Thailand: Vegetable Tanning Extracts Market 2025

Vegetable Tanning Extracts Market Size in Thailand

The Thai vegetable tanning extracts market totaled $X in 2022, picking up by 8.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Vegetable Tanning Extracts Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of tanning extracts of vegetable origin, tannins and their salts other derivatives, when their volume decreased by -63.7% to X tons. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by 1,407% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable tanning extracts exports soared to $X in 2022. In general, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 1,113%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for vegetable tanning extracts exports from Thailand, accounting for a 73% share of total exports. Moreover, vegetable tanning extracts exports to Myanmar exceeded the volume sent to the second major destination, the UK (X tons), fourfold. Lao People's Democratic Republic (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+128.9% per year) and Lao People's Democratic Republic (+42.9% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Thailand, comprising 82% of total exports. The second position in the ranking was held by the UK ($X), with a 14% share of total exports. It was followed by Lao People's Democratic Republic, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+105.2% per year) and Lao People's Democratic Republic (+38.7% per year).

Export Prices by Country

In 2022, the average vegetable tanning extracts export price amounted to $X per ton, surging by 688% against the previous year. Overall, the export price saw buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Tanning Extracts Imports

Imports into Thailand

In 2022, purchases abroad of tanning extracts of vegetable origin, tannins and their salts other derivatives increased by 5% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, vegetable tanning extracts imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Slovenia (X tons), Italy (X tons) and Argentina (X tons) were the main suppliers of vegetable tanning extracts imports to Thailand, together accounting for 65% of total imports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +35.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable tanning extracts suppliers to Thailand were Italy ($X), Slovenia ($X) and Argentina ($X), together comprising 75% of total imports.

Slovenia, with a CAGR of +34.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vegetable tanning extracts import price amounted to $X per ton, with an increase of 2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2019 an increase of 34%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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