FALLS CHURCH, Va.Based on the results of a member survey recently conducted by the Tire Retread & Repair Information Bureau (TRIB), passenger tire retreading faces a no-growth future.
TRIB said it asked three straightforward questions about passenger tire retreading in a short survey sent to its members around the world. The trade group also asked members about the main drivers for future growth of passenger tire retreading and the main drivers inhibiting growth.
According to results, TRIB members said the top three drivers for growth are cost savings compared with new tires; growing export markets; and environmental benefits. They cited these factors for the decline in passenger tire retreading: low-cost/quality new tires; public perception/education; and size proliferation.
Forty-eight percent of the surveyed members anticipated no change in the sector; 29 percent expected minimal growth; 10 percent said massive decline; 6 percent noted massive growth; 3 percent expected minimal decline; and 3 percent weren't sure.
When queried about whether they would consider entering the passenger tire retreading market in the near future, 35 percent of the TRIB members answering the survey said, No, not right for us; 26 percent said they already are involved; 16 percent said they had done it and not going back; 13 percent noted they are exploring options and might consider it; 6 percent have plans under way to do it; and 3 percent weren't sure.