Slovakia: Composition Leather Market 2024

Composition Leather Market Size in Slovakia

For the fifth consecutive year, the Slovak composition leather market recorded decline in sales value, which decreased by -8.7% to $X in 2021. Overall, consumption recorded a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Composition Leather Production in Slovakia

In value terms, composition leather production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 222% against the previous year. Composition leather production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Composition Leather Exports

Exports from Slovakia

In 2021, shipments abroad of composition leather was finally on the rise to reach X square meters after two years of decline. In general, exports, however, recorded a sharp decrease. The growth pace was the most rapid in 2018 with an increase of 6,485%. Over the period under review, the exports attained the maximum at X square meters in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, composition leather exports surged to $X in 2021. Overall, exports, however, recorded a precipitous descent. The growth pace was the most rapid in 2018 when exports increased by 3,964%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X square meters) was the main destination for composition leather exports from Slovakia, with a 88% share of total exports. Moreover, composition leather exports to Germany exceeded the volume sent to the second major destination, Hungary (X square meters), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +16.4%.

In value terms, Germany ($X) emerged as the key foreign market for composition leather exports from Slovakia, comprising 68% of total exports. The second position in the ranking was taken by Hungary ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +18.0%.

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, declining by -21.2% against the previous year. Over the period under review, the export price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 77% against the previous year. As a result, the export price attained the peak level of $X per square meter, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per square meter), while the average price for exports to Germany stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+97.7%), while the prices for the other major destinations experienced more modest paces of growth.

Composition Leather Imports

Imports into Slovakia

In 2021, after two years of decline, there was significant growth in overseas purchases of composition leather, when their volume increased by 5.8% to X square meters. In general, imports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by 346%. Imports peaked at X square meters in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, composition leather imports reduced to $X in 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 708%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X square meters) constituted the largest composition leather supplier to Slovakia, accounting for a 78% share of total imports. Moreover, composition leather imports from Germany exceeded the figures recorded by the second-largest supplier, Portugal (X square meters), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+72.8% per year) and Italy (-40.6% per year).

In value terms, Germany ($X), Portugal ($X) and Italy ($X) were the largest composition leather suppliers to Slovakia, with a combined 99% share of total imports.

Among the main suppliers, Portugal, with a CAGR of +74.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average composition leather import price amounted to $X per square meter, which is down by -19.5% against the previous year. Overall, the import price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2018 an increase of 81% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per square meter), while the price for Germany ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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