Singapore: Vegetable Tanning Extracts Market 2025

Vegetable Tanning Extracts Market Size in Singapore

The Singaporean vegetable tanning extracts market totaled $X in 2022, surging by 3.4% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Vegetable Tanning Extracts Production in Singapore

In value terms, vegetable tanning extracts production soared to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 146% against the previous year. Vegetable tanning extracts production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Tanning Extracts Exports

Exports from Singapore

In 2022, shipments abroad of tanning extracts of vegetable origin, tannins and their salts other derivatives increased by 17% to X tons, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a moderate expansion. The pace of growth was the most pronounced in 2017 when exports increased by 57%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, vegetable tanning extracts exports expanded notably to $X in 2022. Over the period under review, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 60% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for vegetable tanning extracts exports from Singapore, with a 59% share of total exports. Moreover, vegetable tanning extracts exports to India exceeded the volume sent to the second major destination, Pakistan (X tons), fivefold. The third position in this ranking was held by Bangladesh (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+37.7% per year) and Bangladesh (+23.4% per year).

In value terms, India ($X) emerged as the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Singapore, comprising 59% of total exports. The second position in the ranking was held by Pakistan ($X), with a 12% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+39.3% per year) and China (+34.4% per year).

Export Prices by Country

In 2022, the average vegetable tanning extracts export price amounted to $X per ton, falling by -7.8% against the previous year. Over the period under review, the export price showed a slight contraction. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Bangladesh ($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 Vietnam (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Tanning Extracts Imports

Imports into Singapore

In 2022, the amount of tanning extracts of vegetable origin, tannins and their salts other derivatives imported into Singapore fell remarkably to X tons, dropping by -74.6% compared with the previous year's figure. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 269% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable tanning extracts imports contracted remarkably to $X in 2022. Overall, imports saw a pronounced slump. The growth pace was the most rapid in 2019 with an increase of 277%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest vegetable tanning extracts supplier to Singapore, accounting for a 74% share of total imports. Moreover, vegetable tanning extracts imports from Argentina exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.0% per year) and Belgium (+70.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of tanning extracts of vegetable origin, tannins and their salts other derivatives to Singapore, comprising 51% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total imports. It was followed by Belgium, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.3% per year) and Belgium (+70.5% per year).

Import Prices by Country

In 2022, the average vegetable tanning extracts import price amounted to $X per ton, increasing by 35% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable tanning extracts import price increased by +51.6% against 2018 indices. The growth pace was the most rapid in 2013 when the average import price increased by 44% against the previous year. 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 Belgium ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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