Asia: Hide Repairing Machinery Market 2024

Hide Repairing Machinery Market Size in Asia

In 2022, the Asian hide repairing machinery market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Hide Repairing Machinery Production in Asia

In value terms, hide repairing machinery production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 9.1% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Hide Repairing Machinery Exports

Exports in Asia

In 2022, overseas shipments of machinery for making or repairing articles of hides, skins or leather increased by 25% to X units, rising for the fourth year in a row after two years of decline. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 63%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, hide repairing machinery exports totaled $X in 2022. Over the period under review, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 69% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X units) and China (X units) prevails in exports structure, together making up 93% of total exports. The following exporters - South Korea (X units) and Turkey (X units) - each resulted at a 3.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +25.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) remains the largest hide repairing machinery supplier in Asia, comprising 59% of total exports. The second position in the ranking was held by China ($X), with a 28% share of total exports. It was followed by South Korea, with a 3.3% share.

In Taiwan (Chinese), hide repairing machinery exports expanded at an average annual rate of +8.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+10.0% per year) and South Korea (-8.4% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, declining by -19.3% against the previous year. Overall, the export price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Hide Repairing Machinery Imports

Imports in Asia

In 2022, imports of machinery for making or repairing articles of hides, skins or leather in Asia surged to X units, with an increase of 50% on the previous year's figure. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +50.1% against 2020 indices. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, hide repairing machinery imports skyrocketed to $X in 2022. Over the period under review, imports posted a resilient increase. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia represented the major importer of machinery for making or repairing articles of hides, skins or leather in Asia, with the volume of imports amounting to X units, which was near 60% of total imports in 2022. It was distantly followed by Vietnam (X units), constituting a 23% share of total imports. India (X units), South Korea (X units), China (X units) and Cambodia (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hide repairing machinery imports into Indonesia stood at +6.3%. At the same time, South Korea (+9.6%), Vietnam (+8.5%) and China (+6.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +9.6% from 2012-2022. By contrast, Cambodia (-5.7%) and India (-5.7%) illustrated a downward trend over the same period. Indonesia (+9.8 p.p.) and Vietnam (+7.4 p.p.) significantly strengthened its position in terms of the total imports, while Cambodia and India saw its share reduced by -3% and -7.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported machinery for making or repairing articles of hides, skins or leather in Asia, comprising 55% of total imports. The second position in the ranking was held by Vietnam ($X), with a 21% share of total imports. It was followed by India, with a 9.5% share.

In Indonesia, hide repairing machinery imports expanded at an average annual rate of +12.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+10.2% per year) and India (-1.1% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, rising by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2017 when the import price increased by 27%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 India ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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