Middle East: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in the Middle East

The Middle Eastern retreaded pneumatic tyre market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, saw a noticeable curtailment. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in the Middle East

In value terms, retreaded pneumatic tyre production rose to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports in the Middle East

In 2022, retreaded pneumatic tyre exports in the Middle East fell notably to X units, waning by -32.1% compared with the previous year's figure. Overall, exports showed a perceptible contraction. The pace of growth was the most pronounced in 2014 when exports increased by 215%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, retreaded pneumatic tyre exports reached $X in 2022. Over the period under review, exports saw a perceptible setback. The pace of growth was the most pronounced in 2014 with an increase of 117% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), Israel (X units) and Iran (X units), together reaching 71% of total export. It was distantly followed by Turkey (X units), Oman (X units) and Lebanon (X units), together constituting a 27% share of total exports. Saudi Arabia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +38.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 66% of total exports. Oman, Iran, Lebanon and Saudi Arabia lagged somewhat behind, together comprising a further 29%.

Among the main exporting countries, Saudi Arabia, with a CAGR of +121.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising by 53% against the previous year. In general, the export price, however, recorded a slight decline. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Turkey ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+341.8%), while the other leaders experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports in the Middle East

Retreaded pneumatic tyre imports reduced to X units in 2022, falling by -12.1% against the previous year. Over the period under review, imports saw a abrupt curtailment. The growth pace was the most rapid in 2019 when imports increased by 31%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports shrank to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.8% against 2020 indices. The pace of growth was the most pronounced in 2019 when imports increased by 31%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) was the key importer of retreaded pneumatic tyres, achieving 33% of total imports. It was distantly followed by Turkey (X units), Jordan (X units), Lebanon (X units), Iraq (X units) and Iran (X units), together constituting a 58% share of total imports. Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +21.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 88% of total imports.

Among the main importing countries, Turkey, with a CAGR of +26.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, picking up by 14% against the previous year. Overall, the import price showed buoyant growth. The pace of growth was the most pronounced in 2018 an increase of 47%. The level of import peaked at $X per unit in 2019; however, from 2020 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 Turkey ($X per unit), while Lebanon ($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 United Arab Emirates (+15.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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