Bulgaria: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Bulgaria

In 2022, the Bulgarian retreaded pneumatic tyre market increased by 12% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a temperate expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Retreaded Pneumatic Tyre Production in Bulgaria

In value terms, retreaded pneumatic tyre production surged to $X in 2022 estimated in export price. Overall, production enjoyed a temperate increase. The pace of growth was the most pronounced in 2021 when the production volume increased by 149% against the previous year. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in years to come.

Retreaded Pneumatic Tyre Exports

Exports from Bulgaria

In 2022, approx. X units of retreaded pneumatic tyres were exported from Bulgaria; surging by 85% compared with the previous year's figure. Overall, exports posted prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 87% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports surged to $X in 2022. In general, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 138% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Serbia (X units), North Macedonia (X units) and Spain (X units) were the main destinations of retreaded pneumatic tyre exports from Bulgaria, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +38.3%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) remains the key foreign market for retreaded pneumatic tyres exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was taken by Spain ($X), with a 15% share of total exports. It was followed by North Macedonia, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to Serbia amounted to +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+21.6% per year) and North Macedonia (-9.4% per year).

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, jumping by 16% against the previous year. In general, the export price showed a slight increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 85% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to North Macedonia ($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 Czech Republic (+6,736.3%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Bulgaria

Retreaded pneumatic tyre imports into Bulgaria declined to X units in 2022, falling by -9.2% compared with 2021 figures. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 193%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports surged to $X in 2022. Overall, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 151% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of retreaded pneumatic tyre to Bulgaria, with a 56% share of total imports. Moreover, retreaded pneumatic tyre imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold. Spain (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+70.6% per year) and Spain (+5.9% per year).

In value terms, Germany ($X) constituted the largest supplier of retreaded pneumatic tyres to Bulgaria, comprising 39% of total imports. The second position in the ranking was taken by Spain ($X), with an 18% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+24.4% per year) and the Netherlands (+53.7% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, jumping by 28% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 import price increased by +102.5% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 58% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+48.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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