Guatemala: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Guatemala

In 2022, the Guatemalan retreaded pneumatic tyre market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Guatemala

In 2022, after two years of growth, there was significant decline in shipments abroad of retreaded pneumatic tyres, when their volume decreased by -57.5% to X units. In general, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2013 with an increase of 297% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports declined rapidly to $X in 2022. Over the period under review, exports, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2013 with an increase of 227% 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 lower figure.

Exports by Country

El Salvador (X units) was the main destination for retreaded pneumatic tyre exports from Guatemala, with a 74% share of total exports. Moreover, retreaded pneumatic tyre exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+3.5% per year) and Nicaragua (-29.4% per year).

In value terms, El Salvador ($X) remains the key foreign market for retreaded pneumatic tyres exports from Guatemala, comprising 66% of total exports. The second position in the ranking was held by Honduras ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.6% per year) and Nicaragua (-31.0% per year).

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, picking up by 64% against the previous year. In general, the export price recorded a relatively flat trend pattern. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to El Salvador ($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 Trinidad and Tobago (+39.8%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Guatemala

After three years of decline, overseas purchases of retreaded pneumatic tyres increased by 24% to X units in 2022. Over the period under review, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2018 when imports increased by 33%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports soared to $X in 2022. In general, imports, however, saw a abrupt downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X units) constituted the largest supplier of retreaded pneumatic tyre to Guatemala, accounting for a 58% share of total imports. Moreover, retreaded pneumatic tyre imports from South Korea exceeded the figures recorded by the second-largest supplier, Romania (X units), threefold. The United States (X units) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+1,998.8% per year) and the United States (-14.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of retreaded pneumatic tyres to Guatemala, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 7.7% share of total imports. It was followed by Japan, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.5% per year) and Japan (-8.1% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, picking up by 16% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 24%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 India ($X per unit), while the price for Romania ($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 (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform