New York, USA, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Leather Chemicals Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Leather Chemicals Market Information by Product Type, End-Use, and Region - Forecast till 2028”, the market is estimated to grow at a 6% CAGR to reach USD 11.95 Billion by 2028.
The demand for footwear is surging together with the exploding worldwide population and consumer spending power in developing countries. The dynamics of the footwear industry are changing as a result of people's increasing need for a wide range of footwear in a wide range of designs. The market for leather chemicals is anticipated to develop as a result of the growing usage of leather in the footwear sector. Additionally, the use of leather in the textile industry has been rising recently as a result of the younger generation's evolving fashion preferences. This pattern is anticipated to boost the market's expansion for leather chemicals.
Demand for leather has historically been fostered mostly by the fast-growing upholstery market, which serves the furniture, automotive, and aviation industries. It is often utilized in pricey goods and automobiles. Upholstery is opulent, robust, and easy to care for. It is currently available from reputable manufacturers in small vehicle types. High-performance products are improved by processing the product with the product and additives. The aforementioned factors are predicted to encourage product usage in the automotive sector throughout the course of the forecast period, driving up demand for leather chemicals.
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|Market Size in 2028||USD 11.95 Billion|
|Forecast Units||Value (Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, End-Use, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The growing demand for leather goods in the fashion industry is driving the growth.|
|The growth of the automotive industry is also helping to expand the leather chemicals market.|
Market Competitive Landscape:
Prominent companies in the leather chemicals industry are
- Stahl Holdings B.V. (The Netherlands)
- SCHILL+SEILACHER GMBH (Germany)
- Lanxess (Germany)
- Pulcra Chemicals GmbH (Germany)
- Sisecam Group (Turkey)
- Buckman (US)
- Silvateam S.p.a (Italy)
- TFL Ledertechnik GmbH (Germany)
- Pidilite Industries Limited (India)
- Balmer Lawrie (India)
- QUIMSER, S.A. (Spain)
- Pon Pure Chemicals (India)
- DyStar Singapore Pte Ltd (Singapore)
The establishment of long-term partnerships with end users is a top priority for the major worldwide brands in the fiercely competitive leather chemicals business. In the upcoming years, it is projected that rivalry would intensify because to the continued growth of the footwear, upholstery, and clothing industries. As they are also involved in the manufacture of caprolactam, businesses like Bayer AG, Lanxess AG, Elementis plc, and Chemtan Company Inc. have a high level of integration across the value chain. These businesses have made a name for themselves as leading producers and concentrate on product development and research.
Market USP Covered:
One can expect the mounting demand for premium goods to be a key driver of the market expansion rate. The demand for consumer goods is anticipated to increase as disposable income and population growth in developing economies combine, propelling the product industry. The rapidly expanding upholstery industry, which is used in furniture, cars, and airplanes, has historically been and will continue to be a major driver of leather demand. In expensive furnishings and vehicles, it is widely used. Upholstery is luxurious, durable, and simple to maintain. It is currently offered in small vehicle types from prestigious manufacturers.
Aircraft interiors are another emerging market for upholstery, where high-performance leather makes it a good option for engineers, designers, and cost controllers. Processing the product with the product and additives improves high-performance products. Over the course of the forecast period, the aforementioned reasons are anticipated to promote product usage in the automobile industry, fuelling the market for leather chemicals. As the world's population and consumer spending power rise in developing nations, so does the need for footwear. People now desire a wide variety of footwear in a wide variety of styles, which is altering the footwear industry's dynamics, for the better.
Leather goes through a number of usage-related treatments to make it durable and aesthetically appealing. As they are used more frequently to enhance the aesthetic value, texture, and colour of leather combined with the usage of nanoparticles and microparticles for enhancing water and abrasion resistance as well as better finish adherence, the demand for the product is predicted to increase. The market for leather chemicals is anticipated to increase primarily as a result of rising demand for a number of goods, including footwear, apparel, upholstery for cars and furniture, and clothing.
In light of the rise in environmental concerns with regard to their harmful effects, the demand for leather chemicals is seeing a sharp decline in various economies. The leather industry is quite harmful to the environment since it releases waste that contains toxic materials including lead, sulfur, and chromium. A segment of the economy that is unsustainable is the leather business since it consumes a lot of fresh water.
The other main obstacle to the market for leather chemicals is the decrease in leather production brought on by the fall in the number of animals. After the harvest, improper handling of animal hides and skins also plays a role in this problem. The growth of leather substitutes would consequently hurt the market for leather chemicals.
Browse In-depth Market Research Report (140 Pages) on Leather Chemicals https://www.marketresearchfuture.com/reports/leather-chemicals-market-7856
COVID 19 Analysis
The COVID-19 outbreak's negative impacts include the effects on people's health all across the world. The aftermath has a significant social and economic impact on people all across the world. As the major governments implement new frameworks and industries adopt cutting-edge strategies of expansion to maintain their relevance, people are suffering from a variety of emotional traumas.
The pandemic has had a catastrophic impact on the leather sector because of transit restrictions and lockdowns in the majority of countries. This has led to a decrease in the production of various leather chemicals and materials.
Fatliquors, Tanning, Retanning Chemicals, Finishing Chemicals, Dyeing Products and Beam-house Chemicals are the major products available in the global industry.
The most often used leather chemical is chromium sulfate. By cross-linking the collagen fibers, chromium aids in the stabilization of leather. A recent research found that chrome tanning accounts for nearly 75% of all leather production. Additionally, it guards against the leather's color fading over time.
Beam-house chemicals, Tanning & retaining chemicals, Fatliquors, Finishing chemicals and Dyeing products are the types of leather chemicals sold in the market.
A sizable portion of the worldwide leather chemicals industry is made up of tanning chemicals. Animal hides are prepared for leather production through the crucial process of tanning. Hides are less sensitive to microbial deterioration after chemical tanning.
Footwear, Textile, Upholstery and Automotive are the market end-users listed in the review study.
The largest global user of leather is the footwear sector, which creates a considerable need for leather chemicals. The average yearly global commerce in leather shoes is about USD 40 billion. The industry is anticipated to expand significantly as demand for high-quality leather footwear rises.
The biggest market for leather chemicals is the Asia Pacific. The higher prominence of the leather sector is the cause of this domination. India is the second-biggest exporter of leather apparel and footwear behind China, which is the world's largest producer of leather. In this region, there is a high demand for leather items due to the large population base. The market is anticipated to expand dramatically as people's disposable income increases.
The textile, footwear, and vehicle industries all generate significant demand for leather chemicals in Europe, which is the second-largest market worldwide. The high level of disposable income in this area makes it a successful market for high-end leather items.
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