4 ETRMA graphics that underscore the state of tire industry in Europe

The European Tyre and Rubber Manufacturers Association recently released its quarterly update, showcasing trends emerging within the continent's tire industry.

Here's a look at four graphics that give insights into state of the industry.

All-in-all, 2024 has been somewhat kind to ETRMA member companies, as tire sales—by unit—continue to rise. The ETRMA reports that second-quarter 2024 consumer tire unit sales rose 4 percent from 2023 second-quarter totals to 52.5 million units. For the first six months of the year, the sector's replacement market grew 2 percent to 108.9 million tires

Truck and bus tire sales are down just slightly year-over-year, coming in at 2.53 million units for the second quarter of 2024, a difference of about 1 percent from the second quarter of 2023. Total first-half sales were down about 5 percent year over year at 5.3 million units.

Ag tire sales meanwhile are trending positively in 2024, showing second-quarter growth of about 6 percent compared to same period of 2023. Total sales for the second quarter were around 190,000 units. For the first half, sales were up around 3 percent year over year, coming in at 402,000 units sold.

Second-quarter motorcycle and scooter tire sales are up about 7 percent year over year, coming in at 2.74 million units. First-half sales were somewhat flat at around 6.03 million units sold.

"After a negative trend in full year 2023 with -8 percent in consumer and -17 percent in truck (versus 2022), the evolution in volumes in first half of 2024 improved in consumer, mainly thanks to the all-seasons segment but remained negative in truck," ETRMA Secretary General Adam McCarthy said in a statement.

"The second quarter was better than the first quarter, even if the inflationary and the geopolitical context led to a drop in demand and a reduction of inventory levels."

According to the ETRMA, imports into Europe have "increased substantially" throughout the last decade, but imports from China are growing exponentially.

China's share of European imports grew from 59 percent in 2019 to 71.2 percent in 2023.

"Volumes from China rose by more than 10 million units in both 2022 and 2023, and by the end of 2023 were over 40 million units higher than in 2015," ETRMA said.

The imports from China so far this year are on par with the first half of 2023, coming in at around 70.6 percent.

In the first half of 2024, total P/LT imports rose 10 percent, compared to the same period in 2023, with, a significant increase in volumes from South Korea.

In 2017, China-made truck/bus tires dominated the import scene in Europe, accounting for more than 70 percent of the total number of imports, but implementation of tariffs in 2018 led to a 75 percent drop by 2019.

But as China's share of the tire imports fell, imports from other Asian countries rise. Thailand has emerged as the leading importer of TBRs into Europe, accounting for 33.8 percent of the total imports last year. Vietnam accounted for 19.3 percent in 2023, with China at 18.5 percent.

For greater perspective, from 2021 to 2022, the number of tires imported from China jumped from 5.7 million to 7 million, but dipped last year to 6.6 million tires.

In the first half of 2024, the total number of imported TBRs are down compared to the same period a year earlier. This year, Europe has seen 2.98 million tires imported versus 3.34 million in the first half of last year.

So far, this year, Thailand is leading importer accounting for 30.3 percent of the total, while China and Vietnam follow with 22.3 percent and 21.9 percent of the total, respectively.

Since declines in miles driven because of the COVID-19 pandemic, the number of vehicle miles traveled in Europe has continued to recover.

"Across Europe, miles traveled by light vehicles (cars and light commercials) increased by 2.1 percent in 2023 but remained slightly below pre-pandemic levels," ETRMA said.

"Miles traveled for vans are already above pre-COVID levels, partly due to the pandemic-related boom in home deliveries. By the end of 2023, miles traveled for cars remained 2 percent below the volumes achieved in 2019 and are only expected to exceed pre-pandemic levels in 2025."

ETRMA notes that the rise of hybrid working is likely impacting the number of miles traveled as workers are spending more time in the office, but maybe not as much as before 2020.

"The decline in demand for car-based commuting appears to have been counterbalanced by a relative increase in demand for leisure travel, with higher traffic volumes at weekends," ETMRA said.