OTR market: nowhere to go but up, says exec
In terms of volume, the North American OTR tire market has reached its lowest point in 10 years, a Bridgestone Americas Tire Operations LLC (BATO) executive announced earlier today, Feb. 18, at the 2010 OTR Tire Conference in Tucson, Ariz.
But things will get better, said Angie Jones, general manager, marketing, BATO, Off-Road Division.
"In general, things are improving, but recovery will be gradual. There's a clear correlation between gross domestic product and overall market demand for OTR tires. For 2010, the GDP forecast (calls for) consistent, stable growth quarter by quarter."
A rebound in the housing market will be critical to the OTR tire market's recovery, she told attendees. Meanwhile, "demand for energy -- both coal and oil -- is projected to be stable... and the demand for steel is expected to rebound in 2010, all the way back to 2008 levels. Prices for gold continue to be strong, as do prices for nickel and copper."
The Tire Industry Association's 2010 OTR Tire Conference runs through Saturday, Feb. 20.