China's Tire Sales Rise: Many Small Businesses in the Tire Industry Shut Down and Obsolete Production Capacity

Environmental inspections have intensified, and tire companies in many places have been shut down, resulting in a reduction in tire production capacity:

According to statistics from www.tireworld.com.cn, from 2018 to May 2019, Chinese tyre companies eliminated about 39 million outdated production capacity;

In 2019, the safety accidents such as the explosion of the "3·21" Xiangshui Chemical Park in Yancheng, Jiangsu further stimulated the safety rectification of the chemical industry. After the Xiangshui incident, a new round of investigation of hidden safety hazards was launched across the country. From April to May 2019, cities around the world announced a batch of chemical companies to be shut down, and then gradually shut down a number of tire companies.

In 2020, environmental protection inspectors are continuing, and backward production capacity continues to be shut down.