In 2023, the import value of new pneumatic tyres of rubber for buses or lorries to China was higher than the forecasted values for the upcoming years. The data points to a consistent decline from 2024 ($31.955 million) to 2028 ($22.349 million), exhibiting a downward year-on-year trend with decreasing import values. Specifically, the year-on-year percentage decline from 2024 to 2025 is approximately 7.75%, from 2025 to 2026 it is around 8.23%, from 2026 to 2027 it is roughly 8.79%, and from 2027 to 2028 it is about 9.44%. The compound annual growth rate (CAGR) over the forecasted five-year period highlights an average negative growth of around 8.38% per year.
Future trends to watch for include the impact of domestic tire production capabilities in China, the evolution of transportation infrastructure stimulating demand, changes in international trade agreements, potential government policies favoring local producers, and fluctuations in global rubber prices. These factors may further influence import volumes and values.
