Positive Prospects of the Tire Industry in Indonesia
Indonesia Tire Market is thriving and projected to grow at a CAGR of 9.9% during 2022-2028 (forecast period). This is due to the strong growth of the automotive manufacturing industry as well as increased tire exports and the increasing number of motorbikes in Indonesia.
The Indonesian Tire Companies Association (APBI) predicts that car tire production will increase by 5.52% this year to 75,393 units. The increase in production was driven by the economic recovery in the automotive sector. According to the Minister of Industry of the Republic of Indonesia, Agus Gumiwang Kartasasmita, the automotive industry in Indonesia experienced extraordinary growth in 2022 and the Central Statistics Agency (BPS) announced that Indonesia’s economic growth in the third quarter of 2022 reached 5.72%.
Rubber is an important material for the manufacture of tires and rubber is an export commodity that has contributed to Indonesian economy. The rubber industry is a priority for the national industry, the government is encouraging the development of this sector to push rubber consumption and develop supporting sectors. The availability of national rubber is projected to continue to increase until 2024.
Connects with Indonesia Tyre Market in Tyre & Rubber Indonesia 2023
Tyre & Rubber Indonesia, Indonesia’s most important tyre manufacturing technology exhibition will be back on May 24 – 26, 2023 at Jakarta International Expo (JIEXPO) Kemayoran, Jakarta – Indonesia. This Exhibition will be conjunction with The ASEAN’s Largest Trade show for Automotive – INAPA 2023. It will be a potential marketplace for land transportation and supporting industries.
Tyre & rubber Indonesia has recognized as the most influential and important tyre trade show in ASEAN. As a B to B platform, Tyre & Rubber Indonesia strives to deliver the best experience for everyone seeking to know and gain the huge Indonesian Tyre market and to be the first to find the latest high-quality tyre.