In 2023, the import of machinery to prepare, tan, work hides, skins, leather to China stood at a higher level than forecasted values for subsequent years. From 2024 to 2028, the forecast shows a steady decline, with annual figures decreasing year-on-year. Specifically, the drop from 2024 to 2025 is followed by continued reductions through 2028. The Compound Annual Growth Rate (CAGR) over this period reflects a negative trend, indicating an average annual decrease.
Future trends to watch for:
- Technological advancements in domestic production potentially reducing import dependence.
- Changes in China's leather industry affecting demand for imported machinery.
- Global economic factors influencing trade dynamics and machinery costs.
- Policy shifts towards sustainability affecting leather production practices.
