Press release
Leather Chemicals Market to Soar at a CAGR of 6% to 2024
Leather Chemicals Market is set to witness phenomenal gains over the next few years, subject to the product’s extensive usage for belts, footwear, and garments. Leather chemicals possess characteristics such as weather resistance, smoothness, and an aesthetic appearance – in effect, they are used to provide a finesse to the final product and are used in the manufacturing process of numerous goods for furniture, personal care, etc., thereby impelling leather chemicals market size.
Leather Chemicals Market size is poised to surpass USD 10 billion by 2024 and is estimated to witness growth over 6% over the forecast timespan; according to a new research report.
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Elevation construction spending, particularly in the BRIC countries will boost the global leathers chemicals market size by 2024. Leather chemical usage is prominent for the construction business owing to superior leather quality (fine finish, smoothness and gloss) demand. In addition, leather is an essential equipment used in personal protective equipment (PPE) including gloves and shoes. Thus, elevating PPE demand across the globe due to government initiate in order to ensure worker safety will complement the overall leather chemicals market size by 2024.
Highly polluting chemicals in the form of wastewater, sludge, unused chemicals, leached proteins and skin byproducts and high capital involved in leather processing across different stages (tanning, crusting and surface coating) may obstruct the leather chemicals market size by 2024.
Global leather chemicals market share for footwear accounted for more than half of the industry volume in 2016. Escalating global footwear sales primarily due to upgrading consumer lifestyle along with increasing customer spending power over the past few years is analyzed to be the major factor propelling business growth. Leather chemical market size for automotive shall observe growth close to 5% by 2024. The growth in the segment will be particularly due to rising leather demand for interiors (dashboard, seat covers, etc.) in personal cars.
Leather chemical market size from automotive applications will witness a CAGR of 5% over 2017-2024, subject to the rising automotive sector and the high demand for fashionable, aesthetic car interiors. With the rise in the sales of personal cars across the world, the requirement for stylish seat covers and other accessories will witness an incline, which will propel leather chemicals industry from automotive applications.
The automotive sector is currently experiencing a stupendous growth across the APAC region, subject to which leather chemicals market in the Asia Pacific leather chemicals market will witness significant surge over 2017-2024. With a combined contribution of more than 40% toward APAC leather chemicals industry share, China and India are touted to be the major revenue pockets.
Global leather chemicals market size was competitive in 2016, as the major industry competitors had presence across multiple stages of the industry ecosystem and are involved in strategic mergers & acquisitions in order to achieve competitive edge in the business. Major industry contributors are BASF, Bayer, Clariant, Lanxess, Schill & Seilacher, Lawrence International and Zschimmer & Schwarz.
For more information on this report, please visit @ https://www.marketstudyreport.com/reports/leather-chemicals-market/?utm_source=RR&utm_medium=SK
Related Reports: -
Global Leather Chemicals Market Research Report 2017
In this report, the global Leather Chemicals market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geo...
https://www.marketstudyreport.com/reports/global-leather-chemicals-market-research-report-2017/?utm_source=RR&utm_medium=SK
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