Argentina: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Argentina

After two years of decline, the Argentinian synthetic organic tanning substances market increased by 63% to $X in 2021. Overall, consumption showed significant growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Argentina

In 2021, shipments abroad of synthetic organic tanning substances was finally on the rise to reach X tons after three years of decline. In general, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2013 when exports increased by 37% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances exports totaled $X in 2021. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for synthetic organic tanning substances exports from Argentina, accounting for a 65% share of total exports. Moreover, synthetic organic tanning substances exports to Paraguay exceeded the volume sent to the second major destination, Uruguay (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Paraguay amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-14.9% per year) and Brazil (-33.8% per year).

In value terms, Paraguay ($X) remains the key foreign market for synthetic organic tanning substances exports from Argentina, comprising 67% of total exports. The second position in the ranking was held by Uruguay ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Paraguay amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-13.9% per year) and Brazil (-32.6% per year).

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, standing approx. at the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2016 an increase of 16% against the previous year. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Argentina

After two years of decline, purchases abroad of synthetic organic tanning substances increased by 43% to X tons in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 61% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X tons), France (X tons) and Italy (X tons) were the main suppliers of synthetic organic tanning substances imports to Argentina, together comprising 71% of total imports. Brazil, Germany, India and the Netherlands lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +24.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of synthetic organic tanning substances to Argentina, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.1% per year) and France (+22.1% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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