Thailand: Leather Market 2024

Leather Market Size in Thailand

The Thai leather market shrank significantly to $X in 2022, which is down by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Leather Production in Thailand

In value terms, leather production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. 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 remained at a lower figure.

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Leather Exports

Exports from Thailand

In 2022, overseas shipments of leather decreased by X% to X square meters, falling for the third consecutive year after eight years of growth. In general, total exports indicated a measured increase from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X square meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, leather exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X square meters) was the main destination for leather exports from Thailand, accounting for a X% share of total exports. Moreover, leather exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X square meters), fivefold. Vietnam (X square meters) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Vietnam (X% per year).

In value terms, Vietnam ($X), China ($X) and Hong Kong SAR ($X) appeared to be the largest markets for leather exported from Thailand worldwide, with a combined X% share of total exports. Indonesia, India, Taiwan (Chinese), the Netherlands and Italy lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, India, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2021, the average leather export price amounted to $X per square meter, with an increase of X% against the previous year. In general, the export price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. 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 Hong Kong SAR ($X per square meter), while the average price for exports to Taiwan (Chinese) ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Thailand

In 2022, after two years of growth, there was significant decline in overseas purchases of leather, when their volume decreased by X% to X square meters. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X square meters, and then declined sharply in the following year.

In value terms, leather imports rose markedly 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 remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 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

China (X square meters), the United States (X square meters) and the Netherlands (X square meters) were the main suppliers of leather imports to Thailand, together accounting for X% of total imports. Brazil, Uruguay, Australia, Argentina and Paraguay lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Argentina ($X) constituted the largest supplier of leather to Thailand, comprising X% of total imports. The second position in the ranking was taken by Uruguay ($X), with an X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2021, the average annual growth rate of value from Argentina totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (X% per year) and Brazil (X% per year).

Import Prices by Country

The average leather import price stood at $X per square meter in 2021, declining by X% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2018 to 2021, the average import prices remained 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 Argentina ($X per square meter), while the price for Australia ($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 Uruguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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