Italy: Composition Leather Market 2024

Composition Leather Market Size in Italy

In 2021, the Italian composition leather market increased by 6.3% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, showed a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Composition Leather Production in Italy

In value terms, composition leather production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a dramatic decrease. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Composition Leather Exports

Exports from Italy

After six years of decline, shipments abroad of composition leather increased by 6% to X square meters in 2021. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 6.3% 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 failed to regain momentum.

In value terms, composition leather exports surged to $X in 2021. In general, exports, however, showed a deep contraction. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X square meters), China (X square meters) and Hong Kong SAR (X square meters) were the main destinations of composition leather exports from Italy, with a combined 38% share of total exports. These countries were followed by Turkey, Pakistan, Portugal, Nigeria, Morocco, Poland, Romania, the United States, Ghana and Spain, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +10.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Hong Kong SAR ($X) appeared to be the largest markets for composition leather exported from Italy worldwide, together comprising 25% of total exports. Romania, Turkey, the United States, Portugal, Spain, Poland, Morocco, Nigeria, Ghana and Pakistan lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Ghana, with a CAGR of +8.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average composition leather export price stood at $X per square meter in 2021, with an increase of 16% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 17%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per square meter), while the average price for exports to Pakistan ($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 Spain (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Composition Leather Imports

Imports into Italy

For the seventh year in a row, Italy recorded decline in supplies from abroad of composition leather, which decreased by -1.5% to X square meters in 2021. Overall, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of 2.7%. Over the period under review, imports reached the maximum at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, composition leather imports reduced notably to $X in 2021. Over the period under review, imports saw a deep setback. The pace of growth appeared the most rapid in 2020 when imports increased by 16% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X square meters), Slovenia (X square meters) and China (X square meters) were the main suppliers of composition leather imports to Italy, with a combined 86% share of total imports. These countries were followed by Turkey, the Netherlands, the UK and France, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +275.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composition leather suppliers to Italy were Germany ($X), the UK ($X) and China ($X), together accounting for 64% of total imports. Slovenia, France, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, the Netherlands, with a CAGR of +239.4%, saw the highest growth rate of 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

The average composition leather import price stood at $X per square meter in 2021, shrinking by -28.4% against the previous year. Over the period under review, the import price, however, showed resilient growth. The growth pace was the most rapid in 2019 when the average import price increased by 56%. The import price peaked at $X per square meter in 2020, and then shrank sharply in the following year.

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 the UK ($X per square meter), while the price for Slovenia ($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 France (+39.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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