Myanmar: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Myanmar

In 2022, after four years of decline, there was significant growth in the Myanmar's vegetable tanning extracts market, when its value increased by 15% to $X. Over the period under review, consumption, however, showed a abrupt decrease. Vegetable tanning extracts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Tanning Extracts Production in Myanmar

In value terms, vegetable tanning extracts production declined slightly to $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Vegetable Tanning Extracts Exports

Exports from Myanmar

In 2022, the amount of tanning extracts of vegetable origin, tannins and their salts other derivatives exported from Myanmar reduced notably to X tons, which is down by -51.6% against the year before. In general, exports saw a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 58% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, vegetable tanning extracts exports dropped notably to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 177% against the previous year. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Pakistan (X tons) was the main destination for vegetable tanning extracts exports from Myanmar, with a 69% share of total exports. Moreover, vegetable tanning extracts exports to Pakistan exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Pakistan stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-12.4% per year) and Thailand (-84.2% per year).

In value terms, Pakistan ($X) remains the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Myanmar, comprising 93% of total exports. The second position in the ranking was taken by India ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Pakistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-10.5% per year) and Thailand (-84.2% per year).

Export Prices by Country

In 2022, the average vegetable tanning extracts export price amounted to $X per ton, growing by 13% against the previous year. Overall, the export price saw a resilient increase. The growth pace was the most rapid in 2016 an increase of 102%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to India ($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 the Philippines (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Tanning Extracts Imports

Imports into Myanmar

In 2022, approx. X tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were imported into Myanmar; increasing by 245% compared with 2021 figures. Overall, imports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2020 when imports increased by 244,344%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vegetable tanning extracts imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 286,264% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest vegetable tanning extracts supplier to Myanmar, accounting for a 58% share of total imports. Moreover, vegetable tanning extracts imports from South Africa exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa totaled +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.1% per year) and Thailand (-20.6% per year).

In value terms, South Africa ($X) constituted the largest supplier of tanning extracts of vegetable origin, tannins and their salts other derivatives to Myanmar, comprising 73% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by Thailand, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Africa stood at +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.9% per year) and Thailand (-29.9% per year).

Import Prices by Country

In 2022, the average vegetable tanning extracts import price amounted to $X per ton, declining by -22.2% against the previous year. Over the period under review, the import price recorded a abrupt decline. The growth pace was the most rapid in 2013 an increase of 96%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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