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Leather Chemicals Market Size is slated to generate considerable revenue over 2019 – 2024

Author : Ronak Bora | Published Date : 2019-05-31 

Leather Chemicals Market size 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.

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.

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Leather chemicals market size from automotive applications will witness a CAGR of 5% over 2017-2024, subject to the rising automotive sector and the high demand for fashionable, aesthetic car interiors. With the rise in the sales of personal cars across the world, the requirement for stylish seat covers and other accessories will witness an incline, which will propel leather chemicals industry from automotive applications.

Finished leather chemicals are primarily used to improve the aesthetic appearance of the leather – these products cover the defects in natural leather, provide protective coatings, and enhances the features of the finished product in terms of smoothness, resistance, glossiness, durability, etc. Subject to this factor, finished leather chemicals market is projected to grow at a rate of 5% over 2017-2024.

Leather processing can actually prove to be harmful for the environment, as material tanning involves the usage of highly polluting chemicals, such as chromium, sulphides, and pathogens, which may restraint leather chemicals market. In addition, excessive costs involved in the actual process in various stages such as crusting, tanning, and coating may also pose as a threat to this market. Leading firms are however, trying to eliminate these constraints by means of reducing the high operational costs and using eco-friendly alternatives for leather processing, which will suitably drive the industry trends.

In 2016, North America leather chemical market size was more than USD 1 billion. The regional growth was mainly due to favoring regulations towards PPE use in manufacturing industries. Furthermore, massive customer base for leather shoes and gloves in the region will complement business growth by 2024.

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In 2016, Asia Pacific market share accounted for a major industry chunk. This massive regional industry size is mainly due to robust leather production in China and India.

Global leather chemicals market size was competitive in 2016, as the major industry competitors had presence across multiple stages of the industry ecosystem and are involved in strategic mergers & acquisitions in order to achieve competitive edge in the business. Major industry contributors are BASF, Bayer, Clariant, Lanxess, Schill & Seilacher, Lawrence International and Zschimmer & Schwarz.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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