India Leather Chemicals Market Shipment Analysis
India Leather Chemicals Market registered a decline of -3.26% in value shipments in 2022 as compared to 2021 and a decrease of -4.48% CAGR in 2022 over a period of 2017. In Leather Chemicals Market India is becoming more competitive as the HHI index in 2022 was 1715 while in 2017 it was 1931. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Leather Chemicals Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Leather Chemicals Market in 2022 was 0.51 while in 2017 it was 0.52. Italy, Netherlands, Germany, Spain and China were among the top players of the market in 2022, where Italy acquired the largest market share of 30.72% with a shipment value of 4.29 million USD in 2022 Italy also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Leather Chemicals Market. In 2017 Italy had the largest market share of 34.21% with the shipment value of 6.49 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Italy offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Leather Chemicals Market in 2017.
