Global Leather Chemicals Market: Snapshot
The rising demand for environmentally-friendly chemicals and other products has increased significantly in the last few years. The strict rules and regulations by several governing bodies across the globe is projected to accelerate the growth of the global leather chemicals market in the coming few years.
According to the market research study that has been recently published by Transparency Market Research, in 2013, the global market for leather chemicals was worth US$5.43 bn and is projected to reach a value of US$8.19 bn by the end of year 2020. The market is estimated to register a healthy 6.10% CAGR between 2014 and 2020.
Availability of Raw Materials at Ease to Enhance Market Growth
The growing demand for premium quality leather is considered as one of the key factors estimated to encourage the growth of the global leather chemicals market in the next few years. The easy availability of raw materials and in abundance is predicted to accelerate the growth of the market in the near future. On the flip side, the rising operational costs and the stringent environmental regulatory policies are further projected to restrict the growth of the global leather chemicals market in the next few years. Moreover, the availability of alternatives for hazardous chemicals is likely to hamper the growth of the market in the near future. Nonetheless, the key players are focusing on the emerging economies across Asia Pacific, which is estimated to enhance the growth of the overall market in the near future.
The global market for leather chemicals has been categorized on the basis of product type into finishing chemicals, tanning and dyeing chemicals, and beamhouse chemicals. Among these, the tanning and dyeing chemicals segment is projected to account for a large share of the global market in the next few years. The growing demand for tanning and dyeing chemicals from several developing economies, such as India, Brazil, and China, is projected to enhance the growth of this segment in coming few years. Furthermore, the beamhouse chemicals segment is predicted to hold a significant share of the market and attain the second position in the next few year.
Asia Pacific to Offer Lucrative Opportunities for Market Players
The global leather chemicals market has been categorized on the basis of geography into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. In the last few years, Europe and Asia Pacific held a major share of the global market. The leather chemicals market in Asia Pacific is predicted to hold a major share of the market in the next few years, thanks to the growing demand for leather chemicals. In addition to this, the growth of the footwear and automotive industries is predicted to enhance the growth of the leather chemicals market in the next few years. The developing economies across Asia Pacific is projected to offer lucrative growth opportunities for the market players in the next few years.
The global leather chemicals market is competitive in nature and is projected to witness a high level of competition in the next few years. The presence of a large number of local and global players and the expected entry of new players is estimated to enhance the competitive environment of the overall market in the next few years. The rising focus of the key players on the development of new products is likely to generate potential growth opportunities for the market players in the next few years. Some of the key players operating in the leather chemicals market across the globe are Rock Chemie Co., Stahl Holdings b.v., Schill + Seilacher GmbH, BASF SE, TFL Ledertechnik GmbH & Co. KG, Bayer AG, Heim Leather Chem GmbH, Clariant International Ltd., Elementis plc, Wei Tai Leather Co., Ltd., DyStar Singapore Pte Ltd., and Lanxess AG.
- Tanning & dyeing chemicals
- Beamhouse chemicals
- Finishing chemicals
- North America
- Asia Pacific
- Rest of the World (RoW)