Eastern Asia: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Eastern Asia

The East Asian vegetable tanning extracts market dropped slightly to $X in 2022, waning by -2.5% against the previous year. Over the period under review, consumption saw a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Vegetable Tanning Extracts Production in Eastern Asia

In value terms, vegetable tanning extracts production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 6% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Vegetable Tanning Extracts Exports

Exports in Eastern Asia

In 2022, approx. X tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were exported in Eastern Asia; waning by -48.9% on the year before. In general, exports showed a deep reduction. The growth pace was the most rapid in 2021 when exports increased by 46% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vegetable tanning extracts exports fell sharply to $X in 2022. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2021 when exports increased by 59%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from China (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together finishing at 97% of total export. Japan (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +0.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, China ($X), Japan ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 88% of total exports.

Japan, with a CAGR of -0.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 16% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable tanning extracts export price increased by +63.2% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 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 Japan ($X per ton), while Taiwan (Chinese) ($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 (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Tanning Extracts Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of tanning extracts of vegetable origin, tannins and their salts other derivatives, when their volume decreased by -20.7% to X tons. Over the period under review, imports recorded a pronounced contraction. The growth pace was the most rapid in 2017 with an increase of 38%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable tanning extracts imports shrank to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) represented the key importer of tanning extracts of vegetable origin, tannins and their salts other derivatives, generating 75% of total imports. Japan (X tons) ranks second in terms of the total imports with a 10% share, followed by South Korea (7.3%). The following importers - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - together made up 7.1% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vegetable tanning extracts imports into China stood at -2.7%. Japan (-2.0%), South Korea (-2.1%), Taiwan (Chinese) (-2.5%) and Hong Kong SAR (-7.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hong Kong SAR decreased by -2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tanning extracts of vegetable origin, tannins and their salts other derivatives in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by Japan ($X), with a 27% share of total imports. It was followed by South Korea, with a 12% share.

In China, vegetable tanning extracts imports decreased by an average annual rate of -1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+1.4% per year) and South Korea (+4.5% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2016 an increase of 35%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the 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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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