According to the European Tyre and Rubber Manufacturers Association (ETRMA), replacement market sales in Europe for most types of tyres rose sharply in the first quarter compared to a year ago, but uncertainty stemmed from the Russian attack on Ukraine. , growth slowed in March.
European tire sales surge
Sales of replacement passenger vehicle tires rose 9% to 61.674 million units in the quarter, led by a 22% increase in tire shipments in the quarter, ETRMA data showed.
Meanwhile, the economic recovery pushed truck/bus tire sales up 10.2% to 3.674 million units and two-wheel tire sales up 9.3% to 3.55 million units.
However, shipments of agricultural tires to the European market fell by 7% to 3.44 million.
expected to decline
"The tight supply of raw materials and energy due to the current situation may affect sales in the coming months," said ETRMA Secretary-General Fazileh Sinaralp.
She added: "We all hope that, in the coming weeks, we will help resolve the conflict, stop the war and rebuild the peace."
The ETRMA data covers markets in 35 European countries, from Ireland in the west to Poland, Slovakia, Hungary, Romania and the Baltic states in the east, plus Malta and Turkey.
ETRMA member companies operate 94 manufacturing plants (including retreading plants) across Europe, employing more than 200,000 workers, representing a capacity of 300 million passengers and 18 million truck/bus tires.
The Russian-Ukrainian war, this American tire factory is the winner
Titan International of the United States, said in a statement: As one of the largest producers of agricultural and industrial tires in Russia, Voltyre-Prom JSC continues its work, and developing its business by expanding its product range is one of the most important strategic directions of the company this year. We believe the current form presents us with new opportunities to increase production and sales and continue to hire staff.
Raw materials will affect European tire companies
According to relevant media reports: Russia will export 258,000 tons of butadiene rubber in 2021, and the top five importing countries are India, Turkey, Mexico, Poland and Romania.
In addition, EU countries Belgium, Portugal and Lithuania increased their imports of cis-butadiene rubber from Russia last year.
When it comes to isoprene rubber, Russia, as the world's largest producer, will export 275,000 tons of isoprene rubber in 2021.
If the conflict between Russia and Ukraine affects Europe to reduce the amount of synthetic rubber imported from Russia, it will have a huge impact on tire companies.
Speaking of isoprene rubber, Russia is the world's largest producer, exporting 275,000 tons of isoprene rubber last year. Likewise, Europe would lose the most if it reduces imports of Russian IR. Argus reported that the EU-27 (excluding the UK) imported 145,000 tonnes of IR from outside the EU-27, of which almost 92% was supplied by Russia.
Poland, Germany and Romania are the European countries that accept the most Russian IRs. In addition, the United States imported 17,000 tons of IR last year, up from 13,000 tons last year. Russia accounts for about 68% of total imports, and together with Japan, these two countries account for about 95% of U.S. IR imports.
Recently, Europe has also introduced policies to sanction many Russian businesses. Who will be the biggest winner in this tug-of-war?
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