Chinese Retreading Market Presents World of Opportunity
While much has been made about the enormous potential of the emerging Chinese tyre market, the opportunities go further than this alone. For every tyre that is produced and used in the People’s Republic there is a potential money-making opportunity for the retreading and collection aspects of the tyre business.
It is not overstating the situation to say there is huge potential for retreading in China. Currently around 265 million tyres are produced in China each year, across all segments. At the same time the domestic market’s 3 million vehicles currently demand 130 million tyres annually, according to a Hong Kong Trade Development Council report.