Denmark: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Denmark

In 2021, the Danish synthetic organic tanning substances market decreased by -67% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, recorded strong growth. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Production of Synthetic Organic Tanning Substances in Denmark

In value terms, synthetic organic tanning substances production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 34%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Denmark

In 2021, after two years of decline, there was significant growth in shipments abroad of synthetic organic tanning substances, when their volume increased by 106% to X tons. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 118%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, synthetic organic tanning substances exports skyrocketed to $X in 2021. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 122%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X tons), Sweden (X tons) and China (X tons) were the main destinations of synthetic organic tanning substances exports from Denmark, together comprising 93% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +51.5%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for synthetic organic tanning substances exports from Denmark, comprising 59% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports. It was followed by Faroe Islands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+42.1% per year) and Faroe Islands (-3.6% per year).

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, shrinking by -39.5% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then declined dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 (+21.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Organic Tanning Substances

Imports into Denmark

Synthetic organic tanning substances imports into Denmark reduced markedly to X tons in 2021, with a decrease of -64.6% on 2020 figures. In general, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2020 when imports increased by 285% against the previous year. As a result, imports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, synthetic organic tanning substances imports fell rapidly to $X in 2021. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 147% against the previous year. Imports peaked at $X in 2020, and then declined dramatically in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of synthetic organic tanning substances to Denmark, accounting for a 86% share of total imports. Moreover, synthetic organic tanning substances imports from Germany exceeded the figures recorded by the second-largest supplier, Finland (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +14.8%.

In value terms, Germany ($X) constituted the largest supplier of synthetic organic tanning substances to Denmark, comprising 78% of total imports. The second position in the ranking was held by Finland ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +24.7%.

Import Prices by Country

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, increasing by 47% against the previous year. In general, the import price recorded a mild expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 129%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Finland ($X per ton), while the price for Germany stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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