Analyzing the historical data from 2013-2023, the import value of used pneumatic tyres to Viet Nam has experienced significant fluctuations. The period saw an initial spike in 2013, followed by a sharp decrease in 2015. However, 2016 rebounded strongly with a substantial increase, which was followed again by another decrease trend, despite some intermittent upward movements in 2018 and 2021. As of 2023, the value stood at 60.31 thousand US dollars, a decrease of 4.57% from the previous year, showcasing a declining trend. The CAGR for the most recent five-year period (2019-2023) indicates a decline at an average annual rate of -4.35%.
Looking ahead, forecast data through 2028 suggests a continuation of the declining trend, with a projected five-year CAGR of -4.57% and a forecasted overall reduction of approximately 20.85% in import value. This points towards a continued decrease in the import of used pneumatic tyres to Viet Nam over the next five years.
Future Trends to Watch for:
It will be important to monitor:
- Global and regional economic conditions impacting tyre demand and supply chains.
- Regulatory changes and environmental policies in Viet Nam affecting used tyre imports.
- Technological advancements in tyre durability and recycling that could affect market dynamics.
- Shifts in automotive industry trends, including the rise of electric vehicles, which may change tyre usage patterns.
