Indonesia: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Indonesia

In 2022, the Indonesian synthetic organic tanning substances market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances in Indonesia

In value terms, synthetic organic tanning substances production shrank slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Synthetic Organic Tanning Substances

Exports from Indonesia

In 2022, the amount of synthetic organic tanning substances exported from Indonesia reduced rapidly to X tons, waning by X% against 2021. Over the period under review, exports continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then declined sharply in the following year.

In value terms, synthetic organic tanning substances exports fell dramatically to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

China (X tons) was the main destination for synthetic organic tanning substances exports from Indonesia, with a X% share of total exports. Moreover, synthetic organic tanning substances exports to China exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Vietnam (X% per year).

In value terms, China ($X) remains the key foreign market for synthetic organic tanning substances exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average synthetic organic tanning substances export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Indonesia

In 2022, synthetic organic tanning substances imports into Indonesia reduced to X tons, declining by X% against 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, synthetic organic tanning substances imports dropped to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), Italy (X tons) and Spain (X tons) were the main suppliers of synthetic organic tanning substances imports to Indonesia, with a combined X% share of total imports. Thailand, the Netherlands, China, Germany and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and India ($X) constituted the largest synthetic organic tanning substances suppliers to Indonesia, together accounting for X% of total imports. The Netherlands, Germany, China, Thailand and France lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average synthetic organic tanning substances import price amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform