Overview of the Global Market for Synthetic Organic Tanning Substances

Market Size for Synthetic Organic Tanning Substances

After three years of decline, the global synthetic organic tanning substances market increased by 10% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the global market remained at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances

In value terms, synthetic organic tanning substances production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22% against the previous year. Global production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports

In 2021, overseas shipments of synthetic organic tanning substances were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a slight shrinkage. Over the period under review, the global exports attained the maximum 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 skyrocketed to $X in 2021. Overall, exports, however, saw a noticeable slump. Over the period under review, the global exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Italy (X tons), distantly followed by Spain (X tons), India (X tons), Germany (X tons), France (X tons) and the Netherlands (X tons) were the largest exporters of synthetic organic tanning substances, together mixing up 75% of total exports. China (X tons), Mozambique (X tons), Egypt (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Brazil (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +31.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic tanning substances supplying countries worldwide were Italy ($X), Spain ($X) and Germany ($X), with a combined 47% share of global exports. These countries were followed by France, the Netherlands, India, China, Indonesia, Singapore, Taiwan (Chinese), Mozambique, Brazil and Egypt, which together accounted for a further 42%.

In terms of the main exporting countries, Mozambique, with a CAGR of +34.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic organic tanning substances export price amounted to $X per ton, increasing by 2.2% against the previous year. In general, the export price, however, showed a mild downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 2.6%. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+2.3%), while the other global leaders experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports

In 2021, overseas purchases of synthetic organic tanning substances were finally on the rise to reach X tons after three years of decline. Overall, imports, however, continue to indicate a slight decline. Over the period under review, global imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. In general, imports, however, saw a perceptible downturn. Over the period under review, global imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China was the key importer of synthetic organic tanning substances in the world, with the volume of imports amounting to X tons, which was approx. 25% of total imports in 2021. It was distantly followed by Italy (X tons) and Brazil (X tons), together making up a 13% share of total imports. Vietnam (X tons), Pakistan (X tons), Bangladesh (X tons), South Korea (X tons), India (X tons), Argentina (X tons), Turkey (X tons), Nigeria (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of synthetic organic tanning substances. At the same time, Thailand (+11.7%), Argentina (+8.1%), Vietnam (+5.1%), Brazil (+3.1%), Pakistan (+2.6%) and India (+2.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +11.7% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, Bangladesh (-1.4%), South Korea (-2.9%), Taiwan (Chinese) (-6.8%), Turkey (-7.7%) and Nigeria (-10.9%) illustrated a downward trend over the same period. While the share of Brazil (+2.1 p.p.), Argentina (+2 p.p.), China (+1.9 p.p.), Vietnam (+1.8 p.p.) and Thailand (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Turkey (-2.5 p.p.) and Nigeria (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported synthetic organic tanning substances worldwide, comprising 25% of global imports. The second position in the ranking was taken by Italy ($X), with a 7.4% share of global imports. It was followed by Brazil, with a 6% share.

In China, synthetic organic tanning substances imports contracted by an average annual rate of -1.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+1.0% per year) and Brazil (+2.8% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, increasing by 2.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 3.4% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Italy ($X per ton) and India ($X per ton), while Vietnam ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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