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Tan Expands on Global Tire Market

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Dr Enki Tan Giti Tire GroupThere are three main concerns in the global tire industry, according to Dr. Enki Tan, executive chairman of Giti Tire Group. Tan shared his views with the trade media following the announcement of Giti’s first North American tire plant.

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Tan’s first concern is the volatility in the raw material prices. He noted that the changes in natural rubber prices create disruption in the value chain.

Another concern for Tan is overcapacity in certain geographic locations. He said this problem will eventually work itself out, however.

“People will see [over capacity] and investments will slow down,” Tan noted.

The final issue Tan sees within the industry is protectionism.

“The tire industry creates a lot of jobs and it is a conduit to many other industries around. If the tire industry closes down in one area, the impact is much larger than the number of jobs it loses. That creates protectionism. You need a balance of capacity creation and free trade,” he said.

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