Report Update: May 1, 2024

Republic of Korea - Tanning Extracts Of Vegetable Origin, Tannins And Their Salts Other Derivatives - Market Analysis, Forecast, Size, Trends And Insights

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Vegetable Tanning Extracts Price in South Korea - 2022

Vegetable Tanning Extracts Price in South Korea (CIF) - 2022

In 2022, the average vegetable tanning extracts import price amounted to $3,976 per ton, picking up by 100% against the previous year. Overall, the import price showed a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($12,573 per ton), while the price for South Africa ($1,584 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Vegetable Tanning Extracts Price in South Korea (FOB) - 2022

The average vegetable tanning extracts export price stood at $2,083 per ton in 2022, leveling off at the previous year. In general, the export price showed mild growth. The most prominent rate of growth was recorded in 2018 an increase of 34%. Over the period under review, the average export prices reached the maximum at $2,141 per ton in 2015; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($1,907 per ton), while the average price for exports to Pakistan stood at $1,545 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+0.8%), while the prices for the other major destinations experienced a decline.

Vegetable Tanning Extracts Imports in South Korea

In 2022, approx. 1.9K tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were imported into South Korea; with an increase of 4.9% against 2021. Over the period under review, imports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 11%.

In value terms, vegetable tanning extracts imports skyrocketed to $7.5M in 2022. Overall, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Vegetable Tanning Extracts in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	199	258	159	4,277	178.0%
Argentina	877	486	688	844	-1.3%
South Africa	1,085	555	1,014	819	-8.9%
Brazil	1,217	866	601	660	-18.5%
Italy	387	586	425	261	-12.3%
France	240	241	239	216	-3.5%
India	181	218	168	142	-7.8%
Others	290	165	271	258	-3.8%
Total	4,475	3,375	3,566	7,478	18.7%

Top Suppliers of Vegetable Tanning Extracts to South Korea in 2022:

South Africa (517.2 tons)
Argentina (373.0 tons)
Brazil (344.0 tons)
China (340.2 tons)
Italy (112.1 tons)
France (97.8 tons)
India (78.4 tons)

Vegetable Tanning Extracts Exports in South Korea

Vegetable tanning extracts exports from South Korea fell markedly to 11 tons in 2022, with a decrease of -79.4% compared with 2021. Overall, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of 92%.

In value terms, vegetable tanning extracts exports shrank remarkably to $22K in 2022. In general, exports faced a dramatic decrease. The pace of growth was the most pronounced in 2021 when exports increased by 140% against the previous year.

Export of Vegetable Tanning Extracts in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Bangladesh	49.6	18.9	33.5	19.6	-26.6%
Pakistan	61.9	16.1	39.9	0.4	-81.4%
China	52.5	7.7	8.5	N/A	-59.8%
Others	0.9	1.6	24.4	2.1	32.6%
Total	165	44.3	106	22.1	-48.8%

Top Export Markets for Vegetable Tanning Extracts from South Korea in 2022:

Bangladesh (10.3 tons)
Pakistan (0.2 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vegetable tanning extracts market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20122250 - Tanning extracts of vegetable origin, tannins and their salts, e thers, esters and other derivatives

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023