Pakistan Rubber Tyre and Tube Market to Experience Huge Growth

The tyre processors and dealers in Pakistan have come up with a plan to bring up their products in the established markets in Middle East, Turkey, and Europe. Their indomitable confidence to strive with traditional counterparts has made them crop up the strategy.

The three acknowledged and canonical tyre builders have already been consigning to countries like Afghanistan, Bangladesh and Africa. Nevertheless, approvals from United Nation on some of the export markets like Yemen, Sudan, and Syria have obliged the tyre manufacturers to discover new markets.  

In an interview to The Express Tribune, Rizwan Shah, sales manager of International Panther Tyres had stated that they are pretty confident that they can keep up with top markets like Middle East and Europe as, they believe, they manufacture high-end tubes and tyres, and market them at striking prices. Also, they are already rigging out tubes for light vehicles and engines, and tyres for bikes. Moreover, in April 2019, three renowned Pakistan-based tyre makers displayed their products on “Automechanika Istanbul”, one of the most happening auto shows in the country.

Diamond Tyres, General Tyres and Panther Tyres are among the eleven Pakistani auto parts trading ventures who happened to take part in the show. Also, the Trade Development Authority of Pakistan (TDAP) had played an important role in founding national dome at the fair to aid Pakistani companies that were willing to trade internationally.

Shah had also added that India, as the fourth largest rubber manufacturer in the world, got certain advantages over Pakistan. Also, the fact that India has a stout base of steel industry, which is the main grist for tyres, has given an edge to the country over Pakistan in the Afro-American market.

According to Allied Market Research, the Pakistan rubber tyre and tube market is expected to grow at a significant CAGR from 2018–2025. Increase in rivalry among tyre manufacturers and considerable surge in total vehicle production in Pakistan are the major factors fueling the growth of the market. On the other hand, high-end development in the market of retreading tyres and unpredictable prices of raw materials are projected to curb the growth to certain extent. Nevertheless, improving economy that brings on promising conditions for the manufacturing sector has almost moderated the restraining factors and ushered in a plethora of opportunities in the industry.

Briefly, a tyre can be defined as a component snugged around the edge of a wheel to transmit the load of a vehicle from the hinge to the ground. Mainly, rubber tyre incorporates tramp, jointless cap heaps, blobs, and other constituents, which comprise drapery, synthetic rubber, and carbon black. The major purpose of the tyre is to guard the wheel lip and offer friction force between the vehicle and the road plane. The fact that it is forged out of rubber, helps it provide a flexible pad, thereby bringing down the thump of vibrations and sopping up the shock of the vehicle.

Reference:

www.tirebusiness.com

fp.brecorder.com

Related Post