Slovakia: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Slovakia

The Slovak vegetable tanning extracts market rose rapidly to $X in 2022, increasing by 8.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a significant increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Tanning Extracts Exports

Exports from Slovakia

In 2022, approx. X kg of tanning extracts of vegetable origin, tannins and their salts other derivatives were exported from Slovakia; waning by -99.6% compared with 2021. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 8,863% against the previous year. As a result, the exports reached the peak of X tons, and then plummeted in the following year.

In value terms, vegetable tanning extracts exports dropped markedly to $X in 2022. In general, exports showed a perceptible reduction. The growth pace was the most rapid in 2018 with an increase of 3,154% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Estonia (X kg) was the main destination for vegetable tanning extracts exports from Slovakia, with a 76% share of total exports. Moreover, vegetable tanning extracts exports to Estonia exceeded the volume sent to the second major destination, Germany (X kg), sixfold. Switzerland (X kg) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia stood at +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-65.7% per year) and Switzerland (+12.2% per year).

In value terms, Switzerland ($X), France ($X) and Estonia ($X) appeared to be the largest markets for vegetable tanning extracts exported from Slovakia worldwide, with a combined 96% share of total exports.

Among the main countries of destination, Estonia, with a CAGR of +24.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average vegetable tanning extracts export price stood at $X per ton in 2022, picking up by 151% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 159% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Germany ($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 France (+2,264.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Tanning Extracts Imports

Imports into Slovakia

In 2022, purchases abroad of tanning extracts of vegetable origin, tannins and their salts other derivatives decreased by -8.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 1,246% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable tanning extracts imports fell to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2019 when imports increased by 158% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of vegetable tanning extracts to Slovakia, accounting for a 58% share of total imports. Moreover, vegetable tanning extracts imports from Germany exceeded the figures recorded by the second-largest supplier, Peru (X tons), threefold. The third position in this ranking was held by Poland (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+38.0% per year) and Poland (+100.0% per year).

In value terms, Germany ($X) constituted the largest supplier of tanning extracts of vegetable origin, tannins and their salts other derivatives to Slovakia, comprising 49% of total imports. The second position in the ranking was taken by Poland ($X), with a 13% share of total imports. It was followed by Peru, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+157.8% per year) and Peru (+39.4% per year).

Import Prices by Country

The average vegetable tanning extracts import price stood at $X per ton in 2022, which is down by -1.6% against the previous year. Over the period under review, the import price saw a perceptible contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 218%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Netherlands ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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