United Kingdom: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in the UK

In 2022, the UK retreaded pneumatic tyre market increased by 12% to $X, rising for the fifth year in a row after five years of decline. Overall, consumption, however, showed a slight downturn. Retreaded pneumatic tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Retreaded Pneumatic Tyre Production in the UK

In value terms, retreaded pneumatic tyre production declined modestly to $X in 2022 estimated in export price. Over the period under review, production saw a mild decline. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Retreaded Pneumatic Tyre Exports

Exports from the UK

In 2022, overseas shipments of retreaded pneumatic tyres decreased by -10.3% to X units, falling for the fifth consecutive year after two years of growth. In general, exports faced a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 72% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports dropped slightly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 34%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units) was the main destination for retreaded pneumatic tyre exports from the UK, accounting for a 27% share of total exports. Moreover, retreaded pneumatic tyre exports to France exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. Panama (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-15.9% per year) and Panama (-10.9% per year).

In value terms, France ($X) remains the key foreign market for retreaded pneumatic tyres exports from the UK, comprising 42% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.3% per year) and Germany (-7.4% per year).

Export Prices by Country

The average retreaded pneumatic tyre export price stood at $X per unit in 2022, picking up by 7.9% against the previous year. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 an increase of 73%. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Grenada ($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 Honduras (+56.9%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into the UK

In 2022, purchases abroad of retreaded pneumatic tyres increased by 75% to X units, rising for the second consecutive year after two years of decline. Overall, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, retreaded pneumatic tyre imports fell sharply to $X in 2022. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 148%. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

Germany (X units), the Netherlands (X units) and Spain (X units) were the main suppliers of retreaded pneumatic tyre imports to the UK, together comprising 79% of total imports. The United States, Thailand, France, Romania, China, Italy, Austria, Switzerland and Ireland lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +78.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of retreaded pneumatic tyres to the UK, comprising 44% of total imports. The second position in the ranking was held by Spain ($X), with an 18% share of total imports. It was followed by the United States, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+17.4% per year) and the United States (+24.4% per year).

Import Prices by Country

In 2022, the average retreaded pneumatic tyre import price amounted to $X per unit, reducing by -52% against the previous year. Overall, the import price, however, showed a notable increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 58%. As a result, import price reached the peak level of $X per unit, and then shrank sharply in the following year.

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 Italy ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+37.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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