Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Global Leather Chemicals Market 2022-2027" report has been added to ResearchAndMarkets.com's offering.
Leather Chemicals market size is forecast to reach US$8.7 billion by 2027, after growing at a CAGR of 5.8% during 2022-2027. Leather chemicals are used for processing leather.
The increasing consumption of leather among various end-use industries such as footwear, apparel, automotive, and others is driving the market growth during the forecast period. The changing lifestyle and growing spending levels of consumers in developing nations are the supporting factors driving the market growth.
Leather is used for manufacturing luxury products and interiors. The growing adoption of high-end upholstery leather in luxury cars and growing sales of luxury cars are positively impacting the market growth between 2022-2027. Leather chemicals act as fundamental modifiers for providing color, texture, smoothness, and pattern to the final leather products. However, growing environmental concerns and increasing operational costs of leather products are likely to hamper the market growth during the forecast period.
Key Takeaways
- Asia Pacific is expected to register the highest CAGR of 6.5% during the forecast period (2022-2027). Changing lifestyles, increasing consumer spending, emerging economies, and rapid population growth are the major factors driving the market growth.
- Leather processing is involved in several chemical reactions. The beam house process is the basic process. The chemicals used for the beam house process include cleaning chemicals and degreasing agents.
- The manufacturers are involved in developing advanced chemicals for the leather industry. Leather processing industries are looking for high-quality and environmentally friendly processing chemicals.
Leather Chemicals Market Segment Analysis - By Form
The liquid leather chemicals segments accounted for approximately 60% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. Liquid leather chemicals are widely preferred by leather processing chemicals due to their high-performance properties compared to powder-based chemicals. Liquid-based chemicals are eco-friendly, dust-free and they are easy to handle. Liquid leather dyes are concentrated anionic dye solutions which are free from NMP (N-Methyl-Pyrolidone). Liquid form chemicals are easily soluble in both organic solvents and water and providing flexibility while dyeing leather and aqueous finishes.
Leather Chemicals Market Segment Analysis - By Chemical Type
The chromium sulfate segment accounted for more than 8% of the market share in 2020 and is estimated to grow significantly during the forecast period. Chromium sulfate chemicals are used for tanning applications in the leather industry. Chromium sulfate enhances the softness and flexibility of leather products. Chromium tanned leather products contain 4 to 5% of chromium chemicals, which are tightly bound to the proteins. The majority of leather products such as shoes, bags, gloves are tanned with chromium sulfate. The biocides segment is expected to register a moderate growth rate during the forecast period. Biocides are commonly leather chemicals during storage and transport applications. Biocides protect leather and leather products from damage caused by bacteria and fungi.
Leather Chemicals Market Segment Analysis - By Application
The tanning & dyeing segment accounted for more than 20% of the market share in 2020 and is estimated to grow significantly during the forecast period. The tanning process is involved in treating the skins and hides of animals to produce leather. Tanning processing is used to turn animal hides into durable, supple, and high-quality cuts of leather. The tanning process helps to protect animal skin from decomposition. Oak pit tanning, vegetable tanning, and chrome tanning are the commonly used tanning methods in the leather processing industry. The growing production of footwear and leather products in emerging economies are driving the market for tanning & dyeing application during the forecast period. The most commonly used chemicals in the tanning process include chromium and vegetable tannins. The beam house segment holds the second position in the application segment in terms of share. The beam house processing involved hiding trimming, soaking, fleshing, and unhairing operations. Biocides, surfactants, degreasers, lime, enzymes, and others are the commonly used chemicals in beam house application.
Leather Chemicals Market Segment Analysis - By End-use Industry
The footwear segment accounted for more than 40% of the market share in 2020 and is estimated to grow significantly during the forecast period. The growing population along with the increasing consumer spending on personal needs are boosting the market for the footwear industry. Leather is one of the majorly used raw materials for manufacturing different types of footwear such as shoes, loafers, boots, sandals, and others. Finishing chemicals are widely used leather chemicals in the footwear industry for improving the aesthetic view. According to the data published by Statista, China is leading the global footwear industry in 2019 and the country manufactured more than 13.5 billion pairs of shoes.
Leather Chemicals Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the leather chemicals market in 2020 up to 40%, owing to the presence of multiple leather processing units and tanneries in the region. The presence of developing nations such as China and India is driving the market growth in the region. The rapid growth in population, growing number of working individuals, and growth in income levels are some of the major factors driving the regional market. Abundant raw material sources and availability of workforce also supporting the regional demand. India is one of the major manufacturers of leather globally.
The country produces about 3 billion sq. ft. of leather every year. The growing footwear industry in the region is driving market growth during 2022-2027. India accounts for approximately 11% of the world's footwear production in 2019. These are some of the major supporting factors propelling the market growth in the Asia Pacific region. The European region is expected to hold a significant market share in the global market during the forecast period. The presence of leading lather chemical manufacturers including, Bayer AG, BASF, Laxness AG, Stahl International BV, and others are boosting the regional growth.
Key Topics Covered:
1. Leather Chemicals Market- Market Overview
2. Leather Chemicals Market - Executive Summary
- Key Trends by Form
- Key Trends by Chemical Type
- Key Trends by Application
- Key Trends by End-Use Industry
- Key Trends by Geography
3. Leather Chemicals Market - Comparative analysis
- Market Share Analysis- Major Companies
- Product Benchmarking- Major Companies
- Top 5 Financials Analysis
- Patent Analysis- Major Companies
- Pricing Analysis
4. Leather Chemicals Market - Market Forces
- Market Drivers
- Market Constraints
- Porters Five Force Model
5. Leather Chemicals Market - Strategic Analysis
- Value/Supply Chain Analysis
- Opportunity Analysis
- Product/Market Life Cycle
- Distributor Analysis - Major Companies
6. Leather Chemicals Market - By Form (Market Size -$Million/Billion)
- Powder
- Liquid
7. Leather Chemicals Market - By Chemical Type (Market Size -$Million/Billion)
- Biocides
- Surfactants
- 7.3 Degreasers
- Chromium sulfate
- Swell Regulating Agents
- Lime
- Sodium Sulfide
- Sodium Hydrosulphide
- Caustic Soda
- Soda Ash
- Sodium Formate
- Ammonium Sulphate
- Ammonium Chloride
- Sodium Metabisulphite
- Sodium Metabisulphite
8. Leather Chemicals Market - By Application (Market Size -$Million/Billion)
- Tanning & Dyeing
- Finishing
- Pickling
- Drying
- Deliming and Bateing
9. Leather Chemicals Market - By End-use Industry (Market Size -$Million/Billion)
- Footwear
- Furniture
- Automotive
- Aerospace
- Textile & Fashion
- Saddlery & harness
- Marine
10. Leather Chemicals Market - By Geography (Market Size -$Million/Billion)
11. Leather Chemicals Market - Entropy
- New Product Launches
- M&As, Collaborations, JVs and Partnerships
12. Leather Chemicals Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
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