Bangladesh: Composition Leather Market 2024

Composition Leather Market Size in Bangladesh

The Bangladeshi composition leather market shrank modestly to $X in 2021, reducing by -3.3% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Composition leather consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Composition Leather Production in Bangladesh

In value terms, composition leather production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 27% against the previous year. Composition leather production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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Composition Leather Exports

Exports from Bangladesh

Composition leather exports from Bangladesh contracted to X square meters in 2021, declining by -8.2% compared with 2020 figures. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 236%. Over the period under review, the exports attained the peak figure at X square meters in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, composition leather exports contracted to $X in 2021. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 207% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cambodia (X square meters) was the main destination for composition leather exports from Bangladesh, accounting for a approx. 50% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Cambodia amounted to +23.5%.

In value terms, Cambodia ($X) also remains the key foreign market for composition leather exports from Bangladesh.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia amounted to +39.4%.

Export Prices by Country

In 2021, the average composition leather export price amounted to $X per square meter, shrinking by -2.1% against the previous year. Over the period under review, the export price, however, posted a measured increase. The growth pace was the most rapid in 2018 when the average export price increased by 106% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2020, and then shrank slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Cambodia.

From 2012 to 2021, the rate of growth in terms of prices for Myanmar amounted to +146.6% per year.

Composition Leather Imports

Imports into Bangladesh

In 2021, approx. X square meters of composition leather were imported into Bangladesh; picking up by 206% against the previous year's figure. Over the period under review, imports, however, saw a deep setback. Imports peaked at X square meters in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, composition leather imports soared to $X in 2021. In general, imports continue to indicate pronounced growth. The growth pace was the most rapid in 2019 when imports increased by 223%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest composition leather supplier to Bangladesh, with a 88% share of total imports. Moreover, composition leather imports from China exceeded the figures recorded by the second-largest supplier, Italy (X square meters), more than tenfold. The third position in this ranking was held by India (X square meters), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.5% per year) and India (-7.0% per year).

In value terms, China ($X) constituted the largest supplier of composition leather to Bangladesh, comprising 81% of total imports. The second position in the ranking was held by Italy ($X), with a 5.3% share of total imports. It was followed by India, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.6% per year) and India (-6.2% per year).

Import Prices by Country

The average composition leather import price stood at $X per square meter in 2021, declining by -36.4% against the previous year. Overall, the import price, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of 63%. Over the period under review, average import prices hit record highs at $X per square meter in 2020, and then declined dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for China ($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 Germany (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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