Costa Rica: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Costa Rica

The Costa Rican retreaded pneumatic tyre market contracted to $X in 2022, waning by -1.9% against the previous year. In general, consumption continues to indicate a pronounced decline. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Retreaded Pneumatic Tyre Production in Costa Rica

In value terms, retreaded pneumatic tyre production declined slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Costa Rica

Retreaded pneumatic tyre exports from Costa Rica surged to X units in 2022, jumping by 20% on the previous year. Over the period under review, exports, however, saw a dramatic slump. The pace of growth appeared the most rapid in 2015 when exports increased by 1,624% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports soared to $X in 2022. In general, exports, however, recorded a deep setback. The growth pace was the most rapid in 2015 when exports increased by 548%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for retreaded pneumatic tyre exports from Costa Rica, accounting for a 63% share of total exports. Moreover, retreaded pneumatic tyre exports to the United States exceeded the volume sent to the second major destination, Nicaragua (X units), threefold. Guatemala (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-25.7% per year) and Guatemala (-15.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for retreaded pneumatic tyres exports from Costa Rica, comprising 80% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 9.5% share of total exports. It was followed by Guatemala, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-28.1% per year) and Guatemala (-13.6% per year).

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, with an increase of 55% against the previous year. Over the period under review, the export price enjoyed a temperate increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 172%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 (+16.8%), while the prices for the other major destinations experienced mixed trend patterns.

Retreaded Pneumatic Tyre Imports

Imports into Costa Rica

In 2022, supplies from abroad of retreaded pneumatic tyres was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 81%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports expanded markedly to $X in 2022. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2017 when imports increased by 60% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Panama (X units), Belgium (X units) and the United States (X units) were the main suppliers of retreaded pneumatic tyre imports to Costa Rica, with a combined 97% 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 Panama (with a CAGR of +5.1%), while imports for the other leaders experienced a decline.

In value terms, Panama ($X), the United States ($X) and Belgium ($X) constituted the largest retreaded pneumatic tyre suppliers to Costa Rica, with a combined 88% share of total imports.

In terms of the main suppliers, Belgium, with a CAGR of -11.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, declining by -26.3% against the previous year. In general, the import price recorded a abrupt shrinkage. The growth pace was the most rapid in 2014 an increase of 94% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 United States ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-9.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform