Leather Chemicals Market revenue is expected to witness significant growth in the forecast timeframe. leather goods are prominently used across the American sub-continent, owing to which North America market size, worth over USD 1 billion in 2016, will experience a massive surge over the years ahead, subject to the numerous regulations pertaining to PPE market and the manufacturing sector. North America held more than 20% of the total leather chemicals market share in 2016, and will grow at a remarkable pace over 2017-2024, subject to the presence of a huge consumer base for leather gods such as apparel and shoes.
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Asia Pacific leather chemicals market is expected to grow at a robust pace owing to the massive production of leather in India and China. The market growth in North America is attributed to the rising demand for leather apparels and shoes. Finishing chemicals are consumed at a large scale in Europe, owing to the rise in demand of leather apparels, which is expected to boost the market growth.
Rapidly changing fashion trends are also expected to trigger the demand for the product. The consumer awareness about the luxury products has led to a sprouting demand for the product. The wide use of the product for treating animal hides to produce leather is one of the key drivers for the leather chemicals market growth. Focus on premium quality leather textures is likely to drive the market demand.
Leather processing industry is evolving as a major growth avenue for the overall leather market. The rising demand for high quality leather products has led to companies striving to innovate myriad chemicals to enhance finished goods. This will stimulate leather chemicals industry, which was worth USD 6 billion in 2016, is set to cross USD 10 billion, growing at a CAGR of 6% over 2017-2024. The government has also mandated certain norms for the Personal Protective Equipment Market with regards to worker safety. Since this market comprises safety equipment such as leather gloves and footwear, its development will subsequently transform the dynamics of global leather chemicals market.
Government authorities such as European Chemicals Agency (ECHA) has imposed stringent regulations on the use of leather chemicals which can hinder the growth of the leather chemicals market. The detrimental impact of the chemicals on the environment will likely impede the product market growth. In processing of leather, major portion of the chemicals is discharged into the environment. The inflated cost of equipment involved in leather processing can also obstruct the product market.
The upgradation of color fastness standards of dyes has led to an increased demand for the product. The product offers high coloring quality which will fuel the product market growth. Finishing chemicals segment is estimated to experience gains of over 5% during the forecast timespan. Strict emission & environmental norms and organic leather has spurred the demand for leather chemicals. The application of leather chemicals market in automotive sector is anticipated to grow at a decent growth rate of approximately 5% between 2017 and 2024.
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Organic finishing which is free from solvents will lead to a sprouting product market demand. Luxury goods are on the rise which will accelerate the growth of the product industry.
Table Of Content For This Research Report:
Chapter 4. Leather Chemicals Market, By Product
4.1. Leather chemicals industry share by product, 2016 2024
4.2. Tanning dyeing
4.2.1. Market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Beamhouse chemicals
4.3.1. Market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024
4.4. Finishing chemicals
4.4.1. Market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecasts by region, 2013 – 2024
Leather Chemicals Market is set to witness phenomenal gains over the next few years, subject to the product’s extensive usage for belts, footwear, and garments. Leather chemicals possess characteristics such as weather resistance, smoothness, and an aesthetic appearance – in effect, they are used to provide a finesse to the final product and are used in the manufacturing process of numerous goods for furniture, personal care, etc., thereby impelling leather chemicals market size.
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The product market is highly fragmented with several small scale and large scale manufacturers. The key companies operating in leather chemicals market are Lanxess, Clariant, BASF SE, Bayer AG, Elementis PLC, Indofil Industries Ltd., Balmer Lawrie Co. Ltd., Zschimmer Schwarz Co KG, Schill Seilacher GmbH Co., Lawrence International, Chemtan Company, DyStar, Stahl International BV, TASA Group International, TEXAPEL, etc.