Global and China Tire Mold Industry Report, 2020-2026
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A total of 1,754 million semi-steel and all-steel radial tires were shipped worldwide in 2019, down 2.8% from a year ago. After two years of slowdown, the global tire industry will remain bearish amid the devastating COVID-19 pandemic in 2020 and will make slow headway, which undoubtedly have implications for tire mold industry. The world's demand for tire mold reached 120,800 sets and edged up 0.33% year on year in 2019, and the figure is projected to register 131,100 sets in 2026 alongside the tire mold market expanding at a CAGR of 1.2% between 2019 and 2026.
Radial tires are used for both passenger cars and commercial vehicles. Semi-steel radial tires mainly find application in passenger cars and light-duty commercial vehicle, while all-steel ones get used in large commercial vehicle like bus and truck and are produced with different molds. In 2019, all-steel tire mold commanded 12.7% of the global market size, and semi-steel tire mold 87.3%.
Tire mold market is ruled by Asian competitors including Himile Mechanical Science & Technology (32.75%), S.Korean Saehwa (7.28%) and Shandong Wantong Mould (6.25%). Among them, Himile Mechanical Science & Technology is committed to producing and selling radial tire segmented mold, with products covering passenger car tire (PCR) mold, truck & bus tire (TBR) mold, off-the-road tire (OTR) mold, giant OTR mold, and with professional tire makers as key clients. Himile has established branches and factories in the United States, Thailand, Europe and India; 80% of Saehwa's products are exported, with production facilities in China encompassing Tianjin Shinhan, Tianjin Saehan, and Nanjing Saehan; Shandong Wantong produces such products as all-steel and semi-steel radial tire segmented molds applicable to the production of tires for trucks, buses and sedans, possessing annual capacity of over 3,000 sets.
‘Global and China Tire Mold Industry Report, 2020-2026’ highlights the following: