Middle East: Tyre Market 2024

Tyre Market Size in the Middle East

The Middle Eastern tyre market reduced to $X in 2022, dropping by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Tyre Production in the Middle East

In value terms, tyre production fell to $X in 2022 estimated in export price. Overall, production posted strong growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports in the Middle East

In 2022, overseas shipments of tyres increased by X% to X units, rising for the third consecutive year after two years of decline. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tyre exports surged to $X in 2022. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the major exporter of tyres in the Middle East, with the volume of exports amounting to X units, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), making up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%).

In value terms, Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Tyre Imports

Imports in the Middle East

In 2022, tyre imports in the Middle East declined to X units, which is down by X% compared with the year before. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tyre imports reduced slightly to $X in 2022. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) and the United Arab Emirates (X units) were the major importers of tyres in the Middle East, together resulting at approx. X% of total imports. Iraq (X units) ranks next in terms of the total imports with a X% share, followed by Israel (X%) and Iran (X%). The following importers - Kuwait (X units), Yemen (X units), Oman (X units), Qatar (X units), Lebanon (X units), Syrian Arab Republic (X units) and Bahrain (X units) - together made up X% of total imports.

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

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iraq ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Iran, Israel, Oman, Kuwait, Qatar, Yemen, Lebanon, Bahrain and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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, growing by X% against the previous year. Over the period under review, the import price, however, saw a slight decrease. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 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 Iran ($X per unit), while Syrian Arab Republic ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :