NEWS CENTER

SHANDONG TIRE INDUSTRY SHOWS STEADY GROWTH, FULKING INDUSTRIAL COMMITS TO GLOBAL EXPANSION

Release Time:

Nov 17,2025

In 2024, Shandong’s tire industry continued its steady growth, with both industry scale and international influence on the rise. The province’s total tire production reached 507.702 million units, up 7.89% year-on-year, accounting for 64.5% of China’s total tire output. Among these, radial tire production totaled 439.09 million units, up 6.9%, representing 58.46% of the national radial tire output, highlighting Shandong’s core competitiveness in high-end tire manufacturing.

Total revenue for the provincial tire industry reached RMB 173.673 billion, up 2.86% year-on-year. Despite revenue growth, profit was affected by fluctuations in raw material prices and rising costs, with total industry profit at RMB 15.58 billion, down 17.33% year-on-year, and an average industry profit margin of 8.97%. Export volume reached 5.753 million tons, up 1.4%, accounting for 64% of China’s total tire exports; export value reached RMB 94.86 billion, up 2.7%, representing 59.92% of the national export value, reflecting Shandong tires’ strong competitiveness in the international market.

Shandong tire enterprises continue to maintain strong domestic and international positions. In 2024, the “Tire Business” global top 75 tire companies list included 34 enterprises from mainland China, with 23 based in Shandong, accounting for 67.6% of domestic entries. Additionally, according to the China Rubber Industry Association’s 2024 China Tire Enterprise Rankings, Shandong companies hold seven of the top ten positions, underscoring the province’s leading role in China’s tire industry.

Policy support has provided a strong foundation for industry growth. On June 27, 2024, the Shandong Development and Reform Commission removed the tire industry from the “Two Highs” list, eliminating the need for capacity relocation. Under this favorable policy, new projects continued to be developed. In the full-steel tire sector, Shandong enterprises expanded counter-cyclically, with approximately 17.4 million units/year of new or planned production capacity, while some foreign brands exited the domestic TBR market and smaller, outdated factories were phased out.

Regarding global expansion, by the end of 2024, Shandong tire companies had established overseas production capacity of 201.9 million units, promoting the “going global” strategy and expanding international markets. Operations of overseas projects show higher economic efficiency and product profitability than domestic plants, demonstrating strong momentum and competitiveness in the global tire industry.

As a key industry player, Fulking Industrial will follow Shandong’s tire industry development closely, implementing technological innovation, capacity upgrades, 

and a global expansion strategy. We are committed to improving product quality, optimizing customer service, and achieving greater market share both domestically and internationally. Moving forward, Fulking Industrial will continue expanding overseas, advancing full-steel and high-performance tire production, while emphasizing sustainability and environmental innovation to become a leading global tire brand.

With strong technological capabilities, clear development goals, and firm strategic determination, Fulking Industrial will work alongside Shandong’s tire industry to create a new chapter of high-quality growth, continuously advancing in the global tire market and ensuring long-term, steady development.

Looking ahead, Fulking Industrial will focus on innovation-driven growth, continuously enhancing R&D capabilities and product value-added, striving for greater breakthroughs in high-performance and full-steel tires. We will continue optimizing industrial layout, accelerating global market expansion, and building an internationally competitive brand.

Adhering to the principles of “quality first, customer-oriented, continuous innovation,” Fulking Industrial remains confident, grounded in China yet eyeing the world, committed to steady growth and sustainable development, aiming to lead the global tire industry. We will leverage strong strategic execution and forward-looking market planning to drive both the company and the industry toward high-quality development.

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