Leather Chemical Market Size US$ 13.2 Bn by 2027

LOS ANGELES, June 11, 2020 /PRNewswire/ -- Acumen Research and Consulting, Announced Research on "Leather Chemical Market Size, Share, CAGR, Trends, Company Analysis and Forecast 2020 to 2027".

The market in North America is expected to account for major revenue share in the global leather chemicals market due to high demand for premium leather from various end use industries such as footwear, automotive, etc. Consumer demand for better quality footwear with various designs is increasing. Their demand for better quality leather with aesthetic look is gaining importance.

In addition, flourishing oil & gas sector in the region, developing government standards is resulting in growing demand for persona protective equipments and wide applicability of leather chemicals in manufacturing of PPE products are among other factors expected to further support the growth of target market in this region.

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Major players approach towards business expansion through strategic merger and acquisitions is expected to further support the growth of target market.

• In 2017, Stahl acquired BASF's Leather Chemicals business that is spread all over Spain with 210 positions and a production. The company is taking over all activities of BASF Leather Chemicals business, which is expected to help the company to enhance its product portfolio and strengthen its position in chemical leather market.

The market in Asia Pacific is expected to witness faster growth over the forecast period due to rising demand for premium leather products. Rising disposable income, changing lifestyle pattern, consumer demand for products such as jacket, wallet, upholstery, shoes, and belt with premium quality is increasing.

In addition, major players approach towards developing economies in order to increase the profit share and enhance the customer base is expected to further support the growth of target market in this region.

• In 2020, Lanxess a German based specialty chemical company is expected to display its wide range of leather chemicals at the India International Leather Fair (IILF) in Chennai. The extensive portfolio for manufacturing leather for shoes, clothing, furniture, and the automotive industry comprises mineral and synthetic tanning agents, preservatives, retaining agents, and fat liquoring agents. This is expected to enhance the customer base and increase the profit ratio.

High government spending on the development of leather industry and emergence of small and mid-size enterprises with innovative products is another factor expected to support the growth of regional market.

• According to National Informatics Centre (NIC) India there are nearly 15000 units engaged in manufacturing footwear in India and it produces 2 billion pairs of different categories of footwear.

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Changing lifestyle pattern, rising demand from consumers for premium quality jacket, wallet, upholstery, etc. is major factor expected to drive the growth of the global market. Consumers are inclining towards adoption of better quality of leather products that has good texture and color. In addition, increasing use of leather chemicals as biocides and surfactants is expected to segment the growth of global market.

However, factors such as stringent government regulations related to product approval and high operational cost are expected to hamper the growth of global market. Government of developing countries has imposed various rules related to environment protection and animal killing. Also consumers demand for products that are cruelty-free is challenging the adoption of leather products. In addition, availability of alternate chemicals is expected to challenge the growth of global market.

Rapid technological advancements and innovative product offerings are factors expected to create new opportunities form players over the forecast period. In addition, major player approach towards developing countries in order to increase the business presence is expected to support the revenue traction of the target market.

The global market is segmented into product, process, and end use. The product segment is bifurcated into biocides, surfactants, chromium sulfate, polyurethane resins, sodium bicarbonate, and others. Among end use the footwear segment is expected to account for major revenue share in the global market.

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Players operating in the global leather chemicals market are BASF SE, Schill+Seilacher Gmbh, TFL Ledertechnik Gmbh & Co.KG, Stahl International BV, Lanxess AG, Bayer AG Clariant International Ltd. Dystar Singapore Pte Ltd., and Stahl Holdings B.V. The competitive scenario is high due to presence of large number of players operating on global level.

Market Segmentation

Market By Product Type

• Biocides
• Surfactants
• Chromium Sulfate
• Polyurethane Resins
• Sodium Bicarbonate
• Others

Market By Process

Tanning & Dyeing

Beamhouse

• Biocides
• Surfactant
• Sodium Sulfide
• Formic Acid
• Others

Finishing

Market By End Use

• Footwear
• Upholstery
• Garments
• Leather Goods

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

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