Spain: Composition Leather Market 2024

Composition Leather Market Size in Spain

The Spanish composition leather market fell notably to $X in 2021, which is down by -71.8% against the previous year. Overall, consumption faced a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 6.2% against the previous year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Composition Leather Production in Spain

In value terms, composition leather production dropped to $X in 2021 estimated in export price. Overall, production recorded a noticeable slump. The pace of growth appeared the most rapid in 2014 with a decrease of -3.3% against the previous year. Composition leather production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Composition Leather Exports

Exports from Spain

In 2021, exports of composition leather from Spain soared to X square meters, growing by 127% against the year before. In general, exports continue to indicate notable growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, composition leather exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a mild contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X square meters), the United States (X square meters) and Morocco (X square meters) were the main destinations of composition leather exports from Spain, with a combined 57% share of total exports. These countries were followed by Germany, Italy, Portugal and the UK, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +34.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for composition leather exported from Spain were Hong Kong SAR ($X), the United States ($X) and Germany ($X), with a combined 64% share of total exports. These countries were followed by Morocco, Italy, Portugal and the UK, which together accounted for a further 19%.

Italy, with a CAGR of +30.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, waning by -26.1% against the previous year. Overall, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2013 an increase of 9.1% against the previous year. Over the period under review, the average export prices reached the maximum at $X per square meter in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (-1.1%), while the prices for the other major destinations experienced a decline.

Composition Leather Imports

Imports into Spain

In 2021, supplies from abroad of composition leather increased by 5.5% to X square meters for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2015 when imports increased by 19%. Over the period under review, imports attained the maximum at X square meters in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, composition leather imports fell to $X in 2021. Overall, imports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 6.4% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X square meters) constituted the largest supplier of composition leather to Spain, with a 71% share of total imports. Moreover, composition leather imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X square meters), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.5% per year) and the UK (+85.6% per year).

In value terms, Germany ($X) constituted the largest supplier of composition leather to Spain, comprising 49% of total imports. The second position in the ranking was held by the UK ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+94.1% per year) and Italy (-11.9% per year).

Import Prices by Country

In 2021, the average composition leather import price amounted to $X per square meter, with a decrease of -11.9% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, composition leather import price increased by +51.8% against 2016 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 27% against the previous year. Over the period under review, average import prices reached the maximum at $X per square meter in 2020, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per square meter), while the price for Germany ($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 the UK (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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