Leather Chemicals Market to Post 6% CAGR from 2019 to 2024
Leather Chemicals Industry is vast and likely to expand further in near future. This in turn continues to fuel the demand for various types of leather chemicals. These chemicals are used to treat animal skin and fur as well as in further processing of pure leather. The global leather chemicals market stood at USD 6.5 Bn in 2018 and is projected to expand at 6% CAGR from 2019 to 2024.
Leather chemicals finds application across most stages of leather manufacturing, in some cases they are even used post manufacturing. These chemicals are used to develop best-quality leather and to for cleansing purposes. Growing leather demand is the major the driver. The footwear industry accounts for significant percentage of global leather consumption.
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Leather is product that goes out of fashion, its excellent durability and aesthetics are extremely appealing to consumers. Over the years, the production of leather-based products such as garments, shoes and upholstery has increased substantially. Consumption has continued to grow in emerging markets such as China and India. In addition, there growing market for luxury leather products in these countries.
Evolving consumer preference is influencing the demand for luxury and aesthetically appealing for products. Demand for lather-based biker jackets, rain jackets, casual wear jackets continue to grow. The factors have cumulative impact of the global leather chemicals market.
The automotive accounts for a significant percentage of the global leather consumption. Leather is used in seat covers, steering wheels, armrest, dashboards, doors among others. Leather interiors usually boasts the premium class of a luxury car. Chemicals are used to determine shape, colour, texture of the leather components used in vehicles.
Regulatory compliances however remain a significant aspect, strict laws are imposed on use of leather chemicals owing to implication on environment. The chemicals waste released from leather factories populate waterway and cause environmental degradation. Furthermore, use of chemicals also leads to high consumption of water for clearing the chemical off the leather.
MRFR’s report includes a detailed segmental analysis of the global leather chemicals market based on end use, product type and region.
On the basis of end use, the market has been segmented into automotive, upholstery, footwear, textile and others. On the basis of product type, the market has been segmented into tanning & retanning chemicals, dyeing products, beam-house chemicals, finishing chemicals, fatliquors, and others.
Global Leather Chemicals Market: Regional Segmentation
Based on regions, the market has been segmented into the Middle East & Africa (MEA), Latin America, North America, Europe and Asia-Pacific (APAC). Among these, the market in Asia-Pacific (APAC) is expected to witness a strong growth during the forecast period. the leather industry continues to flourish in the region, this is attributed to increasing use of leather in manufacturing products such as footwear, jackets, gloves, shoes, and industrial protective clothing. Several other factors include to the rapid economic growth in countries such as Indian, China and the ASEAN group is supporting the market growth. Demand for luxury leather products is expected to grow at a sound pace during the review period.
APAC is followed Europe, which is the second-most profitable market for leather chemicals. Europe has a leather industry, which caters to industrial protective manufacturing, fashion industry, automobile, aerospace, luxury leather apparel, among others.
Lanxess (Germany), Stahl Holdings B.V. (The Netherlands), Sisecam Group (Turkey), Silvateam S.p.a (Italy), Pidilite Industries Limited (India), Pon Pure Chemicals(India), Pulcra Chemicals GmbH (Germany), DyStar Singapore Pte Ltd (Singapore), Balmer Lawrie (India), Buckman (US), SCHILL+SEILACHER GMBH (Germany), QUIMSER, S.A. (Spain), and TFL Ledertechnik GmbH (Germany) are among key players operating in the global leather chemicals market.
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