The UK rubber tyres and tubes production value displayed significant fluctuations from 2013 to 2023, peaking in 2015 at €2.12 billion. A substantial decline occurred in 2016, followed by another sharp drop in 2018. The sector experienced a slow recovery from 2019 to 2021 but witnessed another downturn reaching €1.02 billion in 2023. From 2023, looking ahead, the production value is forecasted to decline, with a compound annual growth rate (CAGR) of -6.63% from 2024 to 2028, ultimately projected to decrease by 29.02% by 2028.
Year-on-Year (YoY) variations indicate:
- 2013: 1.88%
- 2014: 2.05%
- 2015: 0.99%
- 2016: -21.98%
- 2017: 8.69%
- 2018: -33.53%
- 2019: 7.98%
- 2020: -21.53%
- 2021: 7.98%
- 2022: -0.92%
- 2023: -6.12%
Future trends to watch for:
- Shifts in the automotive industry, particularly towards electric vehicles which have differing tyre requirements.
- Technological advancements in tyre manufacturing, focusing on sustainability and efficiency.
- Potential impacts of economic fluctuations and trade policies on the raw materials supply chain.
