Saudi Arabia: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Saudi Arabia

In 2021, the Saudi 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. In general, consumption showed a abrupt setback. Synthetic organic tanning substances consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Synthetic Organic Tanning Substances in Saudi Arabia

In value terms, synthetic organic tanning substances production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 47% against the previous year. Synthetic organic tanning substances production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Saudi Arabia

In 2021, overseas shipments of synthetic organic tanning substances were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt downturn. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, synthetic organic tanning substances exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of 145%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons), Bangladesh (X tons) and the United Arab Emirates (X tons) were the main destinations of synthetic organic tanning substances exports from Saudi Arabia, together comprising 86% of total exports. India, Turkey and Kuwait lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +44.8%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) remains the key foreign market for synthetic organic tanning substances exports from Saudi Arabia, comprising 48% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Bangladesh stood at +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+20.3% per year) and India (+46.3% per year).

Export Prices by Country

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, falling by -1.6% against the previous year. Over the period under review, the export price, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 an increase of 102%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Bahrain ($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 Qatar (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Saudi Arabia

Synthetic organic tanning substances imports into Saudi Arabia expanded markedly to X tons in 2014, picking up by 6.4% against the previous year. Overall, imports, however, saw a deep slump. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2014, imports failed to regain momentum.

In value terms, synthetic organic tanning substances imports contracted markedly to $X in 2014. Over the period under review, imports, however, faced a dramatic downturn. The smallest decline of -23.3% was in 2013. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2014, imports stood at a somewhat lower figure.

Imports by Country

In 2014, France (X tons) constituted the largest synthetic organic tanning substances supplier to Saudi Arabia, with a 29% share of total imports. Moreover, synthetic organic tanning substances imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold.

From 2012 to 2014, the average annual growth rate of volume from France totaled -13.1%.

In value terms, France ($X) and Germany ($X) constituted the largest synthetic organic tanning substances suppliers to Saudi Arabia.

Among the main suppliers, France, with a CAGR of -9.4%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2014, with a decrease of -51.2% against the previous year. In general, the import price continues to indicate a dramatic decrease. The pace of growth was the most pronounced in 2013 when the average import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced notably in the following year.

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

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by Turkey (+6.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :