Italy: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Italy

The Italian synthetic organic tanning substances market contracted remarkably to $X in 2021, declining by -38% against the previous year. Over the period under review, consumption continues to indicate a perceptible reduction. Synthetic organic tanning substances consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Synthetic Organic Tanning Substances in Italy

In value terms, synthetic organic tanning substances production rose significantly to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 32%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Italy

After three years of decline, shipments abroad of synthetic organic tanning substances increased by 21% to X tons in 2021. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, synthetic organic tanning substances exports surged to $X in 2021. In general, exports, however, saw a slight slump. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for synthetic organic tanning substances exports from Italy, with a 21% share of total exports. Moreover, synthetic organic tanning substances exports to China exceeded the volume sent to the second major destination, Turkey (X tons), threefold. The third position in this ranking was taken by Bangladesh (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-1.3% per year) and Bangladesh (+0.5% per year).

In value terms, China ($X) remains the key foreign market for synthetic organic tanning substances exports from Italy, comprising 19% of total exports. The second position in the ranking was held by Turkey ($X), with a 7.2% share of total exports. It was followed by Bangladesh, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-1.9% per year) and Bangladesh (+1.8% per year).

Export Prices by Country

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, surging by 4.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 6.5% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Italy

In 2021, approx. X tons of synthetic organic tanning substances were imported into Italy; which is down by -11.1% on the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 12% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports reduced modestly to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main suppliers of synthetic organic tanning substances imports to Italy, together comprising 77% of total imports. These countries were followed by the Netherlands, Turkey, China and India, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +34.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of synthetic organic tanning substances to Italy, comprising 41% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by France, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.6% per year) and France (-1.6% per year).

Import Prices by Country

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, surging by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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