Press release
Leather Chemicals Market to See Incredible Growth During 2021
Leather is an unmatched material for making accessory products and item. In order to make the leather for long lasting for use and to create an appealing richness of leather, many leather chemicals are used. Increasing demand for various leather made products such as apparels, footwear, garments, furniture and automotive upholstery positively influence the demand of leather chemicals and helps in further growth of leather chemical market. Innovation in technology such as use of micro and nano particulates for abrasion resistance and improved innovation in chemical compound that offers improved color, look and feel better leather, superior water resistance and improved finish adhesion are expected to drive the leather chemical market across the globe.
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Increasing per capita income of individual, growing consumer affluence, growth in tourism industry are some of the key reason, which leads to increase in the demand of luxury and leather goods items in the market. Fast changing fashion trends and increasing the consumer awareness level about various luxury products further boost the demand of leather goods in the market. Regular innovation and changing design model of various leather and luxury product leads to trigger the demand of leather product in the market. Growing trends towards purchasing of various leather product help to trigger the growth of leather chemical market.
Asia Pacific is the largest market for leather chemicals. Some of the major factor that drives the leather chemical’s success in Indian market in coming years would be its compliance with many international regulations like ISO, REACH, etc. With large number of population in Asia Pacific countries, the demand of various leather products is also on the rise. China produced 4.271 billion pairs of leather shoes in 2011 and the leather shoes market is growing with a CAGR of around 12.4% annually.
The growing rate of leather shoe products helps to boost the leather chemicals market in China and in Asia Pacific region. Increasing disposable income level of individual in North America and Europe further tends people to invest more on purchasing leather luxury products including garments, footwear and others product. The total turnover of retail sale of footwear and leather goods in specialized stores in the U.K. was USD 3,973 million in 2010 and it grew to USD 4,649 million in 2013. This growing investment over leather products and product innovation further helps to boost the leather chemical market in European region.
Some of the companies operating in global leather chemicals market are BASF SE, Lanxess AG, TFL, Clariant Chemicals Ltd., Balmer Lawrie & Co. Ltd., Indofil Industries Ltd., Pidilite Industries Ltd., Schill & Seilacher GmbH & Co., ATC CHEMICALS, Tytan, TEXAPEL, Elementis plc, Zschimmer & Schwarz & Co KG, DyStar, Elementis plc, LANXESS AG, lawrence international, TASA GROUP INTERNATIONAL, Loving Group Ltd., Chemtan Company, Inc. and Stahl International BV.
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