Sri Lanka: Tyre Market 2025

Tyre Market Size in Sri Lanka

In 2022, the Sri Lankan tyre market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption continues to indicate a mild decrease. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Tyre Production in Sri Lanka

In value terms, tyre production declined slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Tyre Exports

Exports from Sri Lanka

Tyre exports from Sri Lanka fell to X units in 2022, remaining stable against 2021 figures. In general, total exports indicated a measured expansion 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 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, tyre exports declined to $X in 2022. Over the period under review, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Tanzania (X units), Brazil (X units) and Italy (X units) were the main destinations of tyre exports from Sri Lanka, with a combined X% share of total exports. The United States, the Netherlands, Germany, Belgium, Bangladesh, Latvia, India, Egypt, the United Arab Emirates and Sweden lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for tyres exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Tanzania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Tanzania (X% per year).

Export Prices by Country

The average tyre export price stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Tanzania ($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 Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into Sri Lanka

Tyre imports into Sri Lanka dropped dramatically to X units in 2022, falling by X% on 2021 figures. Overall, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tyre imports shrank remarkably to $X in 2022. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, China (X units) constituted the largest tyre supplier to Sri Lanka, with a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, dropping by X% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price 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, tyre import price decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Indonesia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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