Kuwait: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Kuwait

The Kuwaiti retreaded pneumatic tyre market contracted modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, recorded resilient growth. Retreaded pneumatic tyre consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Retreaded Pneumatic Tyre Production in Kuwait

In value terms, retreaded pneumatic tyre production reduced to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 76% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Kuwait

In 2022, shipments abroad of retreaded pneumatic tyres was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, faced a precipitous setback. The growth pace was the most rapid in 2013 when exports increased by 66% against the previous year. As a result, the exports reached 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 surged to $X in 2022. Over the period under review, exports, however, faced a dramatic curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 369% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X units) and Iraq (X units) were the main destinations of retreaded pneumatic tyre exports from Kuwait.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of -30.7%).

In value terms, Jordan ($X) remains the key foreign market for retreaded pneumatic tyres exports from Kuwait, comprising 86% of total exports. The second position in the ranking was taken by Iraq ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Jordan stood at -22.8%.

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, with a decrease of -1.7% against the previous year. Overall, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 an increase of 322% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per unit), while the average price for exports to Iraq stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+11.3%).

Retreaded Pneumatic Tyre Imports

Imports into Kuwait

In 2022, overseas purchases of retreaded pneumatic tyres increased by 26% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 99%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports stood at $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 59%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of retreaded pneumatic tyre to Kuwait, with a 70% share of total imports. Moreover, retreaded pneumatic tyre imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. The third position in this ranking was taken by France (X units), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-27.1% per year) and France (-8.2% per year).

In value terms, France ($X), the United States ($X) and the UK ($X) were the largest retreaded pneumatic tyre suppliers to Kuwait, together accounting for 64% of total imports.

Among the main suppliers, the United States, with a CAGR of +16.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, dropping by -17.8% against the previous year. Over the period under review, the import price, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 308%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, 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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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