The leather chemical market is growing at a faster pace owing to rising demand of leather from footwear, furniture, automotive, aerospace, apparel and other fashion accessories. Rising disposable income along with improving the standard of living of the consumers is driving the market growth. Further, booming automotive, aerospace and fashion industry has directly impacted the leather chemical market growth positively. Also, an inclination of consumers towards the use of premium leather is likely to foster the market growth in forecasting period.
As per the Latest report added by Value Market Research, the Global Leather Chemicals Market in terms of revenue was valued USD XX.X MN in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%. By volume, the market was estimated at XX.X KT in 2019 and is expected to reach XX.X KT by 2026 with a CAGR of X.X%.
FINISHING CHEMICALS HAS DOMINATED THE PRODUCT SEGMENT
In 2019, finishing chemicals held maximum share owing to its ability to offer protective coating which enhances the quality of leather. As per the analysis, finishing chemicals are expected to reach USD XX.X million by the end of 2026. Leather finishing chemicals are used to prevent foam formation, pigment floating and cover the natural scratches thus improves the leather quality.
ASIA PACIFIC LED THE REGIONAL MARKET
Geographically, Asia Pacific dominated the market and is presumed to reach USD XX.X million with CAGR X.X% by end of 2026. Rising demand of leather footwear along with booming textile and automobile sector are driving the segment growth. Rising population base along with increasing demand of leather from China and India is further fueling the growth.
MAJOR MANUFACTURERS OF THE MARKET
Key players of the leather chemical market are TC Chemicals, Balmer Lawrie & Co. Ltd., BASF SE, Bayer AG, Chemtan Company, Inc., Elementis Plc, Indofil Industries Ltd., Lanxess AG, Pidilite Industries Ltd., Schill& Seilacher Gmbh& Co., Stahl Holdings B.V., Texapel, Tfl Ledertechnik Gmbh& Co KG, Tytan and Zschimmer& Schwarz & Co KG.
As per this study, the Global Leather Chemicals Market in terms of revenue was valued USD XX MN in 2020 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%. By volume, the market was estimated at XX KT in 2020 and is expected to reach XX KT by 2027 with a CAGR of XX%.
Leather chemicals are a class of compounds which are used in leather manufacturing process. The leather chemicals are necessary for treatment of animal hides for the production of leather. The requirement of these chemicals is confined to different stages of leather processing which involves preparatory stages, tanning, crusting, and finishing. The rise in demand for various leather products such as garments, furniture, footwear, automotive upholstery, and other accessories are propelling the leather chemicals market. Therefore, to strengthen the condition of the leather in term of toughness, glossary, water resistance, lightfastness, and coating, various other leather chemicals are used such as polyurethane resins, acrylic resins, butadiene resins, nitrocellulose lacquers, and others.
Leather is one of the most traded products globally and has various end-user applications. Leather chemicals are primarily employed in the manufacturing of leather as they do not hamper the quality of the fiber in any way, and also help in improving the quality of the leather products. Leather is a flexible and durable textile that is produced through the tanning of animal rawhide and skin, which is often cattle hide in most cases. The most common chemicals used in the processing of leather include biocides, surfactants, degreasers, swell regulating agents, and lime. Leather is employed in a wide range of end-user industries including apparel, automotive, and footwear.
The demand for the leather chemical is majorly driving by the growth of the automotive, furniture, and fashion industry across the globe. Improving the living of standard and rising disposable income rise the demand for premium leather products such as handbags, jackets, and accessories fuels the demand leather market, and consequently, for the leather chemicals market. Moreover, the advancement of technology such as the use of micro & nanoparticles for heat and water resistance further boosts the demand for leather chemicals market. On the flip side, the strict environmental regulations and high manufacturing cost limit the market growth. However, the growing R&D activities for developing eco-friendly leather production solutions creates a huge opportunity for the prominent players over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of leather chemicals.
The broad leather chemicals market has been sub-grouped into product. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Tanning & Dyeing Chemicals
- Beamhouse Chemicals
- Finishing Chemicals
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for leather chemicalsin North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Leather Chemical Market By Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the leather chemicals market includes ATC Chemicals, Balmer Lawrie & Co. Ltd., BASF SE, Bayer AG, Chemtan Company, Inc., Elementis Plc, Indofil Industries Ltd., Lanxess AG, Pidilite Industries Ltd., Schill& Seilacher Gmbh& Co., Stahl Holdings B.V., Texapel, TflLedertechnik Gmbh& Co KG, Tytan and Zschimmer& Schwarz & Co KG.An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developmentswith information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.