Canada: Composition Leather Market 2024

Composition Leather Market Size in Canada

The Canadian composition leather market was finally on the rise to reach $X in 2021, after four years of decline. Over the period under review, consumption, however, showed a slight slump. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Composition Leather Production in Canada

In value terms, composition leather production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, showed a mild decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by 15% against the previous year. Composition leather production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Composition Leather Exports

Exports from Canada

Composition leather exports from Canada soared to X square meters in 2021, increasing by 36% against 2020. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 1,397% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, composition leather exports surged to $X in 2021. In general, exports enjoyed a tangible increase. The pace of growth was the most pronounced in 2014 when exports increased by 504% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria (X square meters) was the main destination for composition leather exports from Canada, accounting for a 99% share of total exports. It was followed by the United States (X square meters), with a 0.3% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Nigeria totaled +79.2%.

In value terms, Nigeria ($X) remains the key foreign market for composition leather exports from Canada, comprising 95% of total exports. The second position in the ranking was held by the United States ($X), with a 3.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Nigeria totaled +63.5%.

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, shrinking by -10.6% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 356%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Nigeria amounted to $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.5%), while the prices for the other major destinations experienced a decline.

Composition Leather Imports

Imports into Canada

In 2021, approx. X square meters of composition leather were imported into Canada; reducing by -20.8% against 2020. Overall, imports, however, saw a measured expansion. The pace of growth was the most pronounced in 2020 with an increase of 73% against the previous year. As a result, imports reached the peak of X square meters, and then shrank rapidly in the following year.

In value terms, composition leather imports fell remarkably to $X in 2021. Over the period under review, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 70% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of composition leather to Canada, with a 59% share of total imports. Moreover, composition leather imports from China exceeded the figures recorded by the second-largest supplier, Germany (X square meters), twofold. The third position in this ranking was held by the United States (X square meters), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.1% per year) and the United States (+2.3% per year).

In value terms, China ($X) constituted the largest supplier of composition leather to Canada, comprising 45% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.1% per year) and Germany (-7.3% per year).

Import Prices by Country

In 2021, the average composition leather import price amounted to $X per square meter, falling by -13.5% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2016 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per square meter), while the price for Germany ($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 (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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