Finland: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Finland

The Finnish synthetic organic tanning substances market soared to $X in 2021, increasing by 327% against the previous year. Overall, consumption enjoyed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Synthetic Organic Tanning Substances in Finland

In value terms, synthetic organic tanning substances production amounted to $X in 2021 estimated in export price. In general, production showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 79%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports from Finland

In 2019, shipments abroad of synthetic organic tanning substances decreased by -9% to X tons, falling for the fifth year in a row after three years of growth. Over the period under review, total exports indicated a strong increase from 2012 to 2019: its volume increased at an average annual rate of +6.5% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -26.3% against 2014 indices. The pace of growth was the most pronounced in 2013 with an increase of 68% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2019, the exports failed to regain momentum.

In value terms, synthetic organic tanning substances exports amounted to $X in 2019. Overall, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by 85% against the previous year. The exports peaked in 2019 and are expected to retain growth in years to come.

Exports by Country

Denmark (X tons), Poland (X tons) and Italy (X tons) were the main destinations of synthetic organic tanning substances exports from Finland, together accounting for 92% of total exports.

From 2012 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +53.1%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) remains the key foreign market for synthetic organic tanning substances exports from Finland, comprising 81% of total exports. The second position in the ranking was taken by Poland ($X), with a 12% share of total exports. It was followed by Italy, with a 2.9% share.

From 2012 to 2019, the average annual rate of growth in terms of value to Denmark totaled +57.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Italy (0.0% per year).

Export Prices by Country

In 2019, the average synthetic organic tanning substances export price amounted to $X per ton, picking up by 18% against the previous year. Over the period under review, the export price recorded buoyant growth. The pace of growth was the most pronounced in 2014 an increase of 47%. The export price peaked in 2019 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+68.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Organic Tanning Substances

Imports into Finland

In 2021, supplies from abroad of synthetic organic tanning substances increased by 12% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports posted a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 1,219%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. Over the period under review, imports showed prominent growth. The growth pace was the most rapid in 2018 with an increase of 850%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of synthetic organic tanning substances imports to Finland, together accounting for 99.9% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +27.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), the Netherlands ($X) and Germany ($X) were the largest synthetic organic tanning substances suppliers to Finland, together comprising 99.9% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +26.6%, saw 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

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, growing by 6.6% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic organic tanning substances import price decreased by -31.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 144% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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