India: Composition Leather Market 2024

Composition Leather Market Size in India

For the fourth year in a row, the Indian composition leather market recorded growth in sales value, which increased by 0.1% to $X in 2021. In general, consumption, however, posted a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Composition Leather Production in India

In value terms, composition leather production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Composition Leather Exports

Exports from India

In 2021, shipments abroad of composition leather decreased by -0.8% to X square meters, falling for the second year in a row after two years of growth. In general, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 278%. As a result, the exports reached the peak of X square meters. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, composition leather exports soared to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X square meters), Bangladesh (X square meters) and Myanmar (X square meters) were the main destinations of composition leather exports from India, together comprising 72% of total exports. These countries were followed by Tanzania, the United States, the United Arab Emirates and Bhutan, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bhutan (with a CAGR of +848.7%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Myanmar ($X) and the United States ($X) constituted the largest markets for composition leather exported from India worldwide, with a combined 84% share of total exports. These countries were followed by Bangladesh, Bhutan, Tanzania and the United Arab Emirates, which together accounted for a further 13%.

Among the main countries of destination, Bhutan, with a CAGR of +843.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, growing by 148% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The export price peaked at $X per square meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+28.3%), while the prices for the other major destinations experienced mixed trend patterns.

Composition Leather Imports

Imports into India

In 2021, the amount of composition leather imported into India skyrocketed to X square meters, increasing by 22% compared with the previous year. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 99% against the previous year. Imports peaked at X square meters in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, composition leather imports surged to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 68%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X square meters), Germany (X square meters) and Italy (X square meters) were the main suppliers of composition leather imports to India, together comprising 90% of total imports. Turkey and Portugal lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +262.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composition leather suppliers to India were Germany ($X), Italy ($X) and China ($X), together accounting for 70% of total imports. These countries were followed by Portugal and Turkey, which together accounted for a further 8.7%.

In terms of the main suppliers, Portugal, with a CAGR of +207.4%, recorded 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

The average composition leather import price stood at $X per square meter in 2021, rising by 13% against the previous year. Overall, the import price, however, recorded a abrupt decline. Over the period under review, average import prices reached the peak figure at $X per square meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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