Argentina: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Argentina

The Argentinian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022, jumping by 118% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Argentina

In 2022, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 0.6% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2020 when exports increased by 80% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 54%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Argentina, accounting for a 48% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Brazil exceeded the volume sent to the second major destination, Uruguay (X units), threefold. Paraguay (X units) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-4.6% per year) and Paraguay (+0.4% per year).

In value terms, Brazil ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Argentina, comprising 61% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 13% share of total exports. It was followed by Paraguay, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil stood at -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-8.0% per year) and Paraguay (-8.8% per year).

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, growing by 32% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (-3.6%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Argentina

In 2022, supplies from abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 90% to X units, rising for the third consecutive year after two years of decline. Overall, imports enjoyed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022. In general, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to Argentina, with a 50% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.7% per year) and Taiwan (Chinese) (+7.2% per year).

In value terms, China ($X), India ($X) and Brazil ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Argentina, together accounting for 75% of total imports. Turkey, Sri Lanka, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further 7.6%.

In terms of the main suppliers, Turkey, with a CAGR of +83.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, waning by -3.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 46% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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