Dominican Republic: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in the Dominican Republic

The Dominican retreaded pneumatic tyre market skyrocketed to $X in 2022, with an increase of 106% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Retreaded Pneumatic Tyre Exports

Exports from the Dominican Republic

In 2022, retreaded pneumatic tyre exports from the Dominican Republic declined rapidly to X units, dropping by -17.3% on the previous year. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,368%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports surged to $X in 2022. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2018 with an increase of 2,756% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Cuba (X units) was the main destination for retreaded pneumatic tyre exports from the Dominican Republic, accounting for a 76% share of total exports. Moreover, retreaded pneumatic tyre exports to Cuba exceeded the volume sent to the second major destination, Haiti (X units), fivefold. The third position in this ranking was held by the United States (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba stood at +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+43.0% per year) and the United States (-8.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for retreaded pneumatic tyres exports from the Dominican Republic, comprising 76% of total exports. The second position in the ranking was taken by Haiti ($X), with a 6.1% share of total exports. It was followed by Cuba, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +78.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+56.1% per year) and Cuba (+52.9% per year).

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, jumping by 884% against the previous year. Overall, the export price posted significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Cuba ($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 (+94.9%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into the Dominican Republic

In 2022, approx. X units of retreaded pneumatic tyres were imported into the Dominican Republic; with an increase of 31% compared with the previous year. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 39%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, retreaded pneumatic tyre imports skyrocketed to $X in 2022. In general, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X units), Spain (X units) and China (X units) were the main suppliers of retreaded pneumatic tyre imports to the Dominican Republic, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of retreaded pneumatic tyres to the Dominican Republic, comprising 73% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.6% share of total imports. It was followed by China, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.7% per year) and China (+1.7% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, jumping by 116% against the previous year. In general, the import price saw a temperate expansion. As a result, import price attained 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 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Italy ($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 (+11.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :