GCC: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in GCC

The GCC retreaded pneumatic tyre market reduced slightly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Production in GCC

In value terms, retreaded pneumatic tyre production fell to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Retreaded Pneumatic Tyre Exports

Exports in GCC

In 2022, after three years of growth, there was significant decline in overseas shipments of retreaded pneumatic tyres, when their volume decreased by X% to X units. Over the period under review, exports recorded a noticeable downturn. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, retreaded pneumatic tyre exports fell to $X in 2022. In general, exports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporting country with an export of about X units, which finished at X% of total exports. Oman (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%).

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the largest retreaded pneumatic tyre supplying countries in GCC were the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

Oman, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price enjoyed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Retreaded Pneumatic Tyre Imports

Imports in GCC

In 2022, overseas purchases of retreaded pneumatic tyres were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, retreaded pneumatic tyre imports soared to $X in 2022. In general, imports, however, saw a perceptible decline. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the key importer of retreaded pneumatic tyres, achieving X% of total imports. It was distantly followed by Kuwait (X units) and Oman (X units), together achieving a X% share of total imports. Saudi Arabia (X units) and Bahrain (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to retreaded pneumatic tyre imports into the United Arab Emirates stood at X%. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%), Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Oman (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported retreaded pneumatic tyres in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform