U.S. tire aftermarket rebounds to pre-pandemic levels

AKRON—One year removed from the unprecedented market slump of 2020, the U.S. tire industry is humming along again at record or near-record levels in most aftermarket sectors.

According to the U.S. Tire Manufacturers Association's 2021 statistics summary, replacement market tire shipments grew by double-digits in all the sectors monitored, recovering to or exceeding pre-pandemic levels.

Original equipment tire shipments, on the other hand, while up over 2020, continue to lag the pre-pandemic 2019 figures, reflecting the supply-chain-related North American vehicle industry's production issues.

At the same time, imports of tires in the major consumer and commercial categories bounced back from 2020 to record levels, despite the global supply-chain issues that dominated news coverage throughout 2021.

Domestic production, while up in all key categories, fell short of regaining pre-pandemic levels in passenger and medium truck/bus tires, the USTMA data show. U.S. passenger tire production, which fell in 2020 to its lowest level since the 1950s, was up 10.3 percent over 2020 but still fell 16 million units shy of the 2019 output.

Light truck and medium truck/bus tire production was up 25 percent and 15.7 percent, respectively, to 26.1 million and 13.5 million units. As such, light truck tire output exceeded 2019 production by 1.6 percent while truck/bus tire production fell 8 percent short of matching the 2019 output, the USTMA data show.

The USTMA data show —

Replacement market shipments:

• Passenger, up 10.3 percent (20.9 million units) to 224.8 million units;
• Light truck, up 16.8 percent (5.67 million units) to 38.5 million units; and
• Medium & heavy truck/bus, up 19.3 percent (3.7 milllion units) to 22.8 million units.

Original equipment shipments:

• Passenger, up 0.7 percent (243,000 units) to 37.4 million units;
• Light truck, up 4.9 percent (262,000 units) to 5.6 million units; and
• Medium & heavy truck/bus, up 25 percent (1.18 million units) to 5.9 million units.

The situation was similar in Canada, where replacement market shipments were up by double digits across the board—passenger, 18.5 percent; light truck, 28.5 percent; and medium truck/bus, 31.8 percent—according to Tire and Rubber Association of Canada statistics.

At the same time, year-end trade data from the U.S. Department of Commerce show tire imports were up by double digits across the board:

• Passenger tire imports, up 10.4 percent (14.7 million units) to 155.9 million units;
• Light truck tire imports, up 19.8 percent (5.53 million units) to 33.4 million units; and
• Medium truck/bus tire imports, up 31.8 percent (4.18 million units) to 17.3 million units.

Thailand continues to be the No. 1 source of imported tires for the U.S., being ranked first in the three main categories by comfortable margins over the No. 2 exporting nations despite reduced shipments last year versus 2020, the Commerce Department data show.

Mexico was the rising star among trading nations, registering 52.8 percent and 55.9 percent gains in exports to the U.S in passenger and light truck tires, respectively.

Taiwan—whose tire makers were hit the hardest by the U.S.'s imposition of elevated import duties early in 2021—was the most notable at the other end of the spectrum, shipping 56.5 percent fewer passenger and 59.4 percent fewer light truck tires to the U.S. last year versus 2020.