ASEAN: Market for Tanned or Dressed Furskins 2025

Market Size for Tanned or Dressed Furskins in ASEAN

The ASEAN tanned or dressed furskins market surged to $X in 2022, picking up by 15% against the previous year. Overall, consumption posted a prominent expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Tanned or Dressed Furskins in ASEAN

In value terms, tanned or dressed furskins production shrank slightly to $X in 2022 estimated in export price. In general, production, however, showed a strong expansion. The growth pace was the most rapid in 2015 when the production volume increased by 58% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Tanned or Dressed Furskins

Exports in ASEAN

In 2022, approx. X units of tanned or dressed furskins were exported in ASEAN; with a decrease of -34.2% against the previous year. In general, exports, however, saw a noticeable increase. The growth pace was the most rapid in 2014 when exports increased by 151% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tanned or dressed furskins exports contracted significantly to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 173%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand represented the largest exporter of tanned or dressed furskins in ASEAN, with the volume of exports recording X units, which was approx. 75% of total exports in 2022. It was distantly followed by Malaysia (X units), comprising a 19% share of total exports. Vietnam (X units) held a little share of total exports.

Thailand was also the fastest-growing in terms of the tanned or dressed furskins exports, with a CAGR of +37.9% from 2012 to 2022. Malaysia (-5.3%) and Vietnam (-17.3%) illustrated a downward trend over the same period. While the share of Thailand (+70 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-29.3 p.p.) and Vietnam (-32.8 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest tanned or dressed furskins supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total exports.

In Thailand, tanned or dressed furskins exports increased at an average annual rate of +82.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+23.7% per year) and Vietnam (-5.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, declining by -28.4% against the previous year. In general, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted sharply in the following year.

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 Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+32.1%), while the other leaders experienced more modest paces of growth.

Imports of Tanned or Dressed Furskins

Imports in ASEAN

In 2022, the amount of tanned or dressed furskins imported in ASEAN rose notably to X units, picking up by 7.6% on the year before. Total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.5% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 74% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, tanned or dressed furskins imports expanded notably to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 103%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Vietnam represented the main importer of tanned or dressed furskins in ASEAN, with the volume of imports accounting for X units, which was near 51% of total imports in 2022. It was distantly followed by Thailand (X units), the Philippines (X units) and Cambodia (X units), together constituting a 44% share of total imports. Indonesia (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tanned or dressed furskins imports into Vietnam stood at -3.2%. At the same time, Cambodia (+61.7%), the Philippines (+26.4%), Thailand (+12.3%) and Indonesia (+5.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +61.7% from 2012-2022. From 2012 to 2022, the share of Thailand, the Philippines and Cambodia increased by +15, +13 and +5.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported tanned or dressed furskins in ASEAN, comprising 57% of total imports. The second position in the ranking was taken by the Philippines ($X), with an 18% share of total imports. It was followed by Thailand, with a 12% share.

In Vietnam, tanned or dressed furskins imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (+82.6% per year) and Thailand (+21.3% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 3.2% against the previous year. Over the period under review, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in 2016 an increase of 92% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 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 Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+44.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform