The report by Allied Market Research on the leather chemicals market provides a wide-ranging study of the global market size & forecast, region-wise outlook, segmental study, competitive landscape, market opportunities, major drivers, and key industry trends. As per the report, the global leather chemicals industry was exceeded at $7.5 billion in 2019, and is estimated to surpass $11.0 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027.
Leather Chemicals Market growth will be driven by rising use of leather chemicals in end-user industries and benefits of chrome-tanned leather. However, harmful impact on the environment of leather chemicals hinders the market growth. On the contrary, advancements in the tanning industry to reduce the production of chromium content in wastewater would open new opportunities for the market players in the coming years.
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The global leather chemicals market is analyzed across various regions such as North America, Asia-Pacific, LAMEA, and Europe. The market across Europe is estimated to register the highest CAGR of 7.0% during the forecast period. However, the market across Asia-Pacific held the lion’s share in 2019, accounting for nearly half of the market.
By end user, the automotive segment is projected to register the highest CAGR of 6.9% during the forecast period, owing to utilization of eco-friendly leather chemicals for finishing of automotive leather. However, the footwear segment held the lion’s share in 2019, accounting for more than two-fifths of the global leather chemicals market, due to rise in population and consumer demand for leather footwear.
By End User
By type, the tanning and dyeing chemicals segment dominated the global leather chemicals market in 2019, contributing to more than two-fifths of the market. This is due to its structural difference and ability to enhance the touch of leather and complementing the growth of tanning and dyeing chemicals. However, the beam house chemicals segment is estimated to manifest the highest CAGR of 6.8% from 2020 to 2027, owing to its properties such as high soaking power, improved skin cleaning capability, application of lower amount of sulfides, and others.
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- The declining global GDP has changed consumer spending patterns, which decreased the demand for leather chemicals.
- To curb the spread of coronavirus, governments of various countries imposed travel restrictions, which severely affected the supply of raw materials required for the manufacturing of leather. In addition, the lack of labor, disruption of the supply chain, and delayed shipment hampered the production of leather.
- Since the pandemic, export of leather has decreased and reduced the use of leather chemicals for production.
Highlights of the Report
– Competitive landscape of the leather chemicals market.
– Revenue generated by each segment of the leather chemicals market by 2027.
– Factors expected to drive and create new opportunities in the leather chemicals industry.
– Strategies to gain sustainable growth of the market.
– Region that would create lucrative business opportunities during the forecast period.
– Top impacting factors of the leather chemicals market.
Major Market Players
- Lanxess AG
- Clariant AG
- Arkema SA
- Evonik Industries AG
- Eastman Chemical Company
- Stahl Holdings B.V.
- Saudi Basic Industries Corporation
- Elementis PLC
- Indofil Industries Limited.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.