Asia-Pacific: Footwear Treatments Market 2024

Footwear Treatments Market Size in Asia-Pacific

The Asia-Pacific footwear treatments market contracted to $X in 2022, with a decrease of -7.6% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Footwear Treatments Production in Asia-Pacific

In value terms, footwear treatments production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a slight slump. The growth pace was the most rapid in 2016 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Footwear Treatments Exports

Exports in Asia-Pacific

In 2022, overseas shipments of polishes and creams for footwear or leather were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a perceptible decrease. The growth pace was the most rapid in 2017 with an increase of 29%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, footwear treatments exports soared to $X in 2022. Over the period under review, exports, however, recorded a noticeable contraction. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 84% of total exports in 2022. Hong Kong SAR (X tons), Indonesia (X tons), India (X tons) and South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the polishes and creams for footwear or leather exports, with a CAGR of -1.9% from 2012 to 2022. Hong Kong SAR (-1.9%), Indonesia (-7.9%), South Korea (-8.6%) and India (-10.6%) illustrated a downward trend over the same period. While the share of China (+9.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-2.5 p.p.) and India (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest footwear treatments supplier in Asia-Pacific, comprising 74% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 5.6% share of total exports. It was followed by Indonesia, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-0.2% per year) and Indonesia (-10.3% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 4.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the other leaders experienced more modest paces of growth.

Footwear Treatments Imports

Imports in Asia-Pacific

In 2022, the amount of polishes and creams for footwear or leather imported in Asia-Pacific reduced to X tons, shrinking by -4.8% compared with the previous year's figure. In general, imports showed a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, footwear treatments imports reduced to $X in 2022. Over the period under review, imports saw a mild descent. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the nine major importers of polishes and creams for footwear or leather, namely China, Vietnam, Hong Kong SAR, India, Pakistan, Australia, Japan, Afghanistan and Thailand, represented more than two-thirds of total import. Nepal (X tons), Bangladesh (X tons), South Korea (X tons) and New Zealand (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Pakistan (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear treatments importing markets in Asia-Pacific were China ($X), Japan ($X) and India ($X), together comprising 39% of total imports. Australia, Vietnam, Hong Kong SAR, Thailand, South Korea, Pakistan, New Zealand, Bangladesh, Afghanistan and Nepal lagged somewhat behind, together comprising a further 48%.

Among the main importing countries, Afghanistan, with a CAGR of +8.9%, saw 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 Asia-Pacific stood at $X per ton in 2022, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2016 an increase of 7.7%. Over the period under review, import prices attained the peak figure at $X per ton 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 Japan ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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