The top suppliers in total tires imported to the United States in 2022 were Thailand, Mexico, Japan, Canada, Vietnam and China.
Globally, the United States is the largest importer of new rubber tires, with $19.215 billion in 2022 and a year-over-year growth rate of 22.9%, according to Commerce Department data.
Thailand led these shipments, with $3.549 billion, an increase of 17.4 percent.
Then Mexico ($1.813 billion, +19.4%), Japan ($1.703 billion, +46.6%), Canada ($1.574 billion, +4.7%) and Vietnam ($1.266 billion, +39.1 percent) stood out.
New tires are sold at very competitive conditions worldwide.
Globally, The Goodyear Tire & Rubber Company reports that it has two major competitors: Bridgestone (based in Japan) and Michelin (based in France).
Other major competitors include Continental, Hankook, Kumho, Nexen, Pirelli, Sumitomo, Toyo, Yokohama and several regional tire manufacturers.
These companies compete with each other in terms of product design, performance, price and conditions, reputation, warranty conditions, customer service and consumer convenience.
Tires imported
Continuing with the particular case of Goodyear, the main raw materials it uses are synthetic and natural rubber.
Synthetic rubber accounted for approximately 50% of all rubber consumed by Goodyear in 2022. Its plants located in Beaumont and Houston, Texas, supply most of its global synthetic rubber needs.
But the company purchases all of its natural rubber needs from the global market.
Other important raw materials and components it uses include carbon black, steel cord, fabrics and petrochemicals.
Increased demand for consumer products and supply chain disruptions as a result of Covid-19 and other global events, including the conflict in Ukraine, led to inflationary cost pressures, including higher costs for certain raw materials, higher transportation costs and higher energy costs.
Other companies that entered the ranking of the top 10 external tire suppliers to the U.S. market in 2022 were China ($1.257 billion, +7.5%), South Korea ($1.147 billion, +19%), Indonesia ($1.068 billion, +33.6%), India ($724 million, +57%) and Brazil ($444 million, +12 percent).
In the context, the global economy continues to face uncertain macroeconomic conditions, including the ongoing effects of inflation, which have led to higher interest rates and lower consumer confidence. Uncertainties around the availability of energy in Europe have more profoundly affected consumer spending in that region.
