Bahrain: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Bahrain

In 2022, the Bahraini retreaded pneumatic tyre market increased by 0.1% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2019 when the market value increased by 6.5%. Retreaded pneumatic tyre consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in Bahrain

In value terms, retreaded pneumatic tyre production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced setback. The growth pace was the most rapid in 2019 with an increase of 7.5% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Bahrain

In 2022, exports of retreaded pneumatic tyres from Bahrain dropped to X units, which is down by -5.8% compared with 2021 figures. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 666% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports contracted dramatically to $X in 2022. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 423% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X units) was the main destination for retreaded pneumatic tyre exports from Bahrain, with a 44% share of total exports. Moreover, retreaded pneumatic tyre exports to Italy exceeded the volume sent to the second major destination, Saudi Arabia (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to -13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+8.7% per year) and Austria (-32.3% per year).

In value terms, Italy ($X) remains the key foreign market for retreaded pneumatic tyres exports from Bahrain, comprising 41% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy stood at -14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+2.5% per year) and Austria (-24.7% per year).

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, waning by -15% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, retreaded pneumatic tyre export price increased by +102.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 72% against the previous year. The export price peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Austria ($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 Austria (+11.2%), while the prices for the other major destinations experienced a decline.

Retreaded Pneumatic Tyre Imports

Imports into Bahrain

In 2022, after two years of decline, there was significant growth in overseas purchases of retreaded pneumatic tyres, when their volume increased by 6.7% to X units. Overall, imports continue to indicate a measured increase. The pace of growth appeared the most rapid in 2015 when imports increased by 490% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports reduced to $X in 2022. Over the period under review, imports showed a slight increase. The growth pace was the most rapid in 2015 with an increase of 940%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

France (X units), the United Arab Emirates (X units) and Austria (X units) were the main suppliers of retreaded pneumatic tyre imports to Bahrain, together accounting for 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +42.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of retreaded pneumatic tyres to Bahrain, comprising 47% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+82.7% per year) and Saudi Arabia (+43.4% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, dropping by -11.5% against the previous year. Over the period under review, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 76%. The import price peaked at $X per unit in 2018; however, from 2019 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 Sri Lanka ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+45.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform