Recently, research institution Smithers released its Asian Tire Development Report during 2020 to 2025.
The report said that there would be 1.3 units of tires produced in Asia in 2020, which would be worth of 97.4 billion dollars.
Affected by COVID-2019, tire market growth may slow down in 2020, but the report predicted that it would keep 3.6% of compound annual production growth rate and 3.8% of compound annual production value growth rate by 2025.
By 2025, it was predicted to produce 1.5 billion units of tires, total value reaching 118 billion dollars .
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