Eastern Asia: Leather Market 2022

Leather Market Size in Eastern Asia

In 2021, the East Asian leather market was finally on the rise to reach $X after six years of decline. Overall, consumption, however, continues to indicate a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Leather Production in Eastern Asia

In value terms, leather production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 38% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Leather Exports

Exports in Eastern Asia

After two years of decline, overseas shipments of leather increased by 13% to X tons in 2021. Over the period under review, exports, however, recorded a abrupt contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, leather exports expanded significantly to $X in 2021. Overall, exports, however, continue to indicate a deep setback. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) was the largest exporter of leather, making up 41% of total exports. Taiwan (Chinese) (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (19%) and Hong Kong SAR (17%). Japan (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +9.8%), while the other leaders experienced a decline in the exports figures.

In value terms, China ($X), Hong Kong SAR ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, with a combined 86% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +9.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 1.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 16% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.1%), while the other leaders experienced a decline in the export price figures.

Leather Imports

Imports in Eastern Asia

In 2021, after three years of decline, there was significant growth in purchases abroad of leather, when their volume increased by 34% to X tons. Overall, imports, however, saw a noticeable decline. The pace of growth was the most pronounced in 2017 with an increase of 55% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, leather imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a deep downturn. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China dominates imports structure, finishing at X tons, which was approx. 87% of total imports in 2021. Hong Kong SAR (X tons) held a 5.4% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (4.7%). South Korea (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of leather. Taiwan (Chinese) (-4.1%), South Korea (-10.5%) and Hong Kong SAR (-15.5%) illustrated a downward trend over the same period. China (+16 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Hong Kong SAR saw its share reduced by -2% and -13% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported leather in Eastern Asia, comprising 68% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 21% share of total imports. It was followed by South Korea, with a 6.3% share.

In China, leather imports shrank by an average annual rate of -5.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (-14.8% per year) and South Korea (-8.2% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, which is down by -4.1% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2016 an increase of 36%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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