Coverage on Tyres

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potlight

Tyre demand to remain healthy, raw material price rise to stabilise in May 2011

In March 2011, domestic tyre production (in tonnage terms) grew by 9.3 per cent (y-o-y)
driven by truck and bus segment. Natural rubber (NR) prices during April 2011 recovered
due to dollar depreciation and increase in Chinese NR demand. Sharp increase in crude oil
prices during April 2011 resulted in significant rise in prices of caprolactum and carbon black
over March 2011. CRISIL Research estimates healthy growth in tyre demand and increase in
raw material costs.


Tyres


pinion

Demand
OEM Vs Replacement
What is the current size of the domestic tyre industry?
How is the tyre industry expected to grow in the short-term?
What are the key drivers and growth expectations in the OEM, replacement and
exports markets?
End user segment-wise
What is the growth outlook across segments?
What are the demand drivers for various segments?
Radial and tubeless tyres
What is the current radial penetration level in India?
What are the reasons for lower radialisation in truck and bus segment?
What are the current levels of tubeless tyres in India?
Supply
What are the capacity utilisation rates of the Indian tyre industry?
What are the capex requirements and player-wise expansion plans?
What is the impact of import on Indian tyre industry?
Cost
Natural Rubber
What is the cost break-up for the tyre industry?
Why will domestic natural rubber prices remain firm in 2010-11?
What are the global production, consumption and stock position of natural rubber?
What are the domestic and international prices of natural rubber?
Other Crude based RM dynamics
What is the extent of price increase for other raw materials in 2010-11?
What is the relation between crude oil and carbon black prices?
What is the movement across SBR/PBR/butadiene and crude prices?
What is the link between NTCF price and caprolactum price?
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Tyres
Profitability

Margins
How has the rise in raw material costs influenced the profitability of domestic tyre
manufacturers?
How have basic raw material costs moved in the past - months, and what are the
expectations for 2010-11 and 2011-12?
Working capital management
What was the movement of RoCE in the past, and how is it going to be in the short
term?
What is the trend of asset turnover ratio?
What are the capex plans of the industry?
Short-term outlook
What is the short term demand outlook for tyres?
What is the short term price outlook for natural and other raw materials?
What is the demand supply scenario for natural rubber?
How has been the price movement of other raw materials of tyres?


Tyres


ndustry Information

Industry structure
Industry overview
What is the current market size of the tyre industry?
Which are the different categories and market segment the tyre industry operates in?
And what are their market shares?
What are the margins, gearing and RoCE for the tyre industry?
Industry structure and Players
Player-wise market share trend?
Changing import levels?
Product segment
What is the share of truck & bus and passenger car segments in the replacement,
OEM and exports markets?
What is the sales revenue break-up for various tyre categories?
Global Scenario
What is product mix comparison of the global and domestic tyre industries?
Product characteristic
Functional characteristic
What is the desired functional characteristic of a tyre? And what properties do
different raw materials provide to a tyre?
What are the different types of tyres and what are their characteristics?
Radial Tyre
What are the norms to ensure durability of radial tyre?
What is the level of radialisation in different vehicle segments?
Tubeless tyres
What is tubeless tyre and how does it work?
Are tubeless tyres safer than tube-type tyres? If yes how?
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Tyres
Manufacturing process
What is process for manufacturing tyre?

Demand drivers
Commercial vehicle tyres
What are the factors affecting demand for commercial vehicle tyres?
Passenger vehicle tyres
What are the factors affecting demand for passenger vehicle tyres?
Tyre offtake and demand trend
What is the market-wise total tyre offtake for major vehicle categories?
What is the segment-wise break-up of tyre?
Which are the export destinations for the domestic tyre industry?
What is the minimum economic size for greenfield expansion?
Retreading
What is the retreading cost and its benefit?
What are the usage and life of retreaded tyre?
Supply
What is the player-wise capacity trend?
What are the production growth rates across vehicle categories?
What is the vehicle category-wise import trend?
Player competitiveness
What is the market share of various players?
What is the product mix of tyre manufacturers in domestic industry?
Profitability and cost structure
Margins
What are the consequences of increase in raw material costs on the profit margins of
the domestic tyre industry?
Credit profile
What are the historical trends of various credit profile parameters like RoCE, asset
utilisation level, gearing, and interest coverage?

Tyres
Raw Materials value chain

Cost Structure
What is the cost break-up in the domestic tyre industry?
What are the different raw materials used and what properties these raw materials
impart to a tyre?
What is the five-year demand-supply trend for different raw materials?
What are the average prices for major raw materials used and their demand-supply
scenario?
Natural Rubber
What properties do natural rubber impart to a tyre?
What is the demand/consumption of natural rubber in the domestic market? Is
domestic supply sufficient to meet those demands?
What was the price movement in the last five years?
Styrene Butadiene Rubber
What properties do SBR impart to a tyre?
What is the demand/consumption of SBR in domestic market? Is domestic supply
sufficient to meet those demands?
What was the price movement in the last five years?
Poly Butadiene Rubber
What properties do PBR impart to a tyre?
What is the demand/consumption of PBR in domestic market? Is domestic supply
sufficient to meet those demands?
What was the price movement in the last five year?
Carbon Black
What properties do carbon black impart to a tyre?
What is the demand/consumption of carbon black in domestic market? Is domestic
supply sufficient to meet those demands?
What was the price movement in the last five years?

Tyres

NTC Fabric and Rubber Chemicals
What properties do NTCF impart to a tyre?
What is the demand/consumption of PBR in domestic market? Is domestic supply
sufficient to meet those demands?
What was price movement in the last five years?
What are different chemicals used in tyre manufacturing and how they facilitate tyre
manufacturing?
Duties and other costs
What is the duty structure of the tyre industry?
What are the different kinds of expenses the tyre industry incurs?
Company-wise comparison of cost per tonne?

Tyres


layer Profiles
Apollo tyres
Ceat Ltd
Falcon Tyres
Goodyear Tyres
JK Tyre and Industries
MRF
TVS Srichakra

ata and Statistics
Raw materials
Monthly Review
Supply
Demand
Trade flow
Duty structure




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D

Tyres


mpact Analysis


Union Budget 2011
What is the impact of Union Budget 2011-12 on tyre manufacturers?
What are the change in excise and custom duty on tyres and its raw materials in
Union Budget 2011-12?
What will be operating margins of tyre companies in 2011-12?
By how much percentage the revenues of tyre companies are expected to grow in
2011-12?

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