Australia: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Australia

The Australian retreaded pneumatic tyre market shrank notably to $X in 2022, dropping by -28.1% against the previous year. In general, consumption saw a deep downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Retreaded Pneumatic Tyre Production in Australia

In value terms, retreaded pneumatic tyre production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible reduction. The growth pace was the most rapid in 2016 when the production volume increased by 281%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Australia

For the fifth consecutive year, Australia recorded growth in overseas shipments of retreaded pneumatic tyres, which increased by 55% to X units in 2022. In general, exports showed a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, retreaded pneumatic tyre exports soared to $X in 2022. Overall, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), New Zealand (X units) and Singapore (X units) were the main destinations of retreaded pneumatic tyre exports from Australia, together accounting for 75% of total exports. Thailand, El Salvador, Panama, Uruguay, Paraguay, Honduras and Solomon Islands lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Paraguay (with a CAGR of +578.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for retreaded pneumatic tyres exports from Australia, comprising 56% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 23% share of total exports. It was followed by Panama, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+19.6% per year) and Panama (+2.1% per year).

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, jumping by 211% against the previous year. In general, the export price recorded a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Singapore ($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 the United States (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Australia

In 2022, supplies from abroad of retreaded pneumatic tyres was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports recorded a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 258% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports soared to $X in 2022. In general, imports posted a perceptible expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 75% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X units), Thailand (X units) and the UK (X units) were the main suppliers of retreaded pneumatic tyre imports to Australia, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +161.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of retreaded pneumatic tyres to Australia, comprising 59% of total imports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total imports. It was followed by the UK, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+107.7% per year) and the UK (+28.6% per year).

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, growing by 20% against the previous year. In general, the import price, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by 21%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Malaysia ($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 (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :