Japan: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Japan

The Japanese synthetic organic tanning substances market reduced slightly to $X in 2021, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Japan

In 2021, synthetic organic tanning substances exports from Japan skyrocketed to X tons, jumping by 55% on the year before. In general, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 277%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, synthetic organic tanning substances exports surged to $X in 2021. Over the period under review, exports posted notable growth. The most prominent rate of growth was recorded in 2020 with an increase of 143% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Cambodia (X tons) was the main destination for synthetic organic tanning substances exports from Japan, accounting for a 92% share of total exports. It was followed by Hong Kong SAR (X tons), with a 2.8% share of total exports. Vietnam (X tons) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia amounted to +174.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+3.4% per year) and Vietnam (+13.3% per year).

In value terms, Cambodia ($X) remains the key foreign market for synthetic organic tanning substances exports from Japan, comprising 90% of total exports. The second position in the ranking was held by China ($X), with a 4.3% share of total exports. It was followed by Indonesia, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia amounted to +156.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-21.4% per year) and Indonesia (+29.6% per year).

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, dropping by -1.9% against the previous year. Overall, the export price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2013 when the average export price increased by 18%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Hong Kong SAR ($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 Malaysia (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Japan

After five years of decline, overseas purchases of synthetic organic tanning substances increased by 22% to X tons in 2021. Overall, imports, however, recorded a drastic downturn. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports surged to $X in 2021. In general, imports, however, recorded a abrupt contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of synthetic organic tanning substances imports to Japan, together comprising 72% of total imports. India, France, Spain and the Netherlands lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +0.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest synthetic organic tanning substances suppliers to Japan were Italy ($X), Germany ($X) and China ($X), together accounting for 73% of total imports. These countries were followed by France, India, Spain and the Netherlands, which together accounted for a further 25%.

Spain, with a CAGR of -1.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, growing by 1.6% against the previous year. Overall, the import price, however, saw a pronounced setback. The growth pace was the most rapid in 2018 when the average import price increased by 4%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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