Turin, Italy – Pirelli is celebrating “110 Years of Motorsport” this year. Renowned for supplying top racing teams with high-performance tires, Pirelli first entered the motorsport world back at the end of the 19th century when the company’s founder, Giovanni Battista Pirelli, realized that motorbike races could serve as a testing ground for his consumer level products.
Research and Markets has announced the addition of the “Research Report on Tire Export in China, 2017-2021” report to their offering.
In 2016, China’s tire export reached CNY 468.48 million, increasing by 5.4% YOY. Export value was USD 12.89 billion, decreasing by 6.9% YOY. Average unit export price was USD 27.52, decreasing by 11.65% YOY.
Rubber Track Market Analysis Report provides market conditions and competition,which provide advantages for entry into new and established industries. This report focused on global and regional market, major manufacturers, as well as the segment market details on different classifications and applications.
This report focuses on the Rubber Track in Global market, especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
The report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Non Tire Rubber market analysis is provided for the United States markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and Bill of Materials cost structures are also analyzed.
Overcapacity is one of the biggest challenges facing the global synthetic rubber (SR) industry. This has been driven mainly by over-investment in China during the past years. This situation of overcapacity has forced many facilities to work with reduced operating rates and delay or cancel several expansion projects. Some facilities have been deactivated or dismantled and others are in the process of switching over to produce other elastomer types such as SBS. This is most noticeable in China and the Asia Pacific region.
Even so, the SR industry is expected to continue to grow moderately compared to the previous years. By 2016, the installed capacity is expected to grow by 2 per cent, according to our information. To this situation of overcapacity, if we add dull world economic growth, the situation becomes more complicated.
Uses in key industries
Synthetic rubbers have been leading the global rubber market since the 1940’s and are used in the manufacture of many types of products that we use every day which make our lives more comfortable. The automotive and tyre sectors will keep driving the SR demand. The construction sector generates significant demand of synthetic rubber in many end-uses such as paving/roads, waterproofing membranes, and adhesives and sealants. It is also very useful to the food industry with several end uses such as labelling, packaging, and more. Synthetic rubbers are also the material of choice for appliances, footwear, personal care, medical applications and others.
The SR industry has an important and extensive business relationship with all these key industries, and therefore, has been influenced by the performance and situation of its trading partners. The global SR market experienced a sharp downfall in demand during the global economic crisis. However, coming out of the deep recession impact, it expects a moderate growth rate close to 2 per cent CAGR in the upcoming years.
In Toyo Tire & Rubber Co. financial results for fiscal year 2016, the tiremaker reported decreased tire sales overall, but an increase in unit sales in the overseas replacement market.
According to the report, Toyo’s tire business net sales decreased 6.7% year-over-year to 381,635 million yen (approximately $3.34 billion) in 2016, while operating income decreased 21.7% to 45,405 million yen ($397 million). Toyo attributed this decrease in net sales to net to a strong yen and other factors.
Unique Fabricating, Inc. (“Unique” or the “Company”) (NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced preliminary financial results for the fourth quarter and 12 months ended January 1, 2017.
Based on preliminary financial information, the Company expects:
Full Year 2016
- Revenue of approximately $170.5 million, in line with previous guidance
- Adjusted diluted earnings per share of approximately $0.78, compared to previous guidance of $0.88 to $0.91, reflecting the extended assembly plant holiday shutdowns at various automotive OEM’s to correct excessive inventory of certain models during the fourth quarter, the impact of stronger US currency against our hedged Mexican peso position, higher employee health care costs, and the impact of an unexpected equipment failure at one of the Company’s plants
- Adjusted EBITDA of approximately $19.0 million, compared to previous guidance of $19.5 million to $20.0 million
Michelin (>> Michelin (CGDE)) said an upturn in mining sector demand for its outsize earthmover tyres will help to increase earnings this year, as the French tyre maker posted a 4.5 percent gain in operating profit for 2016.
The company recorded 2.69 billion euros (2.28 billion pounds) in recurring operating income, lifting the full-year operating margin to 12.9 percent from 12.2 percent.
Chief Executive Jean-Dominique Senard said 2017 would be “another year of growth in line with the group’s 2020 objectives”.
Under increasing competitive pressure, Michelin is pursuing cost cuts to defend profitability without losing ground to low-cost rivals. The group said it met a 1.2 billion-euro savings goal for 2012-2016 and is on track to do the same again by 2020.
Global demand for truck and so-called speciality tyres – for mining and agriculture – will pick up in 2017, the company forecast. Car tyre markets will approach last year’s 3 percent expansion, with South American sales back in positive growth.
High-margin earthmover tyres are rebounding after a third straight year of decline, Michelin said. “The trend turned upward in the fourth quarter,” the company added.
Weaker pricing reduced last year’s earnings by 438 million euros, almost absorbing a 545 million-euro gain from lower raw material costs. Michelin is now raising prices to cover an upturn in the costs of steel and rubber, natural and synthetic.
Revenue fell 1.4 percent to 20.91 billion euros on weaker pricing, despite a 2.1 percent increase in sales volumes. Net income jumped 43.5 percent to 1.68 billion euros.
The 2016 results narrowly beat expectations of 20.83 billion euros in revenue and 2.67 billion in operating income, based on the median of 12 analyst estimates in an Inquiry Financial poll.
It’s happening! The USITC has this week confirmed it believes the U.S. tire industry is being “materially injured” by imports of off-the-road tires from India and Sri Lanka, upholding a finding of the Department of Commerce.
As a result, some Indian OTR tire manufacturers (although, significantly, not BKT’s Balkrishna) will pay a 3.67 percent anti-dumping tariff.
BKT will pay countervailing duties of 5.36 percent though. Alliance Tires Pvt. Ltd. will pay 4.9 percent and all other Indian tire manufacturers will pay a 5.06 percent tariff.
Sri Lankan tire makers will pay countervailing duties of 2.18 percent.
The USITC and DOC found that tires are being sold in the United States at less than fair value and were being subsidized by the governments of India and Sri Lanka. The anti-dumping duty order on imports of these products from India and countervailing duty orders on imports of these products from India and Sri Lanka is designed to counter that.
Tires that entered the United States from these countries prior to June 20, 2016, will not be subject to retroactive countervailing duties.
Manufacturers View Construction Industry as Growth Opportunity as Demand for Hydraulic Rubber Hoses Increases, reports TMR Press release from: TMR The top tier manufacturers of global hydraulic rubber hoses market in 2013 – Gates Corporation, Parker Hannifin Corporation, Polyhose, and Eaton Corporation – accounted for a significant share in the market despite its highly fragmented nature.