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Global tyre companies are moving their production facilities closer to the growing markets, especially Asia. For example, Pirelli, Continental, Michelin and Bridgestone already have plants in China, making it the largest tyre producing country in the world with production value reaching US$40.6 billion in 2011. However, now global companies are looking for new locations.
Flourishing India’s and Indonesia’s automotive industries and skyrocketing household car ownership coupled with considerably lower average wages compared to China make the two countries very attractive for tyre producers. As a result, tyre production in India and Indonesia is expected to grow by over 10% per annum until 2017. New plants are expected to become operational during the forecast period: