Colombia: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Colombia

The Colombian retreaded pneumatic tyre market declined to $X in 2022, with a decrease of -7.6% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Retreaded Pneumatic Tyre Production in Colombia

In value terms, retreaded pneumatic tyre production reduced to $X in 2022 estimated in export price. In general, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 22%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Retreaded Pneumatic Tyre Exports

Exports from Colombia

In 2022, exports of retreaded pneumatic tyres from Colombia rose slightly to X units, increasing by 2.8% against the previous year. In general, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 92%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports fell to $X in 2022. Over the period under review, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2015 when exports increased by 43%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for retreaded pneumatic tyre exports from Colombia, with a 91% share of total exports. Moreover, retreaded pneumatic tyre exports to the United States exceeded the volume sent to the second major destination, Peru (X units), more than tenfold. The third position in this ranking was taken by Panama (X units), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+27.1% per year) and Panama (-39.3% per year).

In value terms, the largest markets for retreaded pneumatic tyre exported from Colombia were the United States ($X), Peru ($X) and Panama ($X), together accounting for 98% of total exports. These countries were followed by Aruba, which accounted for a further 0.3%.

Among the main countries of destination, Aruba, with a CAGR of +27.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, shrinking by -11.7% against the previous year. In general, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 368%. 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 failed to regain momentum.

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 Peru ($X per unit), while the average price for exports to Aruba ($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 Panama (+14.6%), while the prices for the other major destinations experienced mixed trend patterns.

Retreaded Pneumatic Tyre Imports

Imports into Colombia

In 2022, overseas purchases of retreaded pneumatic tyres increased by 1.6% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 608% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports dropped to $X in 2022. Over the period under review, imports recorded a tangible increase. The pace of growth appeared the most rapid in 2018 with an increase of 369%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Panama (X units) was the main retreaded pneumatic tyre supplier to Colombia, with a 96% share of total imports. It was followed by the United States (X units), with a 1.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Panama amounted to +7.3%.

In value terms, Panama ($X) constituted the largest supplier of retreaded pneumatic tyres to Colombia, comprising 92% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Panama amounted to +5.7%.

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, reducing by -9.3% against the previous year. Overall, the import price recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 an increase of 83%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 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 the United States ($X per unit), while the price for Panama stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (-1.5%).

Source: IndexBox Platform

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