According to news on January 10, 2023 has become a glorious chapter for the tire industry. Many tire manufacturers have revealed their impressive performance in the past year, injecting strong confidence into the industry. This "long-lost prosperity" not only inspired the industry, but also laid a solid foundation for the market start in 2024.

Looking back on 2023, the tire industry is unprecedentedly popular. Shandong Chengshan Group has achieved a new goal of hitting tens of billions in revenue, and the revenue and profits of its main tire business have reached record highs. At the same time, Wanli Tire has also achieved impressive results, with both its sales and revenue achieving double-digit growth, of which overseas sales have increased by as high as 22% year-on-year. Chaoyang Langma Tire, Yanchang Rubber Company and Zaopeng Group Rubber Company have also achieved comprehensive growth in the past year, with production, sales, revenue and profits all achieving significant increases.

According to the Carbon Black Industry Network, this prosperity is mainly due to the comprehensive efforts of Chinese tires in the three major markets of supporting, export and replacement. The favorable policies of new energy vehicles have injected new momentum into the tire industry, and the economic stabilization and consumption policies have led to a steady increase in the replacement and maintenance market. Against the backdrop of the sluggish global economy, independent brand products have seized the opportunity of export growth with their cost-effective advantages, far exceeding market expectations.

Looking forward to 2024, the future development of the tire industry is still full of variables. The rapid development of new energy vehicles will profoundly change the demand trend of the supporting and replacement markets, and put forward higher requirements for the strategic planning and R&D capabilities of tire companies. Intelligence and personalization have become new trends, and tire companies need to keep up with changes in market demand and enhance their innovative thinking and customized service capabilities. In addition, with the advancement of the country's dual-carbon strategy and the improvement of environmental awareness, green and environmentally friendly tires will become the new favorite of the market, and tire manufacturers need to increase their R&D and application efforts in low-carbon and environmentally friendly technologies.

The automotive tire market has broad development prospects and huge growth potential. Although market competition is becoming increasingly fierce and demand is constantly changing, as long as tire companies can maintain their ability to innovate and respond flexibly to market changes, I believe they will be able to continue to write brilliant chapters in the global market in 2024.