Updated Oct 2, 2022 06:13

Aircraft Tyre Market in Thailand

Market Overview
For the third year in a row, the Thai aircraft tyre market recorded growth in sales value, which increased by % to $ in . Over the period under review, the total consumption indicated slight growth from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market failed to regain momentum.

In value terms, aircraft tyre production surged to $ in estimated in export price. Over the period under review, the total production indicated a mild expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2017 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by %. Over the period under review, production hit record highs at $ in 2017; however, from 2018 to , production stood at a somewhat lower figure.


Consumption
In , aircraft tyre consumption in Thailand fell modestly to units, waning by -% against the year before. Over the period under review, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak volume of units. From 2009 to , the growth of the consumption failed to regain momentum.

The revenue of the aircraft tyre market in Thailand shrank slightly to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market failed to regain momentum.


Market Forecast
Depressed by shrinking demand for aircraft tyre in Thailand, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Aircraft tyre market in Thailand remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Thailand remains a net exporter of aircraft tyre; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.