Kenya: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Kenya

The Kenyan tyre cord fabric market soared to $X in 2021, jumping by 36% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Tyre Cord Fabric Exports

Exports from Kenya

In 2021, shipments abroad of tyre cord fabric of high tenacity yarn decreased by -53.6% to X kg, falling for the third consecutive year after two years of growth. In general, exports showed a sharp contraction. The growth pace was the most rapid in 2017 when exports increased by 482%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, tyre cord fabric exports declined notably to $X in 2021. Over the period under review, exports faced a significant contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 481%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Uganda (X kg), South Sudan (X kg) and Rwanda (X kg) were the main destinations of tyre cord fabric exports from Kenya.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Sudan (with a CAGR of +12.5%), while the other leaders experienced a decline.

In value terms, Uganda ($X) remains the key foreign market for tyre cord fabric of high tenacity yarn exports from Kenya, comprising 66% of total exports. The second position in the ranking was taken by Rwanda ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Uganda totaled -27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (-23.9% per year) and South Sudan (+39.3% per year).

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2021, falling by -22.2% against the previous year. Over the period under review, the export price continues to indicate a slight decline. The pace of growth was the most pronounced in 2016 when the average export price increased by 116%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to South Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Sudan (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Cord Fabric Imports

Imports into Kenya

In 2021, approx. X tons of tyre cord fabric of high tenacity yarn were imported into Kenya; increasing by 32% compared with 2020. Overall, imports, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2018 when imports increased by 165% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, tyre cord fabric imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 197%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of tyre cord fabric to Kenya, with a 38% share of total imports. Moreover, tyre cord fabric imports from South Korea exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. South Africa (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-10.0% per year) and South Africa (+108.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of tyre cord fabric of high tenacity yarn to Kenya, comprising 43% of total imports. The second position in the ranking was taken by Egypt ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled +47.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-16.1% per year) and the United Arab Emirates (-28.2% per year).

Import Prices by Country

In 2021, the average tyre cord fabric import price amounted to $X per ton, rising by 4.3% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 12% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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