Dynamic Design, a specialized company in tire molds and manufacturing equipment, announced on the 9th that orders for high value-added products applying curved molds and sintering sipes technology using 3D printers are increasing.
This is explained as the result of the company improving customer satisfaction indices through production stabilization and capacity enhancement over the past two years. Orders from Bridgestone, the world's second-largest tire manufacturer, have significantly increased, and the company added that it is exploring supply possibilities using its Mexico subsidiary to respond to additional orders.
According to automotive market research firm LMC, global automobile demand in 2023 is expected to increase compared to last year. Among them, demand for sports utility vehicles (SUVs) and electric vehicles exceeded 9 million units last year, is expected to rise to around 12 million units this year, and approach 20 million units by 2025.
As demand for SUVs and electric vehicles increases, customer expectations for high performance and noise, vibration, and harshness (NVH) are also rising, leading to increased complexity in tire molds.
The current market situation is marked by global supply chain disruptions caused by COVID-19 and the Russia-Ukraine war, making responses critical. Global tire manufacturers are strengthening localization (local sourcing) to resolve supply instability.
In particular, the Russian market is experiencing withdrawal of market participants due to sanctions related to the war, parts shortages, supplier exits, and financial sanctions, naturally leading to an expansion of market share by KAMA, the number one tire company in Russia.
Dynamic Design's Russian subsidiary received a tire mold supply proposal from KAMA Tire last year, and after completing meetings, is currently negotiating detailed terms and is expected to secure orders soon.
A representative from Dynamic Design stated, “On the 8th, we received a fine of 70.5 million KRW and a recommendation to dismiss a former executive by the Securities and Futures Commission. This action relates to an audit conducted on the period from 2013 to the first quarter of 2018. Through re-audit, accounting treatments and issues were fully resolved, and we have continuously pursued internal control strengthening measures, securing management transparency and stability.”
They added, “We will further strive to enhance shareholder value through expanding sales and improving profitability of the existing tire mold business, and securing new growth engines through projects related to nickel ore.”
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