Finland: Passenger Car Tire Market Overview 2021

Passenger Car Tire Market Size in Finland

The Finnish passenger car tire market surged to $X in 2020, increasing by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Tire Production in Finland

In value terms, passenger car tire production expanded notably to $X in 2020 estimated in export prices. Over the period under review, the total production indicated a modest increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level in 2020 and is likely to continue growth in the immediate term.

Passenger Car Tire Exports

Exports from Finland

In 2020, shipments abroad of tyres for motor cars decreased by -X% to X units, falling for the second consecutive year after two years of growth. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Exports peaked at X units in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, passenger car tire exports shrank rapidly to $X in 2020. Overall, exports saw a perceptible reduction. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. As a result, exports reached the peak of $X. From 2012 to 2020, the growth exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for passenger car tire exports from Finland, accounting for a X% share of total exports. Moreover, passenger car tire exports to Sweden exceeded the volume sent to the second major destination, Norway (X units), twofold. The third position in this ranking was occupied by Russia (X units), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Sweden stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-X% per year) and Russia (-X% per year).

In value terms, Sweden ($X) remains the key foreign market for passenger car tire exports from Finland, comprising X% of total exports. The second position in the ranking was occupied by Norway ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-X% per year) and Russia (-X% per year).

Export Prices by Country

In 2020, the average passenger car tire export price amounted to $X per unit, reducing by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 an increase of X% year-to-year. The export price peaked at $X per unit in 2013; however, from 2014 to 2020, export prices failed to regain the momentum.

Average prices varied noticeably for the major foreign markets. In 2020, the countries with the highest prices were the U.S. ($X per unit) and Canada ($X per unit), while the average price for exports to Sweden ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Russia, while the prices for the other major destinations experienced a decline.

Passenger Car Tire Imports

Imports into Finland

In 2020, passenger car tire imports into Finland dropped to X units, waning by -X% against the previous year's figure. Over the period under review, imports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Imports peaked at X units in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

In value terms, passenger car tire imports reached $X in 2020. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Russia (X units) constituted the largest supplier of passenger car tire to Finland, with a X% share of total imports. Moreover, passenger car tire imports from Russia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was occupied by Sweden (X units), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Russia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Sweden (-X% per year).

In value terms, Russia ($X) constituted the largest supplier of passenger car tire to Finland, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Russia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Sweden (-X% per year).

Import Prices by Country

In 2020, the average passenger car tire import price amounted to $X per unit, growing by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from France ($X per unit) and South Korea ($X per unit), while the price for Estonia ($X per unit) and Sweden ($X per unit) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tyres for motor cars in the world?

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The countries with the highest volumes of passenger car tire consumption in 2020 were China (531M units), the U.S. (341M units) and India (119M units), together comprising 49% of global consumption.

What are the largest producers of tyres for motor cars in the world?

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The country with the largest volume of passenger car tire production was China (711M units), accounting for 36% of total volume. Moreover, passenger car tire production in China exceeded the figures recorded by the second-largest producer, the U.S. (193M units), fourfold. The third position in this ranking was occupied by India (119M units), with a 6% share.

What are the leading suppliers of tyres for motor cars to Finland?

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In value terms, Russia ($70M) constituted the largest supplier of passenger car tire to Finland, comprising 31% of total imports. The second position in the ranking was occupied by China ($31M), with a 13% share of total imports. It was followed by Sweden, with a 12% share.

What are the leading importers of tyres for motor cars from Finland?

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In value terms, Sweden ($66M) remains the key foreign market for passenger car tire exports from Finland, comprising 32% of total exports. The second position in the ranking was occupied by Norway ($31M), with a 15% share of total exports. It was followed by Russia, with a 5.6% share.

What is the average export price for tyres for motor cars in Finland?

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The average passenger car tire export price stood at $71 per unit in 2020, which is down by -8.5% against the previous year.

What is the average import price for tyres for motor cars in Finland?

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The average passenger car tire import price stood at $57 per unit in 2020, surging by 22% against the previous year.