Argentina: Composition Leather Market 2024

Composition Leather Market Size in Argentina

In 2021, after two years of decline, there was significant growth in the Argentinian composition leather market, when its value increased by 21% to $X. In general, consumption, however, continues to indicate a noticeable downturn. Composition leather consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Composition Leather Production in Argentina

In value terms, composition leather production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 18%. Composition leather production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Composition Leather Exports

Exports from Argentina

In 2021, shipments abroad of composition leather decreased by -48.9% to X square meters, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 59% against the previous year. As a result, the exports attained the peak of X square meters. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, composition leather exports reduced markedly to $X in 2021. In general, exports recorded a sharp shrinkage. The growth pace was the most rapid in 2014 with an increase of 101%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X square meters), Cambodia (X square meters) and Guatemala (X square meters) were the main destinations of composition leather exports from Argentina, with a combined 71% share of total exports. Brazil, Singapore, China, Vietnam, Colombia, Mexico, Turkey, Portugal, Peru and Chile lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +65.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for composition leather exports from Argentina, comprising 35% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total exports. It was followed by Guatemala, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to Cambodia amounted to -22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-1.9% per year) and Guatemala (-8.1% per year).

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, dropping by -31.8% against the previous year. Over the period under review, the export price recorded a mild decrease. The pace of growth was the most pronounced in 2020 when the average export price increased by 30% against the previous year. The export price peaked at $X per square meter in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per square meter), while the average price for exports to Singapore ($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 Chile (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Composition Leather Imports

Imports into Argentina

In 2021, the amount of composition leather imported into Argentina surged to X square meters, jumping by 140% on the previous year's figure. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 201%. Over the period under review, imports reached the peak figure at X square meters in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, composition leather imports soared to $X in 2021. Over the period under review, imports continue to indicate a prominent increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X square meters), Germany (X square meters) and Italy (X square meters) were the main suppliers of composition leather imports to Argentina, with a combined 59% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +33.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of composition leather to Argentina, comprising 31% of total imports. The second position in the ranking was held by Turkey ($X), with a 13% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+21.2% per year) and Italy (-6.2% per year).

Import Prices by Country

The average composition leather import price stood at $X per square meter in 2021, with an increase of 13% against the previous year. Over the period under review, the import price, however, recorded a pronounced curtailment. Over the period under review, average import prices hit record highs at $X per square meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per square meter), while the price for Uruguay ($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 Italy (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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