Eastern Asia: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Eastern Asia

After four years of growth, the East Asian retreaded pneumatic tyre market decreased by -0.6% to $X in 2022. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Retreaded Pneumatic Tyre Production in Eastern Asia

In value terms, retreaded pneumatic tyre production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 24%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Retreaded Pneumatic Tyre Exports

Exports in Eastern Asia

In 2022, overseas shipments of retreaded pneumatic tyres were finally on the rise to reach X units for the first time since 2013, thus ending a eight-year declining trend. In general, exports, however, faced a abrupt slump. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports soared to $X in 2022. Overall, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 30% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X units) and Hong Kong SAR (X units) were the main exporters of retreaded pneumatic tyres in Eastern Asia, together making up 74% of total exports. It was distantly followed by South Korea (X units), committing a 20% share of total exports. Taiwan (Chinese) (X units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of -5.2%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Hong Kong SAR ($X) remains the largest retreaded pneumatic tyre supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with an 18% share of total exports. It was followed by South Korea, with a 15% share.

In Hong Kong SAR, retreaded pneumatic tyre exports increased at an average annual rate of +4.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (-12.5% per year) and South Korea (-11.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, surging by 2.3% against the previous year. Overall, the export price saw a resilient increase. The pace of growth was the most pronounced in 2019 when the export price increased by 57% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.3%), while the other leaders experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports in Eastern Asia

Retreaded pneumatic tyre imports reduced notably to X units in 2022, with a decrease of -30.2% compared with the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 46% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports dropped significantly to $X in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 140%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) represented the major importer of retreaded pneumatic tyres, generating 59% of total imports. Hong Kong SAR (X units) held the second position in the ranking, followed by Japan (X units) and Macao SAR (X units). All these countries together took approx. 35% share of total imports. The following importers - South Korea (X units) and Taiwan (Chinese) (X units) - together made up 5.7% of total imports.

China was also the fastest-growing in terms of the retreaded pneumatic tyres imports, with a CAGR of +24.9% from 2012 to 2022. Macao SAR (-2.2%), Japan (-3.8%), Hong Kong SAR (-7.4%), South Korea (-9.6%) and Taiwan (Chinese) (-13.6%) illustrated a downward trend over the same period. While the share of China (+52 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Macao SAR (-1.6 p.p.), Japan (-6.3 p.p.), South Korea (-6.3 p.p.), Taiwan (Chinese) (-7.9 p.p.) and Hong Kong SAR (-22.7 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported retreaded pneumatic tyres in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +33.5%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+5.4% per year) and Japan (-3.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, increasing by 12% against the previous year. Over the period under review, the import price posted a strong increase. The pace of growth was the most pronounced in 2014 an increase of 64%. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Macao SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+15.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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