Asia: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Asia

The Asian retreaded pneumatic tyre market expanded significantly to $X in 2022, growing by 5.7% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Retreaded Pneumatic Tyre Production in Asia

In value terms, retreaded pneumatic tyre production amounted to $X in 2022 estimated in export price. Overall, production showed a mild curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Retreaded Pneumatic Tyre Exports

Exports in Asia

Retreaded pneumatic tyre exports dropped slightly to X units in 2022, reducing by -4.3% on 2021. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 38% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports dropped slightly to $X in 2022. Over the period under review, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand was the major exporter of retreaded pneumatic tyres in Asia, with the volume of exports finishing at X units, which was near 48% of total exports in 2022. China (X units) ranks second in terms of the total exports with an 11% share, followed by India (8.5%), Hong Kong SAR (7.8%) and South Korea (5.1%). The following exporters - Singapore (X units) and Malaysia (X units) - each reached an 8% share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of retreaded pneumatic tyres. At the same time, India (+3.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +3.4% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-5.2%), Singapore (-10.5%), South Korea (-12.9%) and China (-23.5%) illustrated a downward trend over the same period. While the share of Thailand (+32 p.p.), India (+6.3 p.p.), Hong Kong SAR (+3.1 p.p.) and Malaysia (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-2.1 p.p.) and China (-45.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest retreaded pneumatic tyre supplying countries in Asia were Thailand ($X), Hong Kong SAR ($X) and China ($X), together accounting for 77% of total exports.

Thailand, with a CAGR of +9.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 when the export price increased by 41%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.3%), while the other leaders experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports in Asia

After four years of growth, overseas purchases of retreaded pneumatic tyres decreased by -0.5% to X units in 2022. Overall, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 246%. The volume of import peaked at X units in 2021, and then dropped slightly in the following year.

In value terms, retreaded pneumatic tyre imports dropped modestly to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 107% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the one major importers of retreaded pneumatic tyres, namely Afghanistan, represented more than two-thirds of total import.

Afghanistan was also the fastest-growing in terms of the retreaded pneumatic tyres imports, with a CAGR of +20.1% from 2012 to 2022. Afghanistan (+50 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) constitutes the largest market for imported retreaded pneumatic tyres in Asia.

From 2012 to 2022, the average annual growth rate of value in Afghanistan stood at +15.9%.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, shrinking by -4.4% against the previous year. In general, the import price saw a slight downturn. The most prominent rate of growth was recorded in 2017 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Afghanistan.

From 2012 to 2022, the rate of growth in terms of prices for Afghanistan amounted to -3.5% per year.

Source: IndexBox Platform

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