What Factors Propelled The Growth Of The Leather Chemicals Market In The Past?
The leather chemicals market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the leather chemicals market has seen robust growth. The market, which was valued at $9.38 billion in 2024, is projected to escalate to $9.96 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. Factors such as the growth of the leather goods industry, surge in demand for high-quality leather products, prevailing fashion industry trends, changes in urbanization and lifestyle, leather recycling and sustainability endeavours, the rise in leather exports, and enhanced quality control and consistency have all contributed to this historic growth.
What Is the Forecasted Market Size and Growth Rate for The Leather Chemicals Market in the Coming Years?
The Leather Chemicals market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of leather chemicals is anticipated to experience robust growth in the forthcoming years. The market is projected to escalate up to $13.29 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%.
Various factors contributing to the growth during the prediction period include the invention of new leather types, capital investment in leather processing plants, customization in leather finishes, the rise of e-commerce in leather retail, bio-based leather chemicals, and the worldwide expansion of leather supply chains. Key trends expected during this period comprise the use of chromium-free tanning substances, advancements in leather recycling technologies, digitization and intelligent manufacturing, customization and specialty chemicals, developments in leather biotechnology, traceability and transparency, and the use of anti-microbial leather chemicals.
What Factors Are Driving Growth In The Leather Chemicals Market?
The leather chemicals market is expected to surge due to the rising demand for upscale goods. The flourishing economy and the buying power of consumers have amplified the demand for high-end products. Such upscale products include superior quality leather used in footwear, clothing, and auto manufactured goods, and these require leather chemicals at different stages of the leather production cycle for tanning, dyeing, and preservation. This burgeoning demand for luxury products has, in return, heightened the need for leather chemical production. For example, ZipDo, a German-based media corporation, predicted in July 2023 that the luxury fashion industry would reach a market value of $429,762 million by 2025. Moreover, in 2022, it's expected that online sales of personal luxury products would make up 30% of the global total. In the luxury car industry, a recent press release issued by BMW (Bayerische Motoren Werke AG) indicated an 8.4% increase in luxury car sales with 2,213,795 units sold, an uplift of 9.1% compared to 2021. Consequently, the escalating sales of luxury products will stimulate the leather chemicals market.
What Are The Main Segments Of The Global Leather Chemicals Market?
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
Subsegments:
1) By Biocides: Preservatives, Fungicides, Bactericides
2) By Surfactants: Anionic Surfactants, Cationic Surfactants, Nonionic Surfactants
3) By Chromium Sulfate: Basic Chromium Sulfate, Sulfate-Free Chromium Compounds
4) By Polyurethane Resins: Flexible Polyurethane Resins, Rigid Polyurethane Resins
5) By Sodium Bicarbonate: Leather Tanning Agent, PH Regulator
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What Emerging Trends Are Influencing The Growth Of The Leather Chemicals Market?
Prominent entities in the leather chemicals market are capitalizing on strategic alliances to bolster their market footprint and delivers innovative answers to their clientele. Strategic alliances implicate a methodology where businesses employ each other's strong points and assets to secure mutual growth and achievement. For example, in January 2024, Syn-Bios, a chemical plant from Italy, forged a partnership with Pidilite Industries Ltd., an adhesive production establishment in India. The focal point of this collaboration is to elevate Pidilite's product suite in environmentally-friendly leather chemicals. This partnership serves as a key venture for Pidilite, empowering the company to cater to the surging demand for eco-conscious leather goods in South Asia. Utilizing Syn-Bios' proficiency in green chemical solutions, Pidilite is set to solidify its stance in the green market division and comply with international trends towards sustainability.
Who Are the Key Players In The Leather Chemicals Market?
Major companies operating in the leather chemicals market include:
• Stahl Holdings BV
• Clariant AG
• TFL Ledertechnik GmbH
• 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
• AllChem Corporation
• Chemours Company
• Dow Chemical Company
• Hebei Yida Chemical Industry Co. Ltd.
• Lanxess AG
• Solvay SA
• Sumitomo Chemical Co. Ltd.
• Wacker Chemie AG
What Is The Most Dominant Region In The Leather Chemicals Market?
Asia-Pacific was the largest region in the leather chemical market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the leather chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
