Summary
Major players in the leather chemicals market are Stahl Holdings B.V., Clariant AG, TFL Ledertechnik GmbH, Pidilite Industries Limited, Balmer Lawrie & Co. Ltd., Schill+Seilacher GmbH, Elementis PLC, Lanxess AG, DyStar Singapore Pte Ltd., BASF SE, Indofil Industries Ltd., Texapel S.L, Solvay S.A, Chemtan Company Inc., Eastman Chemical Company, Buckman Laboratories International Inc., SilvaTeam s.p.A, Quimser SA, and Pon Pure Chemicals Group.
The global leather chemical market is expected to grow from $8.39 billion in 2022 to $9.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The leather chemicals market is expected to reach $11.35 billion in 2027 at a compound annual growth rate (CAGR) of 5.9%.
The leather chemicals market consists of sales of degreasers, swell regulating agents, lime, sodium sulfide, sodium hydrosulfide, caustic soda and soda ash. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (Inc.luding downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market Inc.ludes related services sold by the creators of the goods.
Leather chemicals are a class of chemical compounds that enhance leather product quality, reduce water consumption during production, and create more efficient process formulations.Leather chemicals are used in the tanning, dyeing, and retaining leather during its multiple uses.
These leather chemicals have different functions and come in preservatives, cleansing and wetting agents, biocides, fat liquors, and dyes.
Asia-Pacific was the largest region in the leather chemcial market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of leather chemicals are biocides, surfactants, chromium sulfate, polyurethane resins, and sodium bicarbonate.Biocides are chemicals or microorganisms used to kill, discourage, render harmless, or control any dangerous organisms through chemical or biological means.
Biocides are manufactured in liquid and powder forms, as ready-to-use formulations or as concentrates. The various processes of leather chemicals are tanning and dyeing, beamhouse, and finishing chemicals that are applied in footwear, upholster, leather goods, and garments sectors.
The Inc.reased demand for premium products is expected to propel the leather chemicals market. The growing economy and purchasing power of consumers have Inc.reased the demand for high-end premium products. Premium products Inc.lude 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 Inc.rease in demand for the production of leather chemicals. For instance, in December 2021, a report published by Bain & Company, a management consulting company, states that, in the luxury market, online sales made up $49.79 billion in 2020, up from $33.54 billion in 2019. Furthermore, in the luxury automotive sector, a press release by BMW (Bayerische Motoren Werke AG), a luxury vehicles company, showed an Inc.rease in the sales of premium luxury cars with a growth of 8.4%, with a sales of 2,213,795 units showing a rise of 9.1% from 2021. Therefore the Inc.rease in the sales of premium products will drive the leather chemical market.
Technological advancement is a key trend in the leather chemicals market.Over decades, the advanced chemicals and solution 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 in the market.For instance, in June 2021, Stahl, a Netherlands-based speciality 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.
In June 2021, TFL Ledertechnik GmbH, a German-based producer of speciality chemicals for the leather industry and related sectors, acquired Lanxess organic leather chemicals (OLC) business for an undisclosed amount. This acquisition will help TFL to Inc.rease its labour capacity and offer a wide range of leather products. Moreover, this acquisition will offer an unparalleled range of high-performing, innovative and sustainable solutions to the leather industry. Lanxess OLC is a German-based speciality chemicals company.
The countries covered in the Leather Chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not Inc.lude revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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