Cote d'Ivoire: Tyre Market 2024

Tyre Market Size in Cote d'Ivoire

After three years of growth, the Cote d'Ivoire's tyre market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Tyre consumption peaked at $X in 2021, and then contracted in the following year.

Tyre Production in Cote d'Ivoire

In value terms, tyre production expanded remarkably to $X in 2022 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Tyre production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tyre Exports

Exports from Cote d'Ivoire

For the third year in a row, Cote d'Ivoire recorded growth in shipments abroad of tyres, which increased by X% to X units in 2022. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tyre exports surged to $X in 2022. Over the period under review, exports saw prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X units) was the main destination for tyre exports from Cote d'Ivoire, accounting for a X% share of total exports. Moreover, tyre exports to Ghana exceeded the volume sent to the second major destination, Burkina Faso (X units), threefold. The third position in this ranking was held by Gabon (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ghana stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Gabon (X% per year).

In value terms, the largest markets for tyre exported from Cote d'Ivoire were Gabon ($X), Ghana ($X) and Liberia ($X), together accounting for X% of total exports.

Gabon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tyre export price stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price continues to indicate a significant increase. The growth pace was the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Burkina Faso ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into Cote d'Ivoire

After two years of growth, overseas purchases of tyres decreased by X% to X units in 2022. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, tyre imports fell to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

China (X units), India (X units) and Thailand (X units) were the main suppliers of tyre imports to Cote d'Ivoire, with a combined X% 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 Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of tyres to Cote d'Ivoire, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

Import Prices by Country

The average tyre import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price recorded strong growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform