ASEAN: Footwear Treatments Market 2024

Footwear Treatments Market Size in ASEAN

The ASEAN footwear treatments market reduced to $X in 2022, waning by -2.2% against the previous year. In general, consumption saw a pronounced contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Footwear Treatments Production in ASEAN

In value terms, footwear treatments production declined to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced downturn. The pace of growth appeared the most rapid in 2015 with an increase of 15% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Footwear Treatments Exports

Exports in ASEAN

In 2022, overseas shipments of polishes and creams for footwear or leather were finally on the rise to reach X tons after four years of decline. Overall, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 48% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, footwear treatments exports expanded sharply to $X in 2022. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia was the largest exporter of polishes and creams for footwear or leather in ASEAN, with the volume of exports recording X tons, which was approx. 69% of total exports in 2022. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons) and Singapore (X tons). All these countries together held approx. 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to footwear treatments exports from Indonesia stood at -7.9%. Thailand (-2.4%), Malaysia (-6.8%) and Singapore (-21.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Thailand and Malaysia increased by +7.9, +5.2 and +3.2 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest footwear treatments supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by Thailand, with a 14% share.

In Indonesia, footwear treatments exports contracted by an average annual rate of -10.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.9% per year) and Thailand (-3.1% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, declining by -2.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Footwear Treatments Imports

Imports in ASEAN

Footwear treatments imports amounted to X tons in 2022, surging by 5.9% compared with the previous year's figure. In general, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, footwear treatments imports rose remarkably to $X in 2022. Overall, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) represented the key importer of polishes and creams for footwear or leather, generating 47% of total imports. Thailand (X tons) held the second position in the ranking, distantly followed by the Philippines (X tons), Malaysia (X tons), Singapore (X tons) and Cambodia (X tons). All these countries together took approx. 49% share of total imports. Myanmar (X tons) held a minor share of total imports.

Vietnam was also the fastest-growing in terms of the polishes and creams for footwear or leather imports, with a CAGR of +7.6% from 2012 to 2022. At the same time, Cambodia (+7.0%) and Myanmar (+5.4%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Thailand (-2.7%), Singapore (-3.2%) and Malaysia (-24.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Thailand, Cambodia, the Philippines, Singapore and Myanmar increased by +36, +7, +4.7, +3.9, +2.1 and +1.8 percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together accounting for 77% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +7.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2019 when the import price increased by 23%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform