Uruguay: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Uruguay

The Uruguayan passenger car tyre market rose remarkably to $X in 2021, surging by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Tyre Exports

Exports from Uruguay

In 2021, after three years of growth, there was significant decline in shipments abroad of tyres for motor cars, when their volume decreased by -27.1% to X units. In general, exports, however, continue to indicate notable growth. The growth pace was the most rapid in 2018 when exports increased by 265%. Over the period under review, the exports reached the maximum at X units in 2020, and then dropped significantly in the following year.

In value terms, passenger car tyre exports shrank rapidly to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 365% against the previous year. The exports peaked at $X in 2020, and then declined sharply in the following year.

Exports by Country

Paraguay (X units), Hong Kong SAR (X units) and the Netherlands (X units) were the main destinations of passenger car tyre exports from Uruguay, with a combined 68% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +84.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Paraguay ($X) and the Netherlands ($X) appeared to be the largest markets for passenger car tyre exported from Uruguay worldwide, together comprising 69% of total exports.

In terms of the main countries of destination, Paraguay, with a CAGR of +101.7%, saw the highest rates of growth with regard to 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

In 2021, the average passenger car tyre export price amounted to $X per unit, with an increase of 5% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car tyre export price increased by +13.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 56% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Uruguay

In 2021, the amount of tyres for motor cars imported into Uruguay declined to X units, shrinking by -10.4% on the year before. Over the period under review, imports saw a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by 12%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, passenger car tyre imports surged to $X in 2021. In general, imports faced a abrupt contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Brazil (X units) and Japan (X units) were the main suppliers of passenger car tyre imports to Uruguay, together accounting for 66% of total imports. These countries were followed by Peru, South Korea, Mexico, Indonesia, Argentina and Thailand, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +22.0%), while purchases for the other leaders experienced a decline.

In value terms, the largest passenger car tyre suppliers to Uruguay were China ($X), Brazil ($X) and Japan ($X), with a combined 67% share of total imports. These countries were followed by Peru, South Korea, Mexico, Indonesia, Argentina and Thailand, which together accounted for a further 16%.

Peru, with a CAGR of +23.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average passenger car tyre import price stood at $X per unit in 2021, increasing by 31% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Thailand ($X per unit) and Argentina ($X per unit), while the price for China ($X per unit) and Brazil ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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