The Latin American (Panama) International Tire Show was first held in 2010 and 2018 was the 9th. In 2015, there were 211 tire and wheel companies from all over the world. Although the number of enterprises was not huge, as a professional tire exhibition, exhibitors achieved good results. In addition, there are very few professional exhibitions in Panama, so the exhibition has become an excellent entry point for domestic companies to enter the Latin American market. In 2015, there were more than 200 exhibitors from 80 countries, more than 4,000 buyers from 50 countries. Buyers are mainly from Central America, the Caribbean and South America, such as Mexico, Brazil, Argentina, Chile, Peru, Venezuela, Colombia, Cuba, Ecuador, Costa Rica and the United States. It can also be seen from the effects of previous exhibitions that the Panama market is very suitable for the development of Chinese enterprises. From the feedback of Chinese companies, the exhibition effect is very good. Many Chinese companies, including ZC, Enjoytyre, Crowntyre and Rhino, are old exhibitors who have participated in the exhibition.
The Latin American Panamanian region has more than 6% of the global tire market (about 1.1 billion tires). In the past decade, tire consumption in Latin America has increased by more than 30%. In 2009, South America used 19 million tires for the OEM market, and 50 million tires were used in the after-sales maintenance market. The US tire "special protection case" has caused the Chinese tire industry to be hit hard, and more than 42 million Chinese tire companies urgently need to find new markets in Latin America. Stimulated by the rapid growth in car sales, China's tire market demand has seen strong growth, which is the driving force for its expansion in China. According to the statistics of relevant departments in recent years, it is estimated that there are about 300 domestic tire production enterprises in China, and Chinese tires have been popular in South American countries in terms of quality and price. The tires in the Central American market are basically imported, because there are many countries and the market in a single country is not big. It is difficult to establish trade barriers such as anti-dumping in the United States. This is a safe haven in Latin America in the context of today's Chinese tire industry being chased by countries.