Chile: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Chile

The Chilean passenger car tyre market expanded significantly to $X in 2021, picking up by 13% against the previous year. In general, consumption, however, recorded temperate growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Passenger Car Tyre Production in Chile

In value terms, passenger car tyre production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.2% against 2012 indices. The growth pace was the most rapid in 2016 when the production volume increased by 13% against the previous year. Passenger car tyre production peaked at $X in 2020, and then reduced in the following year.

Passenger Car Tyre Exports

Exports from Chile

Passenger car tyre exports from Chile skyrocketed to X units in 2021, jumping by 30% against the previous year. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car tyre exports surged to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for passenger car tyre exports from Chile, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +3.3%.

In value terms, the United States ($X) also remains the key foreign market for tyres for motor cars exports from Chile.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, flattening at the previous year. Over the period under review, the export price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.1%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -3.0% per year.

Passenger Car Tyre Imports

Imports into Chile

After three years of decline, purchases abroad of tyres for motor cars increased by 64% to X units in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of passenger car tyre to Chile, with a 73% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. The third position in this ranking was held by South Korea (X units), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+11.9% per year) and South Korea (+1.4% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to Chile, comprising 63% of total imports. The second position in the ranking was held by Brazil ($X), with a 7.4% share of total imports. It was followed by South Korea, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+11.7% per year) and South Korea (-2.9% per year).

Import Prices by Country

The average passenger car tyre import price stood at $X per unit in 2021, picking up by 22% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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