Tyre prices set to increase again in Q2 as raw material costs soar

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Tyre prices set to increase again in Q2 as raw material costs soar - Business Standard

Quick Summary:

Industry experts predict that raw material prices will rise by another 5-6 per cent in the next quarter, although there is hope for stabilisation or even a softening by the third quarter.

Key components like natural rubber, synthetic rubber, carbon black, and caprolactam have seen prices climb sharply since January 2024.

The replacement market, which contributes to over two-thirds of industry volumes, is expected to remain stable, driven by healthy demand across segments.“Demand from original equipment manufacturers in certain consumer segments like passenger vehicles and two-wheelers is expected to remain stable, while the commercial vehicle segment may see a decline.