The automotive wheel balance weight industry is developing rapidly, benefiting from the growth of global automobile production and sales, the advancement of environmental regulations and technological innovation. The overall market demand is stable, especially in emerging markets and aftermarkets. The increasingly stringent restrictions on the use of harmful materials such as lead around the world have driven the demand for environmentally friendly wheel balance weights. Manufacturers of automotive wheel balance weights are constantly innovating materials and processes, and the development of new materials such as zinc, steel and composite materials has gradually replaced traditional lead materials, improving product performance and environmental friendliness. At the same time, the market competition is fierce, and brand building and global layout have become the key to improving the competitiveness of enterprises. Overall, the wheel balance weight industry has broad prospects. With the development of new energy vehicles and intelligent vehicles, there will be more opportunities and challenges in the future.
In 2023, the global automotive wheel balance weight market sales reached US$680 million, and it is expected to reach US$996 million in 2030, with a compound annual growth rate (CAGR) of 5.68% (2024-2030).
