China: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in China

In 2021, the Chinese synthetic organic tanning substances market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a perceptible descent. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from China

In 2021, the amount of synthetic organic tanning substances exported from China soared to X tons, rising by 36% against 2020. Over the period under review, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 38% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, synthetic organic tanning substances exports soared to $X in 2021. Overall, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Pakistan (X tons), Vietnam (X tons) and Thailand (X tons) were the main destinations of synthetic organic tanning substances exports from China, together comprising 36% of total exports. South Korea, India, Congo, Singapore, Mexico, Brazil, Germany, Taiwan (Chinese), Indonesia and Hong Kong SAR lagged somewhat behind, together accounting for a further 52%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +209.8%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Pakistan ($X) appeared to be the largest markets for synthetic organic tanning substances exported from China worldwide, with a combined 36% share of total exports. South Korea, Mexico, India, Brazil, Singapore, Germany, Taiwan (Chinese), Indonesia, Hong Kong SAR and Congo lagged somewhat behind, together comprising a further 48%.

Germany, with a CAGR of +223.9%, saw 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

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, reducing by -10.2% against the previous year. Over the period under review, the export price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2013 an increase of 7.4% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into China

In 2021, purchases abroad of synthetic organic tanning substances increased by 13% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a mild curtailment. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports surged to $X in 2021. In general, imports, however, recorded a slight slump. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), India (X tons) and Spain (X tons) were the main suppliers of synthetic organic tanning substances imports to China, with a combined 60% share of total imports. These countries were followed by Germany, France, Indonesia, the Netherlands, Taiwan (Chinese), Brazil, Turkey, Australia, South Korea and the United States, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), India ($X) and Germany ($X) constituted the largest synthetic organic tanning substances suppliers to China, together accounting for 60% of total imports. These countries were followed by Spain, the Netherlands, Indonesia, France, Taiwan (Chinese), Brazil, Australia, Turkey, South Korea and the United States, which together accounted for a further 37%.

Indonesia, with a CAGR of +11.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, increasing by 3.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 6% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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