In 2023, the import of used pneumatic tyres to Nigeria stood at 28.53 thousand kilograms. The forecasted data for 2024 to 2028 shows a consistent decline. From 2024 to 2025, the volume decreases by 4.46%, followed by a 4.65% reduction in 2026. The trend continues with a 4.72% decrease in 2027 and a 4.90% decrease in 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is -4.93%, indicating a steady annual reduction in imports.
Future trends to watch for:
- Economic factors influencing demand for used tyres.
- Changes in regulatory policies regarding used tyre imports.
- Emerging sustainability and recycling initiatives in the automotive sector.
