Assuming nothing will be the same with COVID-19, all associated economic growth figures will be revised in the near future. The European tyre market was severely affected in the first quarter of 2020 and declined by around 20% in all segments, which is exactly the opposite of the previous forecast of achieving a total CAGR of 20% for the 2018-2022 period. It will not return to normal short-term trends and will certainly be revised.

With the global economic slowdown, the Chinese tyre market, with earlier growth of more than 6%, will no longer be mentioned in the coming years. The global pandemic has overshadowed the global economy, and the most important tyre manufacturers are only showing moderate optimism for 2020. The downward trends in demand in many international markets are therefore irreversible. When the entire industry is back on track and at the same time safe?

Tyre Industry will not return to normal short-term trends and all economic figures will certainly be revised.

In the 1950s and 1960s, the margins for industrial products were good. Many companies in industrialised countries have been looking for alternatives to invest in different parts of the world, and export rates have continuously helped them make enough money. So far, globalisation has prompted investors to tackle the underdeveloped eastern globe. The 1970s in this direction were the new way of investing a large amount of accumulated capital for the countries of the Far East. China and Singapore, then Vietnam, Thailand and Malaysia were the subject of foreign direct investment. Indonesia seems to lag behind the Philippines and Taiwan for foreign investors. Exceptionally, Japan and partially South Korea won in the early 1950s and 1960s and were more aware of the importance of technological culture. They managed to develop their own capital to invest in technological products. The tyre and rubber industry were two of the main companies.

Globalisation has prompted investors to tackle the underdeveloped eastern globe. The 1970s in this direction were the new way of investing a large amount of accumulated capital in Far East.   

Western automakers had also sparked interest in countries in the eastern world. This has helped investors to focus more on this part of the world. When investors were looking for new horizons to make more money, all supporting technologies came to these countries.

When we entered the 1990s, Glasnost began to influence Europe's socio-economic structure. The main European brands initially focused on Eastern Europe to invest in the main products. Foreign direct investment went to the Central and Eastern European countries. Major European brands in the tyre industry have acquired certain tyre factories. Some factories were opened late.

It is a difficult task to attract foreign direct investment. Many parameters need to be combined, including incentives, laws, rules, agencies and procedures to attract foreign investment. The Central and Eastern European countries spent a lot of time and effort and finally made it. Not only legislative issues, but also macroeconomic measures such as combating inflation, the goal of joining the euro area, setting competitive but sustainable tax rates and laying the foundation stone for companies that acquire applications for property permits, liberalisation of the labor market, privatisation of all areas of the economy finance, public services and telecommunications, as well as road and airport construction are different pieces of equipment than investors. Usually you look for them first.

When we reached 2000, the primary concerns of European and North American tyre manufacturers were attacks on poor quality tyres

The Czech Republic, Hungary, Poland and Slovakia are the first four countries to follow. Ukraine, Romania, Bulgaria and Croatia tend to attract foreign direct investment over time. In any case, they have all learned that low labour costs are not enough to attract foreign investment if the main attractive features are not realised.

When we reached 2000, the primary concerns of European and North American tyre manufacturers were attacks on poor quality tyres in the East and Far East regions. Instead of banning imports, the safety problems of tyres in this part of the world are highlighted and certain measures are taken to prevent the huge import channels of these branded tyres. ETRMA, the association of the largest tyre and rubber manufacturers, mainly followed the REACH restrictions of these companies. The media also supported user conscience. The tyre labeling is also the result of safety concerns. The European Commission and the White House have introduced additional anti-damping and additional countervailing duties on tyres made in the Far East. The cheaper tyres no longer had the opportunity to be rated well. Note, however, that companies in the Far East are now able to manufacture high-quality high-tech tyres and organise deliveries in the market.

At the other end of the world, many industries which invest mainly in China initiated alternatives to return to the continent in 2015.

When the time came, the former Eastern Bloc countries began to join the EU. After 2010, Chinese and Far Eastern tyre manufacturers accelerated or invested in new factories in Eastern Europe. South Korea and China have started to have tyre factories in this region. Tyres manufactured in Europe or Eastern Europe indicate the Western European and US markets and are exempt from high customs taxes. They have set up a production line that is adapted to the requirements of European and American consumers.

When we reached the other side of the world in 2015, many industries with investments mainly in China initiated alternatives to return to the continent. Export tariff barriers and rising labor costs, state requirements for environmental legislation and industrial reforms do not keep foreign investors and local companies alive. The international climate and the atmosphere of the trade struggle between East and West also play a role in this latter trend. Today, investments in Eastern Europe in the countries of Asia and Western Europe continue. However, this is not a guarantee for the next few years.

Whatever the truth is or it is assumed that yesterday's reality will be opposite or different. Therefore, nothing will be similar or as expected. Companies that covered risks today and had tools today are luckier and will be successful tomorrow.

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Kolkata-based Himadri Speciality Chemical has announced that its flagship plant in Mahistikry, Haripal, Hooghly, has received ISCC PLUS (International Sustainability and Carbon Certification).

The company has been recognised for its ecological and social responsibility, along with compliance with stringent criteria on greenhouse gas emission reduction, ecosystem protection, social accountability and complete traceability of raw materials.

Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “Achieving ISCC PLUS certification marks a defining step in Himadri’s sustainability journey. It validates our determination to integrate renewable, low- carbon, and circular solutions into every layer of our operations. As global industries shift towards sustainable value chains, Himadri is leading this transformation—delivering innovative and responsible solutions that create long-term value for society, the environment, and our stakeholders worldwide.”

With this recognition, the company joins a number of global players who are driving systemic change towards responsible sourcing and production.

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George Varughese, founder of General Rubbers and the man behind the iconic Midas brand of tyre retreading materials, passed away on 28^th August, 2025.

Varughese established General Rubbers in 1969, building Midas into India’s most recognised name in retreading materials. Under his leadership, the company has grown into a global player, supplying more than 24,000 tonnes of tread rubber, precured tread rubber and other products annually. Today, Midas serves customers across South America, Africa, Europe and Australia.

Known for his vision and emphasis on innovation, Varughese placed research and development at the heart of Midas’s success. His commitment to improving compound formulations with the latest technology ensured the brand’s reputation for durability and reliability.

With operations centred in Kottayam, Kerala, Midas continues to expand its dealer network, reflecting Varughese’s lifelong mission of accessibility and customer service.

Varughese leaves behind a lasting legacy in India’s tyre industry, remembered as a pioneer who transformed the retreading sector into a global business.

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Vaculug has named Nick Hermitage as Operations Manager – OTR South, following a significant expansion in its OTR Division.

The company's new OTR Centre of Excellence in the South East will serve as Hermitage's headquarters. He is in charge of making sure the depot runs smoothly, which includes daily administration, logistics, foam filling and tyre pressing. Hermitage brings with him a depth of experience, knowledge and skill – accumulated over 22 years in the tyre industry.

Alan Robin, National Account Manager – OTR, Vaculug Technologies Ltd, said, "This is an incredibly exciting time at Vaculug, and we are fortunate to welcome Nick to the OTR team. His extensive experience and deep knowledge of both OTR and solid tyre operations will be instrumental as we build on our significant investments in the division. I am confident Nick will make a strong contribution to our growth and I wish him every success in his new role."

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Hankook Tire Europe GmbH has appointed Richard Bezzant as the new Marketing Director Truck and Bus with effect from 1 August 2025.

The British-born marketing and sales expert started his career with Michelin in UK in 2003. He brings with him more than two decades of experience in the tyre business for buses and trucks. Following a five-year period in leadership roles in France, he most recently served as Marketing Director for UK and Ireland, where he was responsible for developing and managing the complete marketing strategy across all business divisions.

Bezzant said, “My goal is to support growth opportunities for Hankook in the European truck and bus sector and expand them further. I am confident that we will be able to build on what has been achieved so far and continue to expand the business with innovative products and services. I am glad to be working with a great team to pursue our goals.”

Jang Hyuk Moon, Vice President – Marketing Department, Hankook Tire Europe, said, “With Richard Bezzant, we have appointed an industry-leading expert for our truck and bus marketing activities. With his decades of experience, we will consistently expand our business in the commercial vehicle sector and strengthen our market position in Europe in the long term.”

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