Latin America and the Caribbean: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Latin America and the Caribbean

In 2022, the Latin American passenger car tyre market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Production in Latin America and the Caribbean

In value terms, passenger car tyre production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Passenger Car Tyre Exports

Exports in Latin America and the Caribbean

Passenger car tyre exports reduced to X units in 2022, dropping by X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then reduced modestly in the following year.

In value terms, passenger car tyre exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, Mexico (X units) was the largest exporter of tyres for motor cars, achieving X% of total exports. It was distantly followed by Brazil (X units), Chile (X units) and Costa Rica (X units), together constituting a X% share of total exports. The following exporters - Peru (X units), Panama (X units) and Ecuador (X units) - together made up X% of total exports.

Mexico was also the fastest-growing in terms of the tyres for motor cars exports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%), Chile (X%) and Brazil (X%) displayed positive paces of growth. Ecuador experienced a relatively flat trend pattern. By contrast, Costa Rica (X%) and Panama (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest passenger car tyre supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

In Mexico, passenger car tyre exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, growing by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Peru ($X per unit) was amongst the lowest.

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

Passenger Car Tyre Imports

Imports in Latin America and the Caribbean

In 2022, passenger car tyre imports in Latin America and the Caribbean skyrocketed to X units, jumping by X% compared with 2021. Total imports indicated a resilient expansion from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, passenger car tyre imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Mexico represented the main importer of tyres for motor cars in Latin America and the Caribbean, with the volume of imports resulting at X units, which was approx. X% of total imports in 2022. Brazil (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (X%). Argentina (X units), Ecuador (X units), Chile (X units), Bolivia (X units), Peru (X units) and Paraguay (X units) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Bolivia (X%), Peru (X%), Ecuador (X%), Chile (X%), Colombia (X%), Paraguay (X%), Argentina (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Mexico (X p.p.) and Bolivia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported tyres for motor cars in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price saw a perceptible decline. The pace of growth was the most pronounced in 2020 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Paraguay ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :