The global Leather Chemicals Market size is expected to reach USD 14.56 billion by 2028 at a CAGR of 7.5% over the forecast period, according to a latest report by Reports and Data. Global leather goods market revenue growth rate has been increasing rapidly as a result of increasing disposable income and increased demand for leather goods globally. Leather as a raw material for various products lasts longer, is comfortable, and more aesthetically appealing than products made using synthetic materials. Introduction of newer technologies and machinery for deployment in leather goods manufacturing has enhanced efficiency of various hide curing and tanning processes. This is also providing major advantages in production and output and is expected to drive growth of the leather chemicals market. Implementation of more stringent environmental regulations is resulting in an increasing number of leather chemicals manufacturers investing in technologies that enable compliance and also enable more efficient production. E-commerce distribution outlets have also opened up more opportunities for growth among players in the leather goods industry, as well as for the leather chemicals manufacturers.
However, usage of these chemicals require high volume of water for various processes, has high toxicity, releases carbon and waste, and high content of heavy metals and phthalates can pose a serious environmental hazard. These are some major factors expected to restrain market growth to some extent.
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Some prominent players in the leather chemicals market include Bayer AG, Lanxess AG, Elmentis Plc, Stahl International B.V., Texapel, Chemtan Company, Inc., Lawrence Industries Limited, and Zschimmer Schwarz GmbH Co KG Chemische Fabriken.
Some Key Highlights from the Report
- TFL Ledertechnik GmbH reportedly purchased Lanxess AG's organic leather chemicals company in August 2020. TFL is a global supplier of leather chemicals and a portfolio company of Black Diamond Capital Management, L.L.C., which is a US investment firm.
- Polyurethane resins segment accounted for majority revenue share in 2020, and is expected to register a rapidly inclining growth rate during the forecast period. Polyurethane resins are used as a base for a wide range of finishing products, such as lacquers and dry coatings.
- Chromium sulphate is commonly used in the leather industry for the dyeing process.
- Pre-treating agents, dyeing auxiliaries, buffers, cleaners, and neutralizers are popular uses for sodium bicarbonate in tanning operations.
- Tanning and dyeing chemicals segment accounted for largest revenue share in the market in 2020, and this trend is expected to continue during the forecast period.
- In 2020, the beamhouse segment among the process segments accounted for second-largest revenue share in the market. Biocides, surfactants, degreasers, lime, sodium sulphide, formic acid, sulfuric acid, and enzymes are among the chemicals used in leather production procedures.
- In 2020, the footwear segment among the end-use segments accounted for majority revenue share.
- In 2020, Asia Pacific registered fastest revenue CAGR, which can be attributed to major manufacturers deploying manufacturing facilities in countries in the region, as a result of more favorable regulations, availability of raw materials, and comparatively lower labor costs.
- Europe, which is dominant in clothing, automotive, and consumer appliances, is expected to account for a significantly high revenue growth rate in the near future.
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Outline of the Leather Chemicals Market Segmentation:
For the purpose of this study, Reports and Data has segmented the global leather chemicals market report on the basis of product, process, end-use, and region:
Product Outlook (Revenue, USD Million, 2018 - 2028)
- Chromium Sulfate
- Polyurethane Resins
- Sodium Bicarbonate
Process Outlook (Revenue, USD Million, 2018 - 2028)
- Tanning Dyeing
- Sodium Sulfide
- Formic Acid
End-use Outlook (Revenue, USD Million, 2018 - 2028)
- Leather Goods
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Highlights of the TOC:
Chapter 1: Methodology Scope
Chapter 2: Summary of the Leather Chemicals Market
Chapter 3: Insights into Leather Chemicals Industry
Chapter 4: Regional Analysis
Chapter 5: Company profiles
And Many More.
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