Latin America and the Caribbean: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Latin America and the Caribbean

The Latin American retreaded pneumatic tyre market dropped to $X in 2022, which is down by -5.9% against the previous year. Overall, consumption continues to indicate a pronounced downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in Latin America and the Caribbean

In value terms, retreaded pneumatic tyre production fell to $X in 2022 estimated in export price. Over the period under review, production saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Exports

Exports in Latin America and the Caribbean

In 2022, the amount of retreaded pneumatic tyres exported in Latin America and the Caribbean declined to X units, which is down by -7.5% on the year before. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 77% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports rose rapidly to $X in 2022. Over the period under review, exports recorded a slight descent. The most prominent rate of growth was recorded in 2015 when exports increased by 24% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Panama dominates exports structure, reaching X units, which was approx. 62% of total exports in 2022. Guatemala (X units) took the second position in the ranking, followed by Venezuela (X units). All these countries together took near 15% share of total exports. Argentina (X units), Colombia (X units), Curacao (X units), the Dominican Republic (X units), Brazil (X units), Chile (X units), Bahamas (X units) and Trinidad and Tobago (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to retreaded pneumatic tyre exports from Panama stood at +11.3%. At the same time, Curacao (+65.0%), the Dominican Republic (+36.4%), Venezuela (+20.9%), Argentina (+17.7%), Brazil (+14.8%), Chile (+11.7%), Bahamas (+3.7%) and Guatemala (+3.2%) displayed positive paces of growth. Moreover, Curacao emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +65.0% from 2012-2022. By contrast, Trinidad and Tobago (-1.2%) and Colombia (-13.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Panama, Venezuela, Guatemala, Argentina, Curacao, the Dominican Republic and Brazil increased by +50, +5.6, +5, +2.9, +2.8, +2.1 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest retreaded pneumatic tyre supplying countries in Latin America and the Caribbean were Panama ($X), the Dominican Republic ($X) and Guatemala ($X), together comprising 62% of total exports.

The Dominican Republic, with a CAGR of +93.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, jumping by 16% against the previous year. Over the period under review, the export price recorded a tangible increase. The most prominent rate of growth was recorded in 2014 an increase of 143%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while Curacao ($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 Dominican Republic (+41.9%), while the other leaders experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of retreaded pneumatic tyres were imported in Latin America and the Caribbean; waning by -9.4% compared with 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 80% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports surged to $X in 2022. Overall, imports saw a noticeable downturn. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Guyana (X units) was the major importer of retreaded pneumatic tyres, comprising 39% of total imports. Bolivia (X units) took the second position in the ranking, followed by Mexico (X units), Bahamas (X units) and Suriname (X units). All these countries together held near 32% share of total imports. Panama (X units), Uruguay (X units), Honduras (X units), the Dominican Republic (X units), El Salvador (X units), Chile (X units) and Guatemala (X units) took a minor share of total imports.

Imports into Guyana increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, Uruguay (+28.0%), Suriname (+18.3%), Bahamas (+8.4%), the Dominican Republic (+7.3%) and Panama (+5.3%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +28.0% from 2012-2022. By contrast, El Salvador (-4.6%), Chile (-4.7%), Bolivia (-4.9%), Honduras (-7.1%), Guatemala (-8.8%) and Mexico (-10.0%) illustrated a downward trend over the same period. While the share of Guyana (+16 p.p.), Suriname (+4.7 p.p.), Bahamas (+4.3 p.p.), Uruguay (+3.1 p.p.) and Panama (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guatemala (-2.2 p.p.), Honduras (-3 p.p.), Bolivia (-5.4 p.p.) and Mexico (-15.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported retreaded pneumatic tyres in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was held by the Dominican Republic ($X), with a 9.7% share of total imports. It was followed by El Salvador, with a 9.5% share.

In Mexico, retreaded pneumatic tyre imports increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (+11.4% per year) and El Salvador (-4.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, increasing by 60% against the previous year. Overall, the import price, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2016 an increase of 73%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per unit), while Suriname ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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