Lithuania: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Lithuania

The Lithuanian vegetable tanning extracts market declined modestly to $X in 2022, falling by -2.1% against the previous year. In general, consumption saw a deep slump. Vegetable tanning extracts consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Vegetable Tanning Extracts Production in Lithuania

In value terms, vegetable tanning extracts production shrank modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 35%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Vegetable Tanning Extracts Exports

Exports from Lithuania

In 2022, shipments abroad of tanning extracts of vegetable origin, tannins and their salts other derivatives decreased by -1.2% to X tons, falling for the third consecutive year after three years of growth. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 813% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable tanning extracts exports soared to $X in 2022. Overall, exports, however, posted significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 293% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons), Georgia (X tons) and Belarus (X tons) were the main destinations of vegetable tanning extracts exports from Lithuania, together comprising 93% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +163.2%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Lithuania, comprising 80% of total exports. The second position in the ranking was taken by Belarus ($X), with an 8.1% share of total exports. It was followed by Georgia, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +51.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+30.0% per year) and Georgia (+153.1% per year).

Export Prices by Country

In 2022, the average vegetable tanning extracts export price amounted to $X per ton, surging by 73% against the previous year. In general, the export price continues to indicate a mild increase. The growth pace was the most rapid in 2016 an increase of 102%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Tanning Extracts Imports

Imports into Lithuania

In 2022, overseas purchases of tanning extracts of vegetable origin, tannins and their salts other derivatives were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 267%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable tanning extracts imports surged to $X in 2022. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 287% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Argentina (X tons), Germany (X tons) and France (X tons) were the main suppliers of vegetable tanning extracts imports to Lithuania, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable tanning extracts suppliers to Lithuania were France ($X), Germany ($X) and Argentina ($X), with a combined 94% share of total imports. Spain, Italy and Poland lagged somewhat behind, together comprising a further 5.7%.

In terms of the main suppliers, Italy, with a CAGR of +22.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable tanning extracts import price stood at $X per ton in 2022, picking up by 68% against the previous year. In general, the import price saw a prominent expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 203% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform