisis, which was itself a catalyst for this trend. Yet digging a little deeper into the figures shows several dynamics at play in European PCLT tyre production, including supply chain disruption and spiralling energy costs. For comprehensive analysis of global tyre market trends, a series of reports by Astutus Research are available to buy now in the Tyrepress Reports Shop – click here for more details.

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Maxxis, Bridgestone investing in India

According to local media sources, both Bridgestone and Maxxis plan to ramp up their activities in India. Maxxis Group intends to invest a further US$100 million over the next five years to capture a 15 per cent stake in the two-wheeler tyre market, while Bridgestone Corporation is looking to increase its production capacity for car tyres by ten per cent next year to meet rising demand from both OEM and aftermarket customers.

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  1. Bridgestone investing $304 million to expand plants in India
  2. New warehouse, increased capacity at Bridgestone’s Hungary tyre plant
  3. Capacity expansion: TVS Srichakra signs MoU
  4. BKT looking to further increase capacity
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Bridgestone further expanding Bahia tyre plant

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Through its local subsidiary Bridgestone Do Brasil Industria e Comercio Ltda, Bridgestone Corporation is once again increasing production capacity at the Bahia passenger car and light truck tyre plant in Brazil. Earlier today, the company said it would invest approximately BRL 270 million (£45.4 million) in this project; when combined with the capacity investment announced in July 2021, total investment in boosting Bahia plant capacity amounts to approximately BRL 970 million (£163.2 million).

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USA: Bridgestone investing $550 million in TBR production

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Bridgestone Americas will spend US$550 million over the coming two years on the expansion and modernisation of its Warren County truck and bus radial tyre plant in the US state of Tennessee. The project will add 380 jobs to the Warren County workforce and expand the plant’s existing footprint by 850,000 square feet (around 79,000 square metres).

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SRI investing in “advanced” tyre capacities, cutting “unprofitable” SKUs

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Sumitomo Rubber Industries (SRI) intends to raise production capacities at a number of its facilities around the world, but at the same time will remove some products from its portfolio in order to address rising costs. It will also aim for more “flexible” production allocation in response to changes in the business environment.

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  1. SRI increasing capacity at US tyre factory
  2. New mixer, greater utilisation to facilitate expansion at Sumitomo’s US tyre plant
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  4. SRI: Testing breakthrough will lead to higher rubber yields
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BKT looking to further increase capacity

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With capacity expansion projects now completed and being ramped up, BKT anticipates achieving a total capacity of 360,000 tonnes per annum by the end of March 2023. But further growth is necessary if the company is to keep pace with demand for its off-highway tyres. During a conference call with investors on 5 August, the tyre maker confirmed that plans are already “on the drawing board” for additional expansion beyond the current projects.

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  4. Off-highway capacity to double: Ceat curtails TBR expansion
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Bridgestone expanding motorcycle tyre capacity

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Bridgestone Corporation is investing to increase production capacity for motorcycle tyres at its Nasu plant in Japan, its sole motorcycle tyre production facility worldwide. The tyre maker will invest approximately 1.7 billion yen (£10.4 million) to gradually expand output potential from 2026, with capacity rising by approximately 90,000 units.

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50% more tyres: Sumitomo Rubber USA expanding plant

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Construction work to expand the Sumitomo Rubber USA plant in Tonawanda, New York is progressing following the official groundbreaking at the site on 29 March, and in the coming two to three years the tyre maker will invest US$129 million in a project that will boost production capacity by 50 per cent. After erecting a 5,100 square metre plant building this summer, Sumitomo will install new mixing machines, tyre presses and tyre building machines. Plant manager Tim Sprunger says the expanded facility will feature a high level of automation.

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Iochpe-Maxion increasing wheel capacities in Brazil

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Wheel and automotive component manufacturer Iochpe-Maxion is investing R$100 million (£16.7 million) to expand its operations in Cruzeiro, Brazil. Work to increase truck wheel capacity in Cruzeiro will be finished in the first quarter of 2023 and boost annual output capability by 400,000 wheels, and when expansion of the plant’s agricultural wheel production capacity is completed in the third quarter of the same year, the Cruzeiro site will be equipped to produce a further 110,000 of these products annually.

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JK Tyre boosting car tyre capacity by 3 million units

JK Tyre & Industries intends to significantly increase its capacity to produce passenger car tyres. During an earnings call this month, managing director Anshuman Singhania confirmed that the tyre maker’s Board of Directors has approved an Rs 5.3 billion (£54.0 million) expansion of PCR capacity at its Banmore plant. Along with a recently commissioned debottlenecking programme, this will increase PCR capacity there by 35 per cent from its current level of around 9 million tyres per annum.

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Nokian Tyres cuts 2021 dividend as European capacity ramps up

The war in Ukraine has brought “high uncertainty” to Nokian Tyres’ operational environment and manufacturing capacity, and as a result it is accelerating plans to invest in new production capacity in Europe. To help fund this capacity, the Board of Directors at Nokian tyres has decided to decrease the dividend payable for the 2021 financial year.

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Nokian Tyres staying in Russia

Nokian Tyres has explained the decision to retain its manufacturing operation in Russia, a facility that reportedly produced 82 per cent of Nokian’s passenger and light commercial vehicle tyres last year. The Finnish tyre maker states that by continuing to operate the passenger car tyre factory in Vsevolozhsk, Russia it wants to “make sure that the factory is operated and controlled by Nokian Tyres also in the future.”

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  1. Nokian Tyres adjusting output in Russia, freezes hiring at new USA plant
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Capacity increase for 4 Bridgestone car tyre plants

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Bridgestone Corporation is expanding production capacity at four of its passenger car tyre plants in Japan. With an investment of approximately 8.2 billion yen (£52.8 million), capacity at the Tochigi, Hikone, Hofu and Tosu facilities will increase by approximately 6,200 tyres per day by the end of 2025, an amount that equals more than ten per cent of current capacity.

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  1. Growing EV/hybrid tyre demand: Bridgestone investing in Brazil
  2. Update: Bridgestone to boost radial aircraft tyre capacity
  3. New warehouse, increased capacity at Bridgestone’s Hungary tyre plant
  4. Bridgestone closing 3 Diversified Products plants
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Off-highway capacity to double: Ceat curtails TBR expansion

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With exports of its off-highway tyres (OHT) particularly healthy at present, India’s Ceat Limited has decided to increase its strategic focus in this area and will more than double agricultural radial capacity by mid-2023. Existing plans to expand truck and bus radial (TBR) production are thus taking a back seat.

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