According to the market research report "Asia Tire Industry Future Outlook to 2017 – Growth to be Driven by Green Tires" by Ken Research, Asia tire industry revenues have increased from USD 54,214.8 million in 2008 at a CAGR of 22% during 2008-2012.

The tire market in Asia has witnessed a steep incline in recent years on account of higher sales of tires in an array of vehicles. The tire industry in Asia is comprised of large tire manufacturing entities, several medium sized tire manufacturers and a gamut of small unorganized tire producing companies. Major tire enterprises all across Asia have been focusing increasingly on vertical expansions to curb the effect of unstable prices of critical raw materials, natural rubber in particular. Companies have been increasingly acquiring rubber estates outside their operating countries and have also been developing alternate sources of raw materials.

Source: rubberworld.com