The Brazil tire market is expected to register a modest growth at a CAGR of 3.4% during the forecast period (2020-2026). Fluctuating vehicle sales will impact the growth of the Brazil tire industry. In 2012, the Brazil automotive market was the fourth largest market globally with a volume of 3.8 million vehicle sales as per the OICA. However, vehicle sales started falling and reached a low of 2.0 vehicle sales in 2016. After 2016, a positive trend was witnessed in the country, and in 2019 vehicle sales reached around 2.8 million. The country was among the few major automotive market to witness positive growth in vehicle sales all across the globe.
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Before the COVID-19 pandemic, the country was witnessing flat automate sales. However, after the COVID-19 pandemic, a steep downfall in the vehicle as well as tire sales has been witnessed in the country. By October 2020, the country has the highest number of COVID-19 cases after the US and India. However, the country witnesses a new opportunity for the tire players due to its export opportunities. Suppliers from the country’s neighbor Argentina is shifting to Brazil. It is due to the high inflation and interest rate in Argentina. Till July 2020, three companies’ major global companies have been shifted a large part of their operations to Brazil from Argentina. These companies include BASF, Axalta, and Saint-Gobain. New manufacturing unit from the automakers are expected to provide a considerable growth to the market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Brazil Tire Market Report Segment
By Vehicle Type
- Passenger Cars
- Light & Medium Commercial Vehicle
- Heavy Commercial Vehicle
- Two-Wheeler
- Other (Construction, Agricultural, Customized Sports)
By Road Application
- All-Season Tire
- Summer Tire
- Winter Tire
- Other
By Construction
- Radial Tire
- Bias Ply Tire
By Tire Type
- Tubeless Tire
- Tubbed Tire
By Sales Channel
- OEM
- Aftermarket
The Report Covers
- Comprehensive research methodology of the Brazil Tire market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Brazil Tire industry.
- Insights about market determinants which are stimulating the Brazil Tire market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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