Hong Kong SAR, China: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Hong Kong SAR, China

The Hong Kong retreaded pneumatic tyre market dropped markedly to $X in 2022, waning by -21.9% against the previous year. In general, consumption continues to indicate a noticeable decrease. Over the period under review, the market attained the peak level at $X in 2021, and then declined remarkably in the following year.

Retreaded Pneumatic Tyre Production in Hong Kong SAR, China

In value terms, retreaded pneumatic tyre production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 117% against the previous year. Retreaded pneumatic tyre production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of retreaded pneumatic tyres increased by 31% to X units, rising for the second year in a row after five years of decline. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2013 when exports increased by 381% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 52%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X units), China (X units) and South Korea (X units) were the main destinations of retreaded pneumatic tyre exports from Hong Kong SAR, together accounting for 52% of total exports. Vietnam, India, Taiwan (Chinese), the Philippines, Indonesia, Malaysia and Singapore lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +11.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for retreaded pneumatic tyre exported from Hong Kong SAR were South Korea ($X), Taiwan (Chinese) ($X) and Thailand ($X), with a combined 49% share of total exports. Vietnam, India, the Philippines, Singapore, China, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 45%.

The Philippines, with a CAGR of +34.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, surging by 2.4% against the previous year. In general, the export price posted prominent growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 114% against the previous year. 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.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to China ($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 Vietnam (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Hong Kong SAR, China

In 2022, retreaded pneumatic tyre imports into Hong Kong SAR soared to X units, jumping by 45% on the previous year's figure. In general, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 192%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, retreaded pneumatic tyre imports expanded to $X in 2022. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 166%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Thailand (X units) constituted the largest retreaded pneumatic tyre supplier to Hong Kong SAR, with a 52% share of total imports. Moreover, retreaded pneumatic tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.4% per year) and the United States (+3.7% per year).

In value terms, Thailand ($X) constituted the largest supplier of retreaded pneumatic tyres to Hong Kong SAR, comprising 80% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by the United States, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and the United States (+10.9% per year).

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, shrinking by -30.1% against the previous year. Overall, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 113% against the previous year. The import price peaked at $X per unit in 2021, and then dropped dramatically in the following year.

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 Thailand ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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