Leather Chemicals Market: A review on recent progress, Chemicals Type, End User, Regional Analysis and Industry Forecast, 2020-2027

As per the latest research report by Allied Market Research, The global leather chemicals market size was valued at $7.5 billion in 2019, and is projected to reach $11.0 billion by 2027, growing at a CAGR of 6.4% from 2020 to 2027. The report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

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Rise in use of leather chemicals in end-user industries and benefits of chrome-tanned leather have boosted the growth of the global leather chemicals market. However, harmful impact on the environment of leather chemicals hinders the market growth. On the contrary, advancements in the tanning industry to reduce the production of chromium content in wastewater would open new opportunities for the market players in the coming years.

By end user, the automotive segment is projected to register the highest CAGR of 6.9% during the forecast period, owing to utilization of eco-friendly leather chemicals for finishing of automotive leather. However, the footwear segment held the lion's share in 2019, accounting for more than two-fifths of the global leather chemicals market, due to rise in population and consumer demand for leather footwear.

By type, the tanning and dyeing chemicals segment dominated the global leather chemicals market in 2019, contributing to more than two-fifths of the market. This is due to its structural difference and ability to enhance the touch of leather and complementing the growth of tanning and dyeing chemicals. However, the beam house chemicals segment is estimated to manifest the highest CAGR of 6.8% from 2020 to 2027, owing to its properties such as high soaking power, improved skin cleaning capability, application of lower amount of sulfides, and others.

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By region, the market across Asia-Pacific, followed by Europe and North America, held the largest share in 2019, contributing to nearly half of the market, owing to rising demand for leather footwear and presence of large number of tanneries. However, the global leather chemicals market across Europe is projected to portray the highest CAGR of 7.0% during the forecast period, due to various business models set up by key players such as entering into international business alliances and formation of boutique units that help to enhance creativity and quality leather products.

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Key findings of the study

Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future estimations from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.

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