South-Eastern Asia: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in South-Eastern Asia

In 2021, the Southeast Asian synthetic organic tanning substances market increased by 31% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances in South-Eastern Asia

In value terms, synthetic organic tanning substances production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a mild decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 7%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports in South-Eastern Asia

Synthetic organic tanning substances exports reached X tons in 2021, remaining relatively unchanged against the previous year's figure. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -2.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 44%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances exports dropped to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +107.0% against 2014 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 51%. Over the period under review, the exports reached the peak figure at $X in 2020, and then shrank in the following year.

Exports by Country

Indonesia (X tons) and Singapore (X tons) were the key exporters of synthetic organic tanning substances in 2021, accounting for near 46% and 32% of total exports, respectively. It was distantly followed by Thailand (X tons), generating a 21% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +47.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

Among the main exporting countries, Thailand, with a CAGR of +41.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, dropping by -6.1% against the previous year. Overall, the export price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2020 an increase of 8.8% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Organic Tanning Substances

Imports in South-Eastern Asia

Synthetic organic tanning substances imports soared to X tons in 2021, rising by 17% compared with the year before. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam was the major importing country with an import of around X tons, which recorded 43% of total imports. It was distantly followed by Thailand (X tons), Indonesia (X tons) and Singapore (X tons), together mixing up a 55% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic tanning substances importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 88% of total imports.

Thailand, with a CAGR of +9.6%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 1.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 7.1% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and Thailand ($X per ton), while Singapore ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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