Leather Chemicals Market Report with Competitive Analysis & COVID-19 Analysis | Lanxess AG, Clariant AG, Solvay, Arkema SA, Eastman Chemical Company, Evonik Industries AG

As per the report published by Allied Market Research, the global leather chemicals market accounted for $7.5 billion in 2019, and is expected to reach $11.0 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027.

Advantages of chrome-tanned leather and increasing use of leather chemicals in end-user industries such as textile and footwear drive the growth of the global leather chemicals market. However, the environmental impact of leather chemicals hampers the market growth. On the contrary, developments in the tanning industry to minimize the production of chromium content in wastewater are projected to create lucrative opportunities for the market players in the future.

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Covid-19 scenario:
• 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.

The global leather chemicals market is segmented on the basis of type, end user, and geography. Based on type, the market is divided into tanning and dyeing chemicals, beam house chemicals, and finishing chemicals. The tanning and dyeing chemicals segment dominated the market in 2019, accounting for more than two-fifths of the market. However, the beam house chemicals segment is projected to register a CAGR of 6.8% during the forecast period.

On the basis of end user, the market is classified into footwear, furniture, automotive, textile & fashion, and others. The footwear segment held the largest share in 2019, contributing to more than two-fifths of the market. However, the automotive segment is estimated to portray the fastest CAGR of 6.9% during the forecast period.

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.

The global leather chemicals market report includes an in-depth analysis of the key market players such as Lanxess AG, Solvay, Clariant AG, Eastman Chemical Company, Arkema SA, Saudi Basic Industries Corporation, Evonik Industries AG, Elementis PLC, Stahl Holdings B.V., and Indofil Industries Limited.

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