Ireland: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Ireland

In 2021, the Irish synthetic organic tanning substances market increased by 5.5% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, recorded a perceptible decrease. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Synthetic Organic Tanning Substances in Ireland

In value terms, synthetic organic tanning substances production shrank rapidly to $X in 2021 estimated in export price. In general, production, however, showed a drastic downturn. Over the period under review, production attained the maximum level at $X in 2020, and then fell markedly in the following year.

Exports of Synthetic Organic Tanning Substances

Exports from Ireland

In 2021, overseas shipments of synthetic organic tanning substances increased by 217% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,672% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic organic tanning substances exports soared to $X in 2021. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 1,721%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons) was the main destination for synthetic organic tanning substances exports from Ireland, accounting for a 72% share of total exports. Moreover, synthetic organic tanning substances exports to the UK exceeded the volume sent to the second major destination, Canada (X tons), sixfold. Australia (X tons) ranked third in terms of total exports with an 8.4% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to the UK stood at +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-37.6% per year) and Australia (-23.5% per year).

In value terms, the UK ($X) emerged as the key foreign market for synthetic organic tanning substances exports from Ireland, comprising 72% of total exports. The second position in the ranking was taken by Canada ($X), with a 13% share of total exports. It was followed by Australia, with an 8.4% share.

From 2013 to 2021, the average annual rate of growth in terms of value to the UK totaled +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-34.1% per year) and Australia (-23.8% per year).

Export Prices by Country

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, with an increase of 2.5% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when the average export price increased by 2.8% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, the countries with the highest prices were Canada ($X per ton) and Australia ($X per ton), while the average price for exports to Kuwait ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.6%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Organic Tanning Substances

Imports into Ireland

In 2021, overseas purchases of synthetic organic tanning substances were finally on the rise to reach X tons after two years of decline. In general, imports posted a remarkable increase. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. Overall, imports posted a strong increase. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) was the main synthetic organic tanning substances supplier to Ireland, accounting for a 97% share of total imports. It was followed by the United States (X kg), with a 2.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.3% per year) and Italy (-48.4% per year).

In value terms, the UK ($X) constituted the largest supplier of synthetic organic tanning substances to Ireland, comprising 99% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.1% per year) and Italy (-46.0% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, with a decrease of -10.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 89% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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