China Rubber Industry reports increase in total output of tyres

Research and Markets has announced the addition of China Tyre Industry Report, 2006-2007 to their offering. The rapid growth of the Chinese economy drives the auto industry to develop dramatically, which also boosts the prosperity of the tyre industry. Data from National Bureau of Statistics reveal that the year of 2005 witnessed a sustainable and steady growth in the tyre industry: the output reached 283 million units, up 18.7% over 2004; sales revenue also achieved more than RMB 80 billion, the output of radial tyre was 142 million units, that means over 50% of tyres produced for the whole year were radial tyres, the output of full-steel radial tyres was 90 million units, increasing by 31% year on year; the output of steel-belted radial tyres was 111 million units, growing 70% over the year of 2004; tyre exports volume reached about 90 million units, up 31% over 2004 and export value achieved 3.2 billion US dollars, with a yr-on-yr increase rate of 50%. In the first half of 2006, raw material price was raised though, however, tyre output continued to be increased dramatically. According to data from China Rubber Industry Association, the total output increased by 13.9% during Jan-Jul 2006 compared to the same period in 2005.