Ecuador: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Ecuador

The Ecuadorian retreaded pneumatic tyre market contracted to $X in 2022, dropping by -2.7% against the previous year. In general, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Retreaded Pneumatic Tyre Production in Ecuador

In value terms, retreaded pneumatic tyre production shrank to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Ecuador

In 2022, retreaded pneumatic tyre exports from Ecuador surged to X units, picking up by 696% against 2021. Overall, exports continue to indicate a strong expansion. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2014 when exports increased by 310% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Guyana (X units) was the main destination for retreaded pneumatic tyre exports from Ecuador, with a 88% share of total exports. Moreover, retreaded pneumatic tyre exports to Guyana exceeded the volume sent to the second major destination, Chile (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guyana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-4.1% per year) and the United States (-26.4% per year).

In value terms, Chile ($X) remains the key foreign market for retreaded pneumatic tyres exports from Ecuador, comprising 78% of total exports. The second position in the ranking was held by Guyana ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile stood at -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (0.0% per year) and the United States (-24.8% per year).

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, reducing by -85.2% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 74%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Guyana ($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 Chile (+2.9%).

Retreaded Pneumatic Tyre Imports

Imports into Ecuador

In 2022, approx. X units of retreaded pneumatic tyres were imported into Ecuador; jumping by 22% against 2021. Overall, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 108% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre imports reached $X in 2022. In general, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when imports increased by 61%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of retreaded pneumatic tyre to Ecuador, accounting for a 62% share of total imports. Moreover, retreaded pneumatic tyre imports from the United States exceeded the figures recorded by the second-largest supplier, Panama (X units), threefold. India (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+4.1% per year) and India (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of retreaded pneumatic tyres to Ecuador, comprising 91% of total imports. The second position in the ranking was held by Panama ($X), with a 9.1% share of total imports. It was followed by India, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-0.5% per year) and India (0.0% per year).

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, declining by -14.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 50%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

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 ($X per unit), while the price for China ($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 (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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