Latin America and the Caribbean: Market for Leather Further Prepared After Tanning or Crusting 2025

Market Size for Leather Further Prepared After Tanning or Crusting in Latin America and the Caribbean

In 2021, the Latin American market for leather further prepared after tanning or crusting increased by 35% to $X for the first time since 2014, thus ending a six-year declining trend. Over the period under review, consumption, however, showed a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Leather Further Prepared After Tanning or Crusting in Latin America and the Caribbean

In value terms, production of leather further prepared after tanning or crusting soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt slump. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Leather Further Prepared After Tanning or Crusting

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded decline in overseas shipments of leather further prepared after tanning or crusting, which decreased by -40% to X tons in 2021. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 1.1%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of leather further prepared after tanning or crusting dropped markedly to $X in 2021. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by 6.2% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico prevails in crusting structure, amounting to X tons, which was approx. 86% of total exports in 2021. Peru (X tons) took a 6.4% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (6.4%).

Exports from Mexico decreased at an average annual rate of -17.6% from 2012 to 2021. Peru (-1.4%) and Argentina (-18.7%) illustrated a downward trend over the same period. While the share of Peru (+5.2 p.p.) and Mexico (+3.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest leather further prepared after tanning or crusting supplier in Latin America and the Caribbean, comprising 90% of total exports. The second position in the ranking was held by Argentina ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico amounted to -18.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-15.6% per year) and Peru (-2.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the export price, however, continues to indicate a mild shrinkage. The level of export peaked 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 amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.8%), while the other leaders experienced a decline in the export price figures.

Imports of Leather Further Prepared After Tanning or Crusting

Imports in Latin America and the Caribbean

In 2021, purchases abroad of leather further prepared after tanning or crusting increased by 8.5% to X tons for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, faced a significant contraction. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of leather further prepared after tanning or crusting soared to $X in 2021. Over the period under review, imports, however, faced a sharp contraction. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Dominican Republic (X tons) and Chile (X tons) represented roughly 47% of total imports in 2021. Colombia (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (12%) and Argentina (5.7%). The following importers - El Salvador (X tons), Peru (X tons), Brazil (X tons), Costa Rica (X tons), Uruguay (X tons) and Venezuela (X tons) - together made up 20% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Costa Rica (with a CAGR of +12.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest leather further prepared after tanning or crusting importing markets in Latin America and the Caribbean were the Dominican Republic ($X), Chile ($X) and Colombia ($X), together comprising 65% of total imports. Guatemala, Peru, Brazil, Argentina, El Salvador, Venezuela, Costa Rica and Uruguay lagged somewhat behind, together accounting for a further 34%.

In terms of the main importing countries, Costa Rica, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 15% against the previous year. In general, the import price, however, continues to indicate a slight descent. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Venezuela ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform