China: Footwear Treatments Market 2024

Footwear Treatments Market Size in China

The Chinese footwear treatments market declined to $X in 2022, which is down by -14.4% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Footwear treatments consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Footwear Treatments Production in China

In value terms, footwear treatments production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Footwear Treatments Exports

Exports from China

In 2022, after two years of decline, there was significant growth in overseas shipments of polishes and creams for footwear or leather, when their volume increased by 28% to X tons. In general, exports, however, saw a mild reduction. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, the exports reached the peak figure 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 relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons), Ghana (X tons) and Vietnam (X tons) were the main destinations of footwear treatments exports from China, with a combined 21% share of total exports. The United Arab Emirates, Pakistan, Tanzania, the United States, Uzbekistan, Mozambique, South Africa, Myanmar, Kyrgyzstan and Angola lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +39.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for footwear treatments exported from China were Nigeria ($X), the United States ($X) and Vietnam ($X), with a combined 20% share of total exports. The United Arab Emirates, Ghana, Tanzania, Uzbekistan, Pakistan, Myanmar, Kyrgyzstan, South Africa, Mozambique and Angola lagged somewhat behind, together accounting for a further 35%.

Myanmar, with a CAGR of +32.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average footwear treatments export price stood at $X per ton in 2022, rising by 4.2% against 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 2013 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Treatments Imports

Imports into China

In 2022, supplies from abroad of polishes and creams for footwear or leather decreased by -43.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, footwear treatments imports shrank notably to $X in 2022. Overall, imports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 44% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of footwear treatments imports to China, together comprising 50% of total imports. Japan, the United States, Spain, the Netherlands, the UK, Singapore, Brazil and India lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +10.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest footwear treatments suppliers to China were Italy ($X), South Korea ($X) and Japan ($X), with a combined 41% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +8.7%, recorded the highest growth rate of 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 average footwear treatments import price stood at $X per ton in 2022, growing by 24% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($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 United States (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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