Press release
Leather Chemicals Market Size, Industry Analysis, Key Insights And Forecast To 2033
Leather Chemicals Market Share
As per the report, the leather chemicals market size has grown strongly in recent years. It will grow from $8.87 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The leather chemicals market size is expected to see strong growth in the next few years. It will grow to $12.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Rising Demand For Premium Products Boosts The Leather Chemicals Market
The increased demand for premium products is expected to propel the leather chemicals market. The growing economy and purchasing power of consumers have increased the demand for high-end premium products. Premium products include high-end leather for footwear, apparel, and automotive products, which use leather chemicals for tanning, dyeing, and retaining across various stages of the leather production process. This demand for high-end premium products led to an increase in demand for the production of leather chemicals. For instance, in July 2023, According to ZipDo, a Germany based media company, the luxury fashion sector is projected to achieve a market volume of $429,762 million by the year 2025. Furthermore, in 2022, the online portion of the personal luxury goods market may account for 30% of the global total. Furthermore, in the luxury automotive sector, a press release by BMW (Bayerische Motoren Werke AG), a luxury vehicle company, showed an increase in the sales of premium luxury cars with a growth of 8.4%, with sales of 2,213,795 units showing a rise of 9.1% from 2021. Therefore, the increase in sales of premium products will drive the leather chemical market.
Technological Advancements Drive Innovation In The Leather Chemicals Market
Technological advancement is a key trend in the leather chemicals market. Over the past several decades, the advanced chemicals and solutions industry has played a critical role in industrial development. Extensive research in advanced chemicals, demand for high-performance coatings, and expanding production operations in developing economies are driving the technologically advanced chemical and solution market. The recent market is witnessing the demand for a bio-based leather chemical solution that provides more product functionality, less resource-intensive production, and more efficient use of natural resources. Major companies operating in the leather chemicals sector are focused on developing new bio-based leather chemical solutions to sustain themselves in the market. For instance, in June 2021, Stahl, a Netherlands-based specialty leather chemical manufacturing company, launched Stahl Ympact. It is a leather chemical solution made with renewable feedstocks. These chemical products are produced from biomass feedstock and carbon-captured CO2, which would assist tanneries in reducing their environmental footprint without sacrificing quality or performance.
The leather chemicals market covered in this report is segmented -
1) By Product: Biocides, Surfactants, Chromium Sulfate, Polyurethane Resins, Sodium Bicarbonate
2) By Process: Tanning And Dyeing, Beamhouse, Finishing Chemicals
3) By Application: Footwear, Upholstery, Leather Goods, Garments
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Major companies operating in the leather chemicals market report are Stahl Holdings BV, Clariant AG, TFL Ledertechnik GmbH, Pidilite Industries Limited, Balmer Lawrie & Co. Ltd., Arkema SA, Eastman Chemical India Pvt.ltd., Evonik Industries AG, Saudi Basic Industries Corporation, Dystar Singapore Pte Ltd., Elementis plc, Chemtan Company Inc., Lawrence Industries Limited, Schill Seilacher GmbH, TASA Group International, Zschimmer & Schwarz Co. KG, Indofil Industries Ltd., Papertex Specialty Chemicals Pvt. Ltd., Smit & Zoon BV, BASF SE, Cargill Inc., Koninklijke DSM NV, Lallemand Inc., Novus International Inc., A Schulman Inc., AllChem Corporation, Chemours Company, Dow Chemical Company, Hebei Yida Chemical Industry Co. Ltd., Lanxess AG, Solvay SA, Sumitomo Chemical Co. Ltd., Wacker Chemie AG
Contents of the report:
1. Executive Summary
2. Leather Chemicals Market Report Structure
3. Leather Chemicals Market Trends And Strategies
4. Leather Chemicals Market - Macro Economic Scenario
5. Leather Chemicals Market Size And Growth
…..
27. Leather Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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