Retreaded Pneumatic Tyre Market

The article discusses the increasing demand for retreaded pneumatic tyres globally, with consumption and production expected to rise over the next eight years. By 2030, the market is projected to reach 94M units in volume and $9.9B in value. Key highlights include market trends, consumption patterns, production volumes, import and export figures, growth rates, and country-specific data on consumption, production, imports, and exports.

Market Forecast

Driven by rising demand for retreaded pneumatic tyre worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.0% for the period from 2022 to 2030, which is projected to bring the market volume to 94M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market value to $9.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Retreaded Pneumatic Tyres

Global retreaded pneumatic tyre consumption expanded slightly to 94M units in 2022, with an increase of 3.6% on the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak volume of 127M units. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global retreaded pneumatic tyre market value rose significantly to $8.5B in 2022, picking up by 6.5% 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, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $10.1B. From 2014 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The United States (33M units) constituted the country with the largest volume of retreaded pneumatic tyre consumption, comprising approx. 35% of total volume. Moreover, retreaded pneumatic tyre consumption in the United States exceeded the figures recorded by the second-largest consumer, China (13M units), threefold. Italy (5.6M units) ranked third in terms of total consumption with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume in the United States stood at +1.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+0.3% per year) and Italy (+18.9% per year).

In value terms, the United States ($1.4B), Japan ($1.1B) and India ($792M) were the countries with the highest levels of market value in 2022, with a combined 39% share of the global market. Italy, China, Brazil, Indonesia, Bangladesh, the UK, Pakistan, Afghanistan and Germany lagged somewhat behind, together accounting for a further 32%.

In terms of the main consuming countries, Italy, with a CAGR of +18.5%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of retreaded pneumatic tyre per capita consumption in 2022 were Afghanistan (119 units per million persons), the United States (99 units per million persons) and Italy (95 units per million persons).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +19.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Retreaded Pneumatic Tyres

In 2022, global retreaded pneumatic tyre production stood at 93M units, with an increase of 5% on the previous year's figure. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 31% against the previous year. As a result, production reached the peak volume of 128M units. From 2014 to 2022, global production growth remained at a somewhat lower figure.

In value terms, retreaded pneumatic tyre production declined to $8B in 2022 estimated in export price. In general, production, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 9.1%. As a result, production attained the peak level of $10.3B. From 2015 to 2022, global production growth failed to regain momentum.

Production By Country

The United States (35M units) constituted the country with the largest volume of retreaded pneumatic tyre production, comprising approx. 37% of total volume. Moreover, retreaded pneumatic tyre production in the United States exceeded the figures recorded by the second-largest producer, China (13M units), threefold. Italy (5.8M units) ranked third in terms of total production with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States amounted to +1.4%. In the other countries, the average annual rates were as follows: China (-0.7% per year) and Italy (+17.0% per year).

Imports

World Imports of Retreaded Pneumatic Tyres

In 2022, after four years of growth, there was decline in supplies from abroad of retreaded pneumatic tyres, when their volume decreased by -1.2% to 11M units. Overall, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.4% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 40% against the previous year. Global imports peaked at 12M units in 2021, and then fell modestly in the following year.

In value terms, retreaded pneumatic tyre imports amounted to $876M in 2022. In general, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.5% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 28% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, Afghanistan (4.9M units) represented the main importer of retreaded pneumatic tyres, committing 43% of total imports. It was distantly followed by France (916K units) and the UK (614K units), together creating a 13% share of total imports. The following importers - the Netherlands (394K units), Spain (388K units), Austria (351K units), Poland (221K units), Germany (212K units) and Guyana (171K units) - together made up 15% of total imports.

Afghanistan was also the fastest-growing in terms of the retreaded pneumatic tyres imports, with a CAGR of +20.1% from 2012 to 2022. At the same time, Spain (+11.3%), France (+10.9%), Austria (+8.9%) and the UK (+2.1%) displayed positive paces of growth. Guyana experienced a relatively flat trend pattern. By contrast, Poland (-1.8%), Germany (-2.9%) and the Netherlands (-12.5%) illustrated a downward trend over the same period. While the share of Afghanistan (+34 p.p.), France (+4.4 p.p.) and Spain (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the Netherlands (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest retreaded pneumatic tyre importing markets worldwide were Afghanistan ($137M), France ($110M) and the Netherlands ($50M), together comprising 34% of global imports.

In terms of the main importing countries, Afghanistan, with a CAGR of +15.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Retreaded tyres of rubber of a kind used on motor cars represented the largest imported product with an import of about 7.3M units, which recorded 64% of total imports. It was distantly followed by retreaded tyres of rubber of a kind used on buses and lorries (3.1M units) and retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (0.6M units), together creating a 33% share of total imports. Retreaded tyres; of a kind used on aircraft (282K units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to retreaded tyres of rubber of a kind used on motor cars imports of stood at +3.9%. At the same time, retreaded tyres; of a kind used on aircraft (+4.2%) and retreaded tyres of rubber of a kind used on buses and lorries (+2.7%) displayed positive paces of growth. Moreover, retreaded tyres; of a kind used on aircraft emerged as the fastest-growing type imported in the world, with a CAGR of +4.2% from 2012-2022. By contrast, retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (-3.8%) illustrated a downward trend over the same period. While the share of retreaded tyres of rubber of a kind used on motor cars (+5.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (-5.5 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, retreaded tyres of rubber of a kind used on buses and lorries ($450M) constitutes the largest type of retreaded pneumatic tyres imported worldwide, comprising 51% of global imports. The second position in the ranking was held by retreaded tyres of rubber of a kind used on motor cars ($214M), with a 24% share of global imports. It was followed by retreaded tyres; of a kind used on aircraft, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of retreaded tyres of rubber of a kind used on buses and lorries imports totaled +2.7%. With regard to the other imported products, the following average annual rates of growth were recorded: retreaded tyres of rubber of a kind used on motor cars (+6.5% per year) and retreaded tyres; of a kind used on aircraft (+7.2% per year).

Import Prices By Type

In 2022, the average retreaded pneumatic tyre import price amounted to $77 per unit, increasing by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2015 when the average import price increased by 16% against the previous year. Global import price peaked at $100 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was retreaded tyres; of a kind used on aircraft ($538 per unit), while the price for retreaded tyres of rubber of a kind used on motor cars ($30 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (+3.7%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average retreaded pneumatic tyre import price amounted to $77 per unit, picking up by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2015 an increase of 16% against the previous year. Global import price peaked at $100 per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($223 per unit), while Guyana ($11 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Retreaded Pneumatic Tyres

In 2022, the amount of retreaded pneumatic tyres exported worldwide rose rapidly to 10M units, picking up by 12% compared with 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 17%. Over the period under review, the global exports reached the maximum at 10M units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports expanded notably to $734M in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs at $766M in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, the United States (1.5M units), Germany (1.3M units), Belgium (1.1M units), Spain (1M units) and France (0.9M units) represented the key exporter of retreaded pneumatic tyres in the world, mixing up 58% of total export. Thailand (591K units) took the next position in the ranking, followed by the Netherlands (458K units) and Australia (453K units). All these countries together held approx. 15% share of total exports. The following exporters - Italy (331K units), Romania (327K units), the UK (313K units), Poland (278K units) and Malaysia (253K units) - each resulted at a 15% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the United States (with a CAGR of +13.9%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($174M) remains the largest retreaded pneumatic tyre supplier worldwide, comprising 24% of global exports. The second position in the ranking was held by Spain ($74M), with a 10% share of global exports. It was followed by France, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+6.2% per year) and France (-2.6% per year).

Exports By Type

Retreaded tyres of rubber of a kind used on motor cars (3.5M units) and retreaded tyres of rubber of a kind used on buses and lorries (3.3M units) represented roughly 75% of total exports in 2022. It was distantly followed by retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (1.8M units) and retreaded tyres; of a kind used on aircraft (0.5M units), together committing a 25% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by retreaded tyres of rubber of a kind used on buses and lorries (with a CAGR of +1.7%), while the other products experienced mixed trends in the exports figures.

In value terms, retreaded tyres of rubber of a kind used on buses and lorries ($409M) remains the largest type of retreaded pneumatic tyres supplied worldwide, comprising 58% of global exports. The second position in the ranking was taken by retreaded tyres; of a kind used on aircraft ($171M), with a 24% share of global exports. It was followed by retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft, with a 10% share.

For retreaded tyres of rubber of a kind used on buses and lorries, exports remained relatively stable over the period from 2012-2022. With regard to the other exported products, the following average annual rates of growth were recorded: retreaded tyres; of a kind used on aircraft (+1.1% per year) and retreaded tyres; other than of a kind used on motor cars (including station wagons and racing cars), buses and lorries and aircraft (-2.0% per year).

Export Prices By Type

In 2022, the average retreaded pneumatic tyre export price amounted to $74 per unit, which is down by -4.6% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 18%. Over the period under review, the average export prices hit record highs at $98 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was retreaded tyres; of a kind used on aircraft ($360 per unit), while the average price for exports of retreaded tyres of rubber of a kind used on motor cars ($16 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by retreaded tyres; of a kind used on aircraft (+0.2%), while the other products experienced a decline in the export price figures.

Export Prices By Country

In 2022, the average retreaded pneumatic tyre export price amounted to $74 per unit, reducing by -4.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 18% against the previous year. The global export price peaked at $98 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($146 per unit), while Romania ($19 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+22.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform