Estonia: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Estonia

For the third consecutive year, the Estonian retreaded pneumatic tyre market recorded growth in sales value, which increased by 34% to $X in 2022. In general, consumption, however, recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in Estonia

In value terms, retreaded pneumatic tyre production rose sharply to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 85% against the previous year. Retreaded pneumatic tyre production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Retreaded Pneumatic Tyre Exports

Exports from Estonia

In 2022, overseas shipments of retreaded pneumatic tyres decreased by -12% to X units, falling for the fourth consecutive year after two years of growth. Over the period under review, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2017 with an increase of 122% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports shrank dramatically to $X in 2022. In general, exports continue to indicate a sharp setback. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X units) was the main destination for retreaded pneumatic tyre exports from Estonia, with a 76% share of total exports. Moreover, retreaded pneumatic tyre exports to Finland exceeded the volume sent to the second major destination, Slovakia (X units), sixfold. Iceland (X units) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland totaled -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (0.0% per year) and Iceland (0.0% per year).

In value terms, Finland ($X) remains the key foreign market for retreaded pneumatic tyres exports from Estonia, comprising 76% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 14% share of total exports. It was followed by Latvia, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland stood at -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (0.0% per year) and Latvia (-32.0% per year).

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, reducing by -9.8% against the previous year. Over the period under review, the export price, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2019 an increase of 70%. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per unit), while the average price for exports to Iceland ($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 Germany (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Estonia

In 2022, purchases abroad of retreaded pneumatic tyres increased by 29% to X units, rising for the third year in a row after seven years of decline. Overall, imports, however, saw a significant contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports skyrocketed to $X in 2022. Over the period under review, imports, however, faced a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 83%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X units), Latvia (X units) and Germany (X units) were the main suppliers of retreaded pneumatic tyre imports to Estonia, with a combined 85% share of total imports. Finland, Spain, the UK and China lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +40.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest retreaded pneumatic tyre suppliers to Estonia were Germany ($X), Latvia ($X) and the Netherlands ($X), with a combined 63% share of total imports. Spain, the UK, Finland and China lagged somewhat behind, together comprising a further 29%.

Among the main suppliers, Spain, with a CAGR of +64.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 136%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for the Netherlands ($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 UK (+52.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform