Leather Further Prepared After Tanning or Crusting Market

The global market for leather further prepared after tanning or crusting is projected to see a slight increase in performance over the period from 2022 to 2030. Consumption, production, imports, and exports are analyzed, with China, the United States, and Pakistan being the largest consumers and producers. The report provides insights on market value, consumption trends, per capita consumption, production volumes, import and export activity, and average prices for leather products.

Market Forecast

Driven by rising demand for leather further prepared after tanning or crusting worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.2% for the period from 2022 to 2030, which is projected to bring the market volume to 170M square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market value to $1.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Leather Further Prepared After Tanning or Crusting

Global consumption of leather further prepared after tanning or crusting contracted modestly to 167M square meters in 2022, reducing by -1.8% on 2021. Overall, consumption saw a deep reduction. The growth pace was the most rapid in 2021 with an increase of 3.7%. Over the period under review, global consumption of reached the maximum volume at 451M square meters in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The value of the market for leather further prepared after tanning or crusting worldwide declined modestly to $1.3B in 2022, waning by -2.4% 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). Over the period under review, consumption continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 5.7%. Global consumption peaked at $3.7B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (57M square meters) remains the largest leather further prepared after tanning or crusting consuming country worldwide, accounting for 34% of total volume. Moreover, consumption of leather further prepared after tanning or crusting in China exceeded the figures recorded by the second-largest consumer, the United States (28M square meters), twofold. Pakistan (6.6M square meters) ranked third in terms of total consumption with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at -6.5%. In the other countries, the average annual rates were as follows: the United States (-7.4% per year) and Pakistan (-10.7% per year).

In value terms, China ($333M), the United States ($280M) and Japan ($84M) were the countries with the highest levels of market value in 2022, with a combined 52% share of the global market. Pakistan, Democratic Republic of the Congo, Vietnam, France, Germany, Russia, Mexico, Nigeria, Portugal and Thailand lagged somewhat behind, together accounting for a further 26%.

Among the main consuming countries, Portugal, with a CAGR of -0.8%, saw the highest rates of growth with regard to market size over the period under review, while crusting for the other global leaders experienced a decline in the market figures.

In 2022, the highest levels of per capita consumption of leather further prepared after tanning or crusting was registered in Portugal (345 square meters per 1000 persons), followed by the United States (84 square meters per 1000 persons), Germany (61 square meters per 1000 persons) and Vietnam (50 square meters per 1000 persons), while the world average per capita consumption of leather further prepared after tanning or crusting was estimated at 21 square meters per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the per capita consumption of leather further prepared after tanning or crusting in Portugal amounted to +1.2%. In the other countries, the average annual rates were as follows: the United States (-7.9% per year) and Germany (-15.0% per year).

Production

World Production of Leather Further Prepared After Tanning or Crusting

In 2022, the amount of leather further prepared after tanning or crusting produced worldwide declined slightly to 168M square meters, remaining stable against 2021. Over the period under review, production saw a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 4.2% against the previous year. Global production peaked at 513M square meters in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, production of leather further prepared after tanning or crusting fell slightly to $1.4B in 2022 estimated in export price. In general, production showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 1.5%. Over the period under review, global production of hit record highs at $5.1B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of production of leather further prepared after tanning or crusting was China (59M square meters), comprising approx. 35% of total volume. Moreover, production of leather further prepared after tanning or crusting in China exceeded the figures recorded by the second-largest producer, the United States (28M square meters), twofold. Thailand (11M square meters) ranked third in terms of total production with a 6.8% share.

In China, production of leather further prepared after tanning or crusting declined by an average annual rate of -7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-7.4% per year) and Thailand (-2.5% per year).

Imports

World Imports of Leather Further Prepared After Tanning or Crusting

In 2022, overseas purchases of leather further prepared after tanning or crusting increased by 1.6% to 27M square meters, rising for the second year in a row after three years of decline. Overall, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 27%. As a result, imports attained the peak of 73M square meters. From 2015 to 2022, the growth of global imports of failed to regain momentum.

In value terms, imports of leather further prepared after tanning or crusting expanded markedly to $170M in 2022. In general, imports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 16% against the previous year. Over the period under review, global imports of attained the peak figure at $411M in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

The countries with the highest levels of imports of leather further prepared after tanning or crusting in 2022 were Vietnam (5.3M square meters), Portugal (3.7M square meters), China (3.3M square meters) and Italy (2.6M square meters), together reaching 55% of total import. Spain (1.6M square meters) took the next position in the ranking, followed by Germany (1.5M square meters). All these countries together held near 12% share of total imports. The following importers - Albania (1.1M square meters), Indonesia (1.1M square meters), Russia (1M square meters) and Cambodia (1M square meters) - each recorded a 15% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Albania (with a CAGR of +20.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest leather further prepared after tanning or crusting importing markets worldwide were Vietnam ($41M), Portugal ($20M) and Italy ($17M), with a combined 46% share of global imports. Germany, China, Spain, Indonesia, Cambodia, Albania and Russia lagged somewhat behind, together comprising a further 35%.

Albania, with a CAGR of +17.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for leather further prepared after tanning or crusting stood at $6.2 per square meter in 2022, increasing by 12% against the previous year. In general, the import price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2015 when the average import price increased by 13%. Over the period under review, average import prices attained the maximum at $7.2 per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($8 per square meter), while China ($3.4 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+1.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Leather Further Prepared After Tanning or Crusting

In 2022, shipments abroad of leather further prepared after tanning or crusting increased by 5.6% to 28M square meters, rising for the second consecutive year after three years of decline. In general, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 17%. The global exports peaked at 111M square meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of leather further prepared after tanning or crusting expanded to $126M in 2022. Over the period under review, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 13%. The global exports peaked at $448M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, Thailand (8.3M square meters), distantly followed by China (5.1M square meters), Taiwan (Chinese) (3.3M square meters), Hong Kong SAR (2.6M square meters), Cambodia (2.5M square meters) and Italy (1.5M square meters) were the largest exporters of leather further prepared after tanning or crusting, together constituting 83% of total exports. South Korea (723K square meters), Spain (588K square meters) and Germany (579K square meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cambodia (with a CAGR of +82.2%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($36M) remains the largest leather further prepared after tanning or crusting supplier worldwide, comprising 29% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($16M), with a 12% share of global exports. It was followed by Cambodia, with a 12% share.

In China, exports of leather further prepared after tanning or crusting shrank by an average annual rate of -7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-13.9% per year) and Cambodia (+79.4% per year).

Export Prices By Country

In 2022, the average export price for leather further prepared after tanning or crusting amounted to $4.5 per square meter, falling by -3.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43%. Over the period under review, the average export prices reached the maximum at $6 per square meter in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($7.5 per square meter), while Hong Kong SAR ($1.7 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.3%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform