• Stacy Lawlor

Global Leather Chemicals Market Size to reach US$ 12.4 Bn by 2028

The Global Leather Chemicals Market Size was valued at US$ 8.3 Bn in 2021 and is projected to reach US$ 12.4 Bn by 2028, at a CAGR of 6.1%.

Global Leather Chemicals Market Size to reach US$ 12.4 Bn by 2028

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Bronzing and dyeing chemicals, beam house chemicals, and finishing chemicals are the three types of leather chemicals that are commonly used. Tanning chemicals are used to convert raw hide to leather. Vegetable tannin, mineral salts, and animal oil are examples of common tanning chemicals. Vegetable tanned leather, synthetic tanned leather, alum tanned leather, aldehyde tanned leather, and chromium tanned leather are the different types of processing chemicals produced for tanning.


COVID-19 ANALYSIS

COVID-19 has had a detrimental influence on the worldwide leather chemicals market due to a decrease in leather manufacturing, logistical service disruptions, and delayed shipments. The global leather chemicals market is negatively impacted with the outbreak of COVID-19. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of leather chemicals, influencing the management of the leather chemicals supply chain. The Airports Council International (ACI) has cautioned that the COVID-19 outbreak's protracted length will have a substantial impact on the region's airport connectivity and economic sustainability, limiting the region's ability to achieve previously estimated growth possibilities. This chain of occurrences is expected to have a negative influence on the growth of the leather chemicals market in the future years.

Global Leather Chemicals Market Size

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Leather wallets, belts, handbags, and other leather accessories are examples of leather items. In comparison to other end-use segments, the amount of leather required for such products is quite low. As a result, the leather products segment's manufacturing demand is predicted to expand at a moderate rate. Leather items require a high amount of tanning and dyeing chemicals, followed by finishing chemicals. Over the forecast period, rising consumer inclination toward product aesthetics, combined with rising demand for luxury leather products, is expected to increase demand for leather chemicals in leather goods. Increased use of leather chemicals such as syntans, polymers, dyeing auxiliaries, and fat liquor has increased due to increased demand for superior quality leather, large quantities of raw materials, an increase in application of leather chemicals in end-use industries such as footwear and textile industries, visually appealing leather footwear, and improved production of leather footwear.


During the forecast period, factors such as rising operational expenses and tight environmental governing tactics are expected to stifle the leather chemicals market's expansion. Furthermore, tanned leather produces wastewater containing sulphides and chromium, which has a detrimental impact on the environment and employees, and is a major factor that is expected to restrain the global leather chemicals market throughout the forecast period.


The tanning & dyeing segment accounted largest market share in 2020 due to dyeing and tanyard operations are the most important stages in the leather-making process, it uses more chemicals for processes spanning from tanning to post-tanning. The footwear segment accounted largest market share in 2020 due to the leather is one of the most extensively utilized components in the footwear business, as a result of which the product's consumption is significant.


Asia Pacific is expected to dominate the market share of global leather chemicals market owing to uninterrupted raw material supply and low-cost labour are two of the most important factors driving market expansion in this area. Increasing disposable income in developing countries like China and India, combined with increased desire for luxury items, has fueled leather demand in a variety of end-use industries, resulting in increased product consumption in the aforementioned countries. Furthermore, companies like TFL Ledertechnik GmbH and Seaton Chemicals Ltd. have a strong presence in the region and can effectively address any demand-supply imbalances. According to IBEF, India is predicted to become a global leader in the automotive industry by 2030, opening up potential for electric and commercial vehicles. The increase in demand is attributed to a rise in middle-class income and an increase in the number of young people.

Global Leather Chemicals Market Size

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Europe is anticipated to emerge as the fastest-growing region over the forecast period. Governments in the region are emphasizing on bio-based, low-cost, and long-lasting products. As a result, the region's demand for sustainably derived and bio-based leather chemicals is predicted to grow. The tanning business in Europe is heavily reliant on raw resources and export. In the future years, rising demand for leather chemicals in the manufacturing of footwear, furniture, automobile interiors, and apparel is likely to drive market expansion.


KEY INDUSTRY DEVELOPMENTS:


June 2021- LANXESS sold their organic leather chemicals to TFL Ledertechnik GmbH, another leading global supplier of specialty chemicals.


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https://www.extrapolate.com/Chemicals-and-Advanced-Materials/leather-chemicals-market/25703

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