The import of retreaded tyres to Viet Nam has shown a fluctuating yet overall increasing trend from 2013 to 2023, with the value standing at 2,075 thousand US dollars in 2023. The year-on-year variation indicates some volatility, with notable increases in years like 2016 (157.05%) and 2015 (282.87%), and declines such as -61.61% in 2014. In recent years, steady growth can be observed: from 2021 to 2023, values rose by 21.42%, 11.18%, and 5.21% respectively. The last five years show a compound annual growth rate (CAGR) of 6.15%. Forecast data suggest continued growth with an estimated CAGR of 3.63% from 2024 to 2028.
Future trends to watch for:
- The impact of evolving environmental regulations on the demand for retreaded tyres.
- Technological advancements improving the quality and lifespan of retreaded tyres.
- Market dynamics influenced by new entrants and competition in the tyre retreading industry.
- Changes in transportation and logistics that might affect import volumes and values.