Sri Lanka: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Sri Lanka

The Sri Lankan retreaded pneumatic tyre market was estimated at $X in 2022, picking up by 1.9% against the previous year. In general, consumption, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2020 with an increase of 7.4%. Retreaded pneumatic tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in Sri Lanka

In value terms, retreaded pneumatic tyre production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable contraction. The growth pace was the most rapid in 2020 when the production volume increased by 9.6%. 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 Sri Lanka

For the fourth consecutive year, Sri Lanka recorded decline in shipments abroad of retreaded pneumatic tyres, which decreased by -47.9% to X units in 2022. In general, exports saw a dramatic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 76%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports declined rapidly to $X in 2022. Over the period under review, exports showed a dramatic descent. The pace of growth was the most pronounced in 2013 when exports increased by 9.5%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X units) was the main destination for retreaded pneumatic tyre exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at +42.6%.

In value terms, Maldives ($X) emerged as the key foreign market for retreaded pneumatic tyres exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at +38.7%.

Export Prices by Country

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, declining by -74.4% against the previous year. Over the period under review, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 127% against the previous year. The export price peaked at $X per unit in 2021, and then shrank notably in the following year.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Norway amounted to +20.9% per year.

Retreaded Pneumatic Tyre Imports

Imports into Sri Lanka

In 2022, after three years of decline, there was significant growth in supplies from abroad of retreaded pneumatic tyres, when their volume increased by 9.9% to X units. Over the period under review, imports, however, continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2015 with an increase of 587% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports declined slightly to $X in 2022. Overall, imports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units) constituted the largest retreaded pneumatic tyre supplier to Sri Lanka, with a 50% share of total imports. Moreover, retreaded pneumatic tyre imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by Australia (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Hong Kong SAR was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-17.0% per year) and Australia (+39.0% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of retreaded pneumatic tyres to Sri Lanka, comprising 91% of total imports. The second position in the ranking was taken by India ($X), with a 2.5% share of total imports. It was followed by the United Arab Emirates, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value from Hong Kong SAR stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.7% per year) and the United Arab Emirates (-19.2% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, shrinking by -10.7% against the previous year. In general, the import price, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 821% against the previous year. 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 Hong Kong SAR ($X per unit), while the price for Australia ($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 (+41.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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