Portugal: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Portugal

In 2022, the Portuguese retreaded pneumatic tyre market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Retreaded Pneumatic Tyre Production in Portugal

In value terms, retreaded pneumatic tyre production surged to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable decline. Retreaded pneumatic tyre production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Retreaded Pneumatic Tyre Exports

Exports from Portugal

After two years of growth, shipments abroad of retreaded pneumatic tyres decreased by -9.7% to X units in 2022. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 38%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports fell modestly to $X in 2022. Overall, exports saw a noticeable downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 50% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units), France (X units) and the Netherlands (X units) were the main destinations of retreaded pneumatic tyre exports from Portugal, with a combined 78% share of total exports. Germany, Belgium, Guinea-Bissau and the UK lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +42.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for retreaded pneumatic tyre exported from Portugal were Spain ($X), the Netherlands ($X) and France ($X), together comprising 85% of total exports. Belgium, Germany, the UK and Guinea-Bissau lagged somewhat behind, together accounting for a further 11%.

Among the main countries of destination, Belgium, with a CAGR of +43.8%, recorded the highest growth rate of 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

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, with an increase of 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2018 when the average export price increased by 16%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Guinea-Bissau ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Portugal

In 2022, overseas purchases of retreaded pneumatic tyres decreased by -5.8% to X units, falling for the fifth consecutive year after two years of growth. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 132%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, retreaded pneumatic tyre imports expanded markedly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 73% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Spain (X units) constituted the largest supplier of retreaded pneumatic tyre to Portugal, with a 81% share of total imports. Moreover, retreaded pneumatic tyre imports from Spain exceeded the figures recorded by the second-largest supplier, Japan (X units), tenfold. The third position in this ranking was taken by Germany (X units), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (0.0% per year) and Germany (+21.2% per year).

In value terms, Spain ($X) constituted the largest supplier of retreaded pneumatic tyres to Portugal, comprising 92% of total imports. The second position in the ranking was taken by Germany ($X), with a 5.4% share of total imports. It was followed by Japan, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.9% per year) and Japan (0.0% per year).

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, rising by 21% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, retreaded pneumatic tyre import price increased by +124.1% against 2017 indices. The growth pace was the most rapid in 2013 when the average import price increased by 62%. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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