ASEAN: Market for Leather Further Prepared After Tanning or Crusting 2025

Market Size for Leather Further Prepared After Tanning or Crusting in ASEAN

The ASEAN market for leather further prepared after tanning or crusting skyrocketed to $X in 2021, with an increase of 23% against the previous year. Overall, consumption, however, showed a drastic downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Leather Further Prepared After Tanning or Crusting in ASEAN

In value terms, production of leather further prepared after tanning or crusting skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a deep reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 55%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Leather Further Prepared After Tanning or Crusting

Exports in ASEAN

In 2021, overseas shipments of leather further prepared after tanning or crusting increased by 0.8% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2020 when exports increased by 73% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of leather further prepared after tanning or crusting soared to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Thailand (X tons) was the main exporter of leather further prepared after tanning or crusting, making up 79% of total exports. It was distantly followed by Cambodia (X tons), mixing up a 19% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to leather further prepared after tanning or crusting exports from Thailand stood at +3.4%. At the same time, Cambodia (+93.6%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +93.6% from 2012-2021. From 2012 to 2021, the share of Cambodia and Thailand increased by +19 and +5.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) and Cambodia ($X) appeared to be the countries with the highest levels of exports in 2021.

Cambodia, with a CAGR of +88.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 151%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+9.7%).

Imports of Leather Further Prepared After Tanning or Crusting

Imports in ASEAN

In 2021, supplies from abroad of leather further prepared after tanning or crusting increased by 15% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports saw temperate growth. The pace of growth appeared the most rapid in 2016 with an increase of 72%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of leather further prepared after tanning or crusting skyrocketed to $X in 2021. Overall, imports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 81%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Vietnam was the key importing country with an import of about X tons, which reached 72% of total imports. It was distantly followed by Indonesia (X tons), Cambodia (X tons) and the Philippines (X tons), together comprising a 27% share of total imports.

Imports into Vietnam increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, the Philippines (+28.0%) and Cambodia (+3.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +28.0% from 2012-2021. By contrast, Indonesia (-3.1%) illustrated a downward trend over the same period. Vietnam (+11 p.p.) and the Philippines (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -12.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported leather further prepared after tanning or crusting in ASEAN, comprising 73% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports. It was followed by Cambodia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam totaled +7.6%. In the other countries, the average annual rates were as follows: Indonesia (-3.9% per year) and Cambodia (+5.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and Cambodia ($X per ton), while the Philippines ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform