The forecast for the re-import of machinery for hide and leather work, including footwear to China, shows a steady decline from 2024 through 2028. The forecasted value starts at $136.19 thousand USD in 2024 and drops significantly to $49.46 thousand USD by 2028. This consistent downturn indicates a notable annual decrease in value.
Key Trends:
- From 2023 to 2024, the re-import market for this machinery begins its decline.
- The year-on-year decrease is substantial, with forecasts showing an annual drop from more than 16% between 2024 and 2025 to nearly 29% between 2027 and 2028.
- The compound annual growth rate (CAGR) over this forecast period reflects an average decrease of approximately 21% per year.
Future Trends to Watch:
As China's domestic production capabilities continue to strengthen, a sustained decrease in the re-importation of machinery associated with leatherwork is expected. This trend may accelerate if advancements in local manufacturing technology reduce dependency on traditional import channels. Additionally, shifts in global trade policies and China's environmental regulations could further impact these import patterns.
