United Arab Emirates: Composition Leather Market 2024

Composition Leather Market Size in the United Arab Emirates

The composition leather market in the United Arab Emirates skyrocketed to $X in 2021, growing by 39% 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). In general, consumption saw a noticeable increase. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Composition Leather Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of composition leather decreased by -87% to X square meters, falling for the third consecutive year after two years of growth. Over the period under review, exports saw a precipitous curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 339% against the previous year. The exports peaked at X square meters in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, composition leather exports declined notably to $X in 2021. In general, exports showed a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 905%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X square meters) was the main destination for composition leather exports from the United Arab Emirates, accounting for a 46% share of total exports. Moreover, composition leather exports to Oman exceeded the volume sent to the second major destination, Pakistan (X square meters), twofold. Maldives (X square meters) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+45.0% per year) and Maldives (+55.6% per year).

In value terms, Oman ($X) emerged as the key foreign market for composition leather exports from the United Arab Emirates, comprising 47% of total exports. The second position in the ranking was taken by the UK ($X), with a 22% share of total exports. It was followed by Maldives, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman stood at -13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-5.9% per year) and Maldives (+74.0% per year).

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, increasing by 29% against the previous year. In general, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 131%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per square meter), while the average price for exports to Rwanda ($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 Democratic Republic of the Congo (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Composition Leather Imports

Imports into the United Arab Emirates

In 2021, approx. X square meters of composition leather were imported into the United Arab Emirates; increasing by 18% compared with the year before. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 1,318%. As a result, imports reached the peak of X square meters. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, composition leather imports expanded significantly to $X in 2021. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 614%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest composition leather supplier to the United Arab Emirates, accounting for a 59% share of total imports. Moreover, composition leather imports from China exceeded the figures recorded by the second-largest supplier, the UK (X square meters), twofold. Portugal (X square meters) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +52.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+51.4% per year) and Portugal (-16.4% per year).

In value terms, the UK ($X) constituted the largest supplier of composition leather to the United Arab Emirates, comprising 77% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Germany, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +58.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+53.7% per year) and Germany (+33.9% per year).

Import Prices by Country

In 2021, the average composition leather import price amounted to $X per square meter, waning by -4.5% against the previous year. Overall, the import price, however, showed a temperate expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 235% against the previous year. The import price peaked at $X per square meter in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per square meter), while the price for Portugal ($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 (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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