ASEAN: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in ASEAN

The ASEAN retreaded pneumatic tyre market soared to $X in 2022, growing by 39% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Retreaded Pneumatic Tyre Production in ASEAN

In value terms, retreaded pneumatic tyre production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 26%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports in ASEAN

In 2022, the amount of retreaded pneumatic tyres exported in ASEAN reduced to X units, dropping by -11.2% on the previous year. Over the period under review, exports showed a mild setback. The pace of growth appeared the most rapid in 2013 when exports increased by 82% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports shrank notably to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 57% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand prevails in exports structure, recording X units, which was approx. 85% of total exports in 2022. Singapore (X units) ranks second in terms of the total exports with a 7.9% share, followed by Malaysia (6.3%).

Thailand experienced a relatively flat trend pattern with regard to volume of exports of retreaded pneumatic tyres. Malaysia experienced a relatively flat trend pattern. Singapore (-10.5%) illustrated a downward trend over the same period. While the share of Thailand (+15 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest retreaded pneumatic tyre supplier in ASEAN, comprising 89% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled +9.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+5.1% per year) and Singapore (-4.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, reducing by -11.1% against the previous year. Overall, the export price, however, posted a strong expansion. The growth pace was the most rapid in 2020 when the export price increased by 81% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.2%), while the other leaders experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports in ASEAN

After five years of decline, purchases abroad of retreaded pneumatic tyres increased by 35% to X units in 2022. Over the period under review, imports, however, showed a abrupt descent. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports contracted slightly to $X in 2022. Overall, imports, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2016 when imports increased by 25%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The Philippines (X units) and Indonesia (X units) represented roughly 60% of total imports in 2022. Singapore (X units) held the next position in the ranking, followed by Malaysia (X units) and Lao People's Democratic Republic (X units). All these countries together held near 35% share of total imports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +8.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest retreaded pneumatic tyre importing markets in ASEAN were Indonesia ($X), Lao People's Democratic Republic ($X) and Singapore ($X), together accounting for 76% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 20%.

Among the main importing countries, the Philippines, with a CAGR of +12.7%, recorded the highest rates of growth with regard to 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 import price in ASEAN amounted to $X per unit, which is down by -28.9% against the previous year. Overall, the import price, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 an increase of 58%. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then dropped dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+22.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform