Thailand: Market for Tanned or Dressed Furskins 2024

Market Size for Tanned or Dressed Furskins in Thailand

In 2022, the Thai tanned or dressed furskins market increased by 91% to $X, rising for the second year in a row after six years of decline. Overall, consumption recorded a strong expansion. Tanned or dressed furskins consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Tanned or Dressed Furskins in Thailand

In value terms, tanned or dressed furskins production fell sharply to $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 175% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Tanned or Dressed Furskins

Exports from Thailand

In 2022, exports of tanned or dressed furskins from Thailand shrank markedly to X units, falling by -33.7% against 2021 figures. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 690% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, tanned or dressed furskins exports contracted significantly to $X in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 11,427%. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

China (X units) was the main destination for tanned or dressed furskins exports from Thailand, with a 62% share of total exports. Moreover, tanned or dressed furskins exports to China exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by New Zealand (X units), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +177.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+236.0% per year) and New Zealand (+7.1% per year).

In value terms, China ($X) remains the key foreign market for tanned or dressed furskins exports from Thailand, comprising 84% of total exports. The second position in the ranking was taken by South Korea ($X), with an 8.5% share of total exports. It was followed by Turkey, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +278.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+237.9% per year) and Turkey (+47.0% per year).

Export Prices by Country

The average tanned or dressed furskins export price stood at $X per unit in 2022, dropping by -37.1% against the previous year. Overall, the export price, however, enjoyed a significant increase. The growth pace was the most rapid in 2016 an increase of 1,360%. The export price peaked at $X per unit in 2021, and then dropped notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+36.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tanned or Dressed Furskins

Imports into Thailand

After two years of growth, purchases abroad of tanned or dressed furskins decreased by -10.3% to X units in 2022. Over the period under review, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 12,319%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tanned or dressed furskins imports fell to $X in 2022. Overall, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 3,978% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X units) was the main tanned or dressed furskins supplier to Thailand, accounting for a 98% share of total imports. It was followed by Australia (X units), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +83.3%.

In value terms, China ($X) constituted the largest supplier of tanned or dressed furskins to Thailand, comprising 94% of total imports. The second position in the ranking was held by Australia ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +69.7%.

Import Prices by Country

The average tanned or dressed furskins import price stood at $X per unit in 2022, remaining stable against the previous year. Overall, the import price showed a strong increase. The growth pace was the most rapid in 2013 an increase of 212%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Australia ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+22.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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