Leather chemicals market is expected to show significant growth over the forecast period owing to the increasing demand for leather products particularly in the apparel, furniture, footwear and automobile industries. Increasing innovations in chemical compounds which improve the properties of leather and introduction of nano & micro particles for scratch resistance is expected to drive the market growth. High availability of raw materials is anticipated to spur the demand for leather chemicals over the next seven years. Moreover, changing fashion trends and rising demand for luxury products is expected to boost the market growth.
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Furthermore, rising per capita income of consumer and change in consumer preferences towards leather products is expected to propel market growth. Asia Pacific is expected to contribute substantially to market growth owing to recent economic growth along with rising disposable income particularly in China and India on account of growth in automotive, footwear and apparel industries. Moreover, rapid industrialization and urbanization in this region is expected to spur market growth over the forecast period. Europe is anticipated to grow significantly pertaining to the presence of several tanneries in this region. Latin America is expected to show reasonable expansion owing to lower demand for premium leather products along with moderate growth in automotive industry. However, strict policies and regulations with respect to the undesirable effects of leather chemicals from agencies including REACH (Registration, Evaluation, Authorization and Restriction of Chemical substances) and EPA (Environmental Protection Agency) are expected to restrain the market growth over the forecast period. Moreover, usage of hazardous raw material such as chromium in production of leather chemicals is expected to restrict market growth as it causes kidney & liver damage, respiratory disorders, lung cancer and weakened immune system. Furthermore, increasing leather substitutes across various industries along with rising leather production costs is expected to pose a challenge for market growth over the forecast period.
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Global key players include BASF, Clariant Corporation, TFL, Stahl Holdings B.V, Elementis, Chemtan, Zschimmer & Schwarz, Lanxess, KemiaTau, Dystar Singapore Pte Ltd., Dr. Leather, Schill+Seilacher GmbH and Thana Acid and Chemical Co. Dr Leather offers various technologies including abrasion resistance, anti-microbial technology, athletic upper leather chemicals, baseball leather chemicals, thermal camouflaging technology, cricket ball leather chemicals, fire retardance leather chemicals, oil & waxy leather chemicals, PWR gloving technology, gloving leather chemicals, hyperfast dyeing technology and machine washability technology. Various R&D activities is being done for developing eco-friendly leather production techniques and substitute chemicals by numerous organizations which is expected to provide vast opportunity of market growth over the forecast period.
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