Sailun, Double Star, Triangle, Wanli, Zhengdao, Fomax... Collectively "Head South" to Cambodia

According to data from the General Department of Customs of Cambodia, from January to September 2026, the country's tire export value reached $1.723 billion (approximately 11.58 billion RMB), a significant increase of 77.46% compared to $971 million in the same period of 2025, ranking among the highest growth rates in Cambodia's export history. Behind this major industrial transformation of this traditional textile and garment exporting country stands a collective "southward-moving" Shandong tire army—approximately 90% of tire factories in Cambodia originate from Shandong.

Exports of $1.7 billion in 9 months, surpassing Vietnam

According to data from the Ministry of Commerce of Cambodia, tire exports for vehicles from January to August 2026 reached approximately $1.497 billion, a year-on-year increase of 72.14%. The United States is the largest export destination, followed by markets such as Brazil, Canada, France, and the UK. In 2025, with sales of 13.4 million units, Cambodia ranked among the top three import sources for US passenger car replacement tires, surpassing Vietnam.

Currently, 8-9 tire factories in Cambodia are in operation, distributed across 5 economic zones in Prey Veng Province, Preah Sihanouk Province, and Kratie Province. Secretary of State Penn Sovicheat stated: "The surge in tire sales and value highlights the global acceptance of Cambodian tires."

Shandong Army: From Giants to Little Giants All In

In 2012, Sailun pioneered Vietnam, starting its overseas journey; in 2021, the Sailun Cambodia factory began production, becoming the first local tire factory; since 2024, capital increase and expansion have taken place, with a second phase project planned again by the end of 2025. Double Star Tires invested 1.438 billion yuan to build a factory with an annual capacity of 7 million semi-steel tires and 1.5 million all-steel tires, with phase one already in production since September 2024; Triangle Tires established its first overseas base in Cambodia, planning a capacity of 7 million tires, expected to become its main overseas supply force in the second half of 2027.

Shandong "Little Giants" are also taking frequent actions: Fomax Cambodia factory rolled off its first tire in September 2025, with a designed annual capacity of 9.2 million tires; Zhengdao Tires factory was built and started production in just 10 months, immediately followed by a second-phase plan for 1.5 million sets of all-steel tires and 6 million sets of semi-steel tires; Shandong New Continent Rubber project was approved, planning 4.5 million high-performance semi-steel tires. From 2024 to 2026, the three Shandong companies combined added over 20 million tires of capacity in Cambodia.

Upstream support follows synchronously: Sinomach Softcontrol invested in a biomass power plant in Kratie Province, with Fomax holding a 20% stake; Yongyu Rubber plans a 600,000 rubber capsule vulcanization capacity; Wanli Tires invested in the phase one 6 million unit project of its Cambodia base, with an investment of about 2 billion yuan, which went into production in January 2026. After phase two is completed, total capacity will double to 12 million units; GCT Rubber Cambodia Company received the "Smart Manufacturing Leading Factory" certification, the first issued by the Cambodian industry department.

"Safe Haven" Under Pressure from Anti-Dumping and Countervailing Duties, Target 100 Million Units

Cambodia became a popular location for sites after 2023, with the immediate trigger being the US anti-dumping and countervailing duty (AD/CVD) investigation on Southeast Asia—challenging passenger tires from Thailand and Vietnam in 2021, and imposing additional tariffs on truck and bus tires from Thailand in 2024. Plus, Prime Minister Hun Manet announced exemption of export taxes for export-oriented tires, further amplifying policy dividends.

Deputy Prime Minister So Chan Thol stated that from 2023 to 2025, about 50% of approved investments in Cambodia came from China. Cambodia has cumulatively exported about 30 million tires, with a future goal to reach an export scale of 100 million units. In the first nine months of 2026, Cambodia's natural rubber latex export revenue reached $455 million, a 25% year-on-year increase, providing local raw material support for the tire industry.

Hidden Concerns Behind the Celebration

Industry insiders remind that freight volatility, changes in trade rules, and customer concentration risks will determine whether the current high profits of Cambodian tires can be sustained. The US has already acted against Thailand and Vietnam successively, and acting against Cambodia is likely just a matter of time. For Shandong tire companies clustering in Cambodia, while enjoying the dividends, a global diversified layout remains a mandatory question.