Latin America and the Caribbean: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Latin America and the Caribbean

In 2021, the Latin American synthetic organic tanning substances market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances in Latin America and the Caribbean

In value terms, synthetic organic tanning substances production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 105%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports in Latin America and the Caribbean

In 2021, overseas shipments of synthetic organic tanning substances were finally on the rise to reach X tons after six years of decline. In general, exports, however, recorded a perceptible setback. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances exports skyrocketed to $X in 2021. Overall, exports, however, showed a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil dominates exports structure, resulting at X tons, which was near 74% of total exports in 2021. Argentina (X tons) held the second position in the ranking, followed by Peru (X tons) and Uruguay (X tons). All these countries together held approx. 22% share of total exports. Mexico (X tons) held a relatively small share of total exports.

Brazil was also the fastest-growing in terms of the synthetic organic tanning substances exports, with a CAGR of +3.9% from 2012 to 2021. Peru (-9.1%), Uruguay (-11.7%), Mexico (-16.4%) and Argentina (-18.3%) illustrated a downward trend over the same period. Brazil (+40 p.p.) significantly strengthened its position in terms of the total exports, while Peru, Mexico, Uruguay and Argentina saw its share reduced by -4%, -4.9%, -6% and -23.3% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest synthetic organic tanning substances supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was held by Argentina ($X), with an 11% share of total exports. It was followed by Peru, with a 10% share.

In Brazil, synthetic organic tanning substances exports expanded at an average annual rate of +2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (-16.7% per year) and Peru (-10.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -2.3% against the previous year. Over the period under review, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of 3.4%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Argentina ($X per ton), while Brazil ($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 (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports in Latin America and the Caribbean

After two years of decline, overseas purchases of synthetic organic tanning substances increased by 35% to X tons in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) was the major importer of synthetic organic tanning substances, creating 46% of total imports. Argentina (X tons) held the second position in the ranking, distantly followed by Mexico (X tons). All these countries together held approx. 36% share of total imports. Colombia (X tons), Paraguay (X tons), Peru (X tons) and Uruguay (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +8.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic tanning substances importing markets in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Mexico ($X), with a combined 80% share of total imports. Colombia, Paraguay, Peru and Uruguay lagged somewhat behind, together accounting for a further 12%.

Paraguay, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 8.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Paraguay ($X per ton) and Peru ($X per ton), while Argentina ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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