Industry Outlook: Nuclear Deal with Iran to Boost Tire Industry
Moves to lift the international economic sanctions on Iran has made the country the focus of eager investors from global powerhouses in the automotive sector. The country enjoys one of the largest economies in the region and experts agree that the country’s mammoth automobile industry is set to grow in leaps in bounds over the course of the next decade. Consequently, tire manufacturers and imports are expected to leapfrog anticipated growth numbers, creating a global tire trade center that would not only sustain its own needs, but see domestic and international brands compete to supply the nation’s growing need for passenger, commercial and industrial tires. The influx of new technologies, investment and capital imports are expected to strengthen the capabilities of local manufacturers to meet the challenges ahead.