Portugal: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Portugal

The Portuguese synthetic organic tanning substances market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded a remarkable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports from Portugal

In 2021, after two years of decline, there was significant growth in shipments abroad of synthetic organic tanning substances, when their volume increased by 22% to X tons. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 2,022% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances exports surged to $X in 2021. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 2,611% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for synthetic organic tanning substances exports from Portugal, accounting for a 67% share of total exports. Moreover, synthetic organic tanning substances exports to Spain exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was held by Ecuador (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +110.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+74.8% per year) and Ecuador (+28.4% per year).

In value terms, Spain ($X) emerged as the key foreign market for synthetic organic tanning substances exports from Portugal, comprising 67% of total exports. The second position in the ranking was taken by India ($X), with a 21% share of total exports. It was followed by Ecuador, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +83.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+67.3% per year) and Ecuador (+28.6% per year).

Export Prices by Country

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, declining by -5.5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 30% against the previous year. The export price peaked at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Colombia ($X per ton), while the average price for exports to China ($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 Colombia (+45.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Portugal

In 2021, after two years of decline, there was significant growth in supplies from abroad of synthetic organic tanning substances, when their volume increased by 51% to X tons. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.4% against 2018 indices. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances imports surged to $X in 2021. Over the period under review, imports showed a remarkable increase. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest synthetic organic tanning substances supplier to Portugal, with a 50% share of total imports. Moreover, synthetic organic tanning substances imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.9% per year) and the Netherlands (+5.7% per year).

In value terms, Italy ($X) constituted the largest supplier of synthetic organic tanning substances to Portugal, comprising 50% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.1% per year) and the Netherlands (+5.2% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, growing by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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