ASEAN: Leather Market 2024

Leather Market Size in ASEAN

In 2023, the ASEAN leather market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Leather Production in ASEAN

In value terms, leather production expanded rapidly to $X in 2023 estimated in export price. Overall, production, however, showed a abrupt decline. The growth pace was the most rapid in 2022 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Leather Exports

Exports in ASEAN

In 2023, exports of leather in ASEAN soared to X square meters, growing by X% compared with 2022 figures. Over the period under review, exports, however, continue to indicate a mild downturn. The volume of export peaked at X square meters in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, leather exports dropped to $X in 2023. Overall, exports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

Exports by Country

Vietnam represented the largest exporter of leather in ASEAN, with the volume of exports recording X square meters, which was approx. X% of total exports in 2023. Thailand (X square meters) held the second position in the ranking, distantly followed by Indonesia (X square meters). All these countries together held approx. X% share of total exports. Malaysia (X square meters) held a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest leather supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Indonesia ($X), together comprising X% of total exports. These countries were followed by Malaysia, which accounted for a further X%.

In terms of the main exporting countries, Malaysia, 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 mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per square meter, declining by X% against the previous year. Overall, the export price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per square meter in 2022, and then declined markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($X per square meter), while Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Leather Imports

Imports in ASEAN

In 2023, approx. X square meters of leather were imported in ASEAN; with an increase of X% against the previous year. Total imports indicated prominent growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X square meters. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, leather imports reduced slightly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Vietnam represented the major importer of leather in ASEAN, with the volume of imports accounting for X square meters, which was near X% of total imports in 2023. Indonesia (X square meters) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (X%) and Thailand (X%). The Philippines (X square meters) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to leather imports into Vietnam stood at X%. At the same time, Cambodia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. Vietnam (X p.p.) and Cambodia (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Thailand saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported leather in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Cambodia, with a X% share.

In Vietnam, leather imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Cambodia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per square meter in 2023, shrinking by X% against the previous year. In general, the import price continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Philippines ($X per square meter), while Thailand ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform