U.S.: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in the U.S.

In 2021, the U.S. synthetic organic tanning substances market increased by 7.2% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances in the U.S.

In value terms, synthetic organic tanning substances production reduced to $X in 2021. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by 8.5%. Synthetic organic tanning substances production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from the U.S.

In 2021, shipments abroad of synthetic organic tanning substances decreased by -15.3% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a deep slump. The growth pace was the most rapid in 2017 when exports increased by 45% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances exports contracted to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for synthetic organic tanning substances exports from the United States, with a 38% share of total exports. Moreover, synthetic organic tanning substances exports to South Korea exceeded the volume sent to the second major destination, China (X tons), fivefold. Italy (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-28.9% per year) and Italy (-11.4% per year).

In value terms, the largest markets for synthetic organic tanning substances exported from the United States were South Korea ($X), Italy ($X) and Canada ($X), with a combined 36% share of total exports. China, India, Mexico, Guatemala, Peru, the Dominican Republic, Spain, Pakistan, El Salvador and Indonesia lagged somewhat behind, together accounting for a further 39%.

Among the main countries of destination, El Salvador, with a CAGR of +35.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic organic tanning substances export price stood at $X per ton in 2021, surging by 6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 8.4% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into the U.S.

In 2021, purchases abroad of synthetic organic tanning substances increased by 22% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 51%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. Over the period under review, imports, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2014 when imports increased by 78%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), Brazil (X tons) and the Netherlands (X tons) were the main suppliers of synthetic organic tanning substances imports to the United States, with a combined 64% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +89.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of synthetic organic tanning substances to the United States, comprising 36% of total imports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total imports. It was followed by Mexico, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+7.7% per year) and Mexico (+19.9% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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