South-Eastern Asia: Footwear Treatments Market 2024

Footwear Treatments Market Size in South-Eastern Asia

The Southeast Asian footwear treatments market shrank to $X in 2022, waning by -2.2% against the previous year. In general, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Footwear Treatments Production in South-Eastern Asia

In value terms, footwear treatments production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2015 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Footwear Treatments Exports

Exports in South-Eastern Asia

In 2022, after four years of decline, there was significant growth in overseas shipments of polishes and creams for footwear or leather, when their volume increased by 14% to X tons. In general, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 48%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, footwear treatments exports rose sharply to $X in 2022. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia represented the largest exporter of polishes and creams for footwear or leather in South-Eastern Asia, with the volume of exports resulting at X tons, which was near 69% of total exports in 2022. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons) and Singapore (X tons). All these countries together took approx. 30% share of total exports.

Exports from Indonesia decreased at an average annual rate of -7.9% from 2012 to 2022. Thailand (-2.4%), Malaysia (-6.8%) and Singapore (-21.2%) illustrated a downward trend over the same period. Indonesia (+7.9 p.p.), Thailand (+5.2 p.p.) and Malaysia (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -16.2% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest footwear treatments supplier in South-Eastern Asia, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to -10.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.9% per year) and Thailand (-3.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, dropping by -2.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 12% against the previous year. The level of export 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 origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Footwear Treatments Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of polishes and creams for footwear or leather were imported in South-Eastern Asia; increasing by 5.9% compared with the previous year. Over the period under review, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, footwear treatments imports reached $X in 2022. Overall, imports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam represented the key importing country with an import of about X tons, which reached 47% of total imports. Thailand (X tons) held the second position in the ranking, distantly followed by the Philippines (X tons), Malaysia (X tons), Singapore (X tons) and Cambodia (X tons). All these countries together held near 49% share of total imports. Myanmar (X tons) held a little share of total imports.

Vietnam was also the fastest-growing in terms of the polishes and creams for footwear or leather imports, with a CAGR of +7.6% from 2012 to 2022. At the same time, Cambodia (+7.0%) and Myanmar (+5.4%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Thailand (-2.7%), Singapore (-3.2%) and Malaysia (-24.1%) illustrated a downward trend over the same period. Vietnam (+36 p.p.), Thailand (+7 p.p.), Cambodia (+4.7 p.p.), the Philippines (+3.9 p.p.), Singapore (+2.2 p.p.) and Myanmar (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -50.5% from 2012 to 2022, respectively.

In value terms, the largest footwear treatments importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Singapore ($X), with a combined 77% share of total imports.

Vietnam, with a CAGR of +7.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2019 when the import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia ($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 Philippines (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :