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Leather chemicals market share from automotive industry to witness 5% CAGR from 2020 to 2026

Author : Ravi Chawat | Published Date : 2020-09-28 

It is estimated that leather chemicals industry share from automotive industry will expand at a CAGR of 5% over the forecast period. Automotive industry is also anticipated to contribute significantly to leather chemicals market growth owing to the massive demand for leather in vehicle interior, such as seat covers, dashboards, etc.

Furthermore, the construction industry is likely to boost leather chemicals market outlook owing to the increasing construction expenditure in BRIC countries. The construction industry exhibits a high demand for superior quality leather with great smoothness, high gloss, and fine finish. Leather is utilized in personal protective equipment (PPE), such as shoes and gloves.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1526

Asia Pacific dominated the regional hierarchy with the majority share in the global leather chemicals market size in the year 2016. The regional market growth is stemmed from the robust production of leather in India and China.  For the record, China and India hold more than 40% of the global leather export in the world.

That being said, North America is also a potential growth ground for leather chemicals industry. The growth can be accredited to favorable government regulations towards the use of PPE in the manufacturing industry. Also, the region has witnessed a heavy demand for leather shoes and gloves, which will proliferate the global leather chemicals market share.

Massive demand for high-quality leather and positive government regulations have prompted leather chemicals market participants to expand their production capacities. They are adopting various business strategies, such as mergers, collaborations, product launches to sustain in the stiff competition. Some of the major market players include Bayer, BASF, Zschimmer & Schwarz, Clariant, Schill & Seilacher, Lanxess, and Lawrence International.

In the current competitive scenario, leather chemicals have been setting the trend in automotive and footwear application portfolios. Changes are being fueled by the need to reduce pollution as traction for chemicals from renewable raw materials has surged in recent years.

Get Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/leather-chemicals-market

With the demand for safe and efficient processes with low impact technologies rising, stakeholders are likely to boost funds in beamhouse chemicals and tanning. Recent trend is being witnessed in biochemicals from fermentation of natural components. In the latest research report by Global Market Insights, Inc., leather chemicals market size has been projected to surpass US$11.42 billion by 2026.

Leather chemicals are a crucial component in the leather making industry and are essential for the processing of raw animal hides and skins to derive final finished products. Based on product type, the leather chemicals market is broadly categorized into various segments including tanning chemicals, beamhouse chemicals, finishing chemicals, and dyeing chemicals.

These leather treatment chemicals have several components acting as fundamental modifiers, which influence various attributes of the leather product including texture, smoothness, color and pattern, among others. Once processed with these chemicals, the final leather is used for the production of various items such as garments, furniture, apparel and footwear, etc.

Browse More News:

https://www.globenewswire.com/news-release/2016/10/18/880265/0/en/Specialty-Chemicals-Market-size-worth-1-273-billion-by-2024-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2018/02/13/1339655/0/en/Thermal-Spray-Coating-Market-worth-13bn-by-2024-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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