Vietnam: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Vietnam

After two years of growth, the Vietnamese retreaded pneumatic tyre market decreased by -21.3% to $X in 2022. Overall, consumption faced a abrupt slump. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in Vietnam

In value terms, retreaded pneumatic tyre production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 22% against the previous year. Retreaded pneumatic tyre production peaked at $X in 2021, and then contracted in the following year.

Retreaded Pneumatic Tyre Exports

Exports from Vietnam

In 2022, shipments abroad of retreaded pneumatic tyres was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, recorded a deep setback. The pace of growth was the most pronounced in 2016 when exports increased by 254%. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports rose significantly to $X in 2022. In general, exports posted a moderate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 312% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X units), Hong Kong SAR (X units) and Thailand (X units) were the main destinations of retreaded pneumatic tyre exports from Vietnam, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +108.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for retreaded pneumatic tyre exported from Vietnam were Hong Kong SAR ($X), Thailand ($X) and Canada ($X), together comprising 98% of total exports.

Among the main countries of destination, Canada, with a CAGR of +237.6%, 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 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, which is down by -7.1% against the previous year. In general, the export price, however, showed a prominent expansion. The pace of growth was the most pronounced in 2014 when the average export price increased by 71% against the previous year. The export price peaked at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Germany ($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 Canada (+61.7%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Vietnam

Retreaded pneumatic tyre imports into Vietnam contracted to X units in 2022, which is down by -8.5% compared with the previous year's figure. Overall, imports continue to indicate a precipitous shrinkage. The growth pace was the most rapid in 2017 with an increase of 92%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports fell markedly to $X in 2022. Over the period under review, imports showed a noticeable decrease. The pace of growth was the most pronounced in 2017 when imports increased by 115%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X units), the United States (X units) and Japan (X units) were the main suppliers of retreaded pneumatic tyre imports to Vietnam, together comprising 84% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of retreaded pneumatic tyres to Vietnam, comprising 47% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 20% share of total imports. It was followed by the United States, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +31.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-8.5% per year) and the United States (+3.5% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, declining by -17.9% against the previous year. Overall, the import price, however, showed a significant expansion. The pace of growth was the most pronounced in 2019 an increase of 238%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then fell dramatically 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 Japan ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+551.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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