Sri Lanka: Market for Synthetic Organic Tanning Substances 2025

Market Size for Synthetic Organic Tanning Substances in Sri Lanka

In 2021, the Sri Lankan synthetic organic tanning substances market increased by 43% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, faced a abrupt slump. Synthetic organic tanning substances consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Sri Lanka

For the seventh consecutive year, Sri Lanka recorded growth in shipments abroad of synthetic organic tanning substances, which increased by 20% to X tons in 2021. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 135%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, synthetic organic tanning substances exports surged to $X in 2021. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 90% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

India (X tons) was the main destination for synthetic organic tanning substances exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to India stood at +32.1%.

In value terms, India ($X) also remains the key foreign market for synthetic organic tanning substances exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at +23.9%.

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, declining by -3.8% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 92% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -6.1% per year.

Imports of Synthetic Organic Tanning Substances

Imports into Sri Lanka

In 2021, overseas purchases of synthetic organic tanning substances increased by 23% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 77%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports surged to $X in 2021. Overall, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by 76%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), India (X tons) and Thailand (X tons) were the main suppliers of synthetic organic tanning substances imports to Sri Lanka, with a combined 90% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +10.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of synthetic organic tanning substances to Sri Lanka, comprising 53% of total imports. The second position in the ranking was held by Singapore ($X), with a 19% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from India totaled -18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+6.3% per year) and France (+2.6% per year).

Import Prices by Country

In 2021, the average synthetic organic tanning substances import price amounted to $X per ton, picking up by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2015 an increase of 26%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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