SADC: Composition Leather Market 2024

Composition Leather Market Size in SADC

The SADC composition leather market skyrocketed to $X in 2021, increasing by 29% against the previous year. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.2% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Composition Leather Production in SADC

In value terms, composition leather production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw a mild downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 14%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Composition Leather Exports

Exports in SADC

In 2021, composition leather exports in SADC surged to X square meters, rising by 62% compared with the previous year. Overall, exports, however, saw a pronounced setback. The growth pace was the most rapid in 2017 when exports increased by 148%. Over the period under review, the exports reached the peak figure at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, composition leather exports skyrocketed to $X in 2021. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 355% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, accounting for X square meters, which was near 95% of total exports in 2021. Zambia (X square meters) and Tanzania (X square meters) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to composition leather exports from South Africa stood at -2.8%. At the same time, Tanzania (+71.4%) and Zambia (+3.7%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +71.4% from 2012-2021. From 2012 to 2021, the share of Tanzania increased by +1.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest composition leather supplier in SADC, comprising 99% of total exports. The second position in the ranking was taken by Zambia ($X), with a 0.3% share of total exports.

In South Africa, composition leather exports increased at an average annual rate of +25.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Zambia (+3.3% per year) and Tanzania (+50.8% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per square meter, growing by 22% against the previous year. Over the period under review, the export price continues to indicate significant growth. The growth pace was the most rapid in 2015 an increase of 594% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per square meter), while Tanzania ($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 South Africa (+29.0%), while the other leaders experienced a decline in the export price figures.

Composition Leather Imports

Imports in SADC

Composition leather imports skyrocketed to X square meters in 2021, growing by 23% on the year before. Overall, imports saw a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 166% against the previous year. As a result, imports reached the peak of X square meters. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, composition leather imports surged to $X in 2021. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 84% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Lesotho (X square meters) represented the main importer of composition leather, achieving 46% of total imports. Madagascar (X square meters) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by South Africa (18%) and Democratic Republic of the Congo (7.8%). The following importers - Tanzania (X square meters) and Angola (X square meters) - together made up 4.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to composition leather imports into Lesotho stood at +28.1%. At the same time, Madagascar (+37.5%), Angola (+16.7%), Tanzania (+5.4%) and Democratic Republic of the Congo (+1.2%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing importer imported in SADC, with a CAGR of +37.5% from 2012-2021. By contrast, South Africa (-2.4%) illustrated a downward trend over the same period. While the share of Lesotho (+33 p.p.) and Madagascar (+20 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Tanzania (-1.7 p.p.), Democratic Republic of the Congo (-10.3 p.p.) and South Africa (-39 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lesotho ($X) constitutes the largest market for imported composition leather in SADC, comprising 75% of total imports. The second position in the ranking was held by South Africa ($X), with an 8.9% share of total imports. It was followed by Madagascar, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value in Lesotho amounted to +33.1%. The remaining importing countries recorded the following average annual rates of imports growth: South Africa (-7.6% per year) and Madagascar (+25.6% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per square meter, rising by 31% against the previous year. Over the period under review, the import price enjoyed pronounced growth. The pace of growth appeared the most rapid in 2020 when the import price increased by 168% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lesotho ($X per square meter), while Angola ($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 Democratic Republic of the Congo (+29.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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