Mexico: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Mexico

In 2021, the Mexican synthetic organic tanning substances market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a abrupt decrease. Synthetic organic tanning substances consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports from Mexico

Synthetic organic tanning substances exports from Mexico expanded notably to X tons in 2021, growing by 7.3% on the previous year's figure. Overall, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 139%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic organic tanning substances exports expanded sharply to $X in 2021. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 141% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for synthetic organic tanning substances exports from Mexico, with a 73% share of total exports. Moreover, synthetic organic tanning substances exports to the United States exceeded the volume sent to the second major destination, El Salvador (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+7.2% per year) and Guatemala (-19.6% per year).

In value terms, the United States ($X) remains the key foreign market for synthetic organic tanning substances exports from Mexico, comprising 75% of total exports. The second position in the ranking was held by El Salvador ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+3.8% per year) and Guatemala (-26.4% per year).

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, rising by 5.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Brazil (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Mexico

In 2021, after two years of decline, there was significant growth in purchases abroad of synthetic organic tanning substances, when their volume increased by 8.5% to X tons. In general, imports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports expanded markedly to $X in 2021. Over the period under review, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of synthetic organic tanning substances imports to Mexico, with a combined 80% share of total imports. France, China, the Netherlands, India and the United States lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +12.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic tanning substances suppliers to Mexico were Italy ($X), Germany ($X) and China ($X), with a combined 79% share of total imports.

In terms of the main suppliers, China, with a CAGR of +14.1%, recorded 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

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 6.7%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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