Global Leather Chemicals Market to Reach US$ 12.6 Billion by 2028, Propelled by Significant Growth in the Leather Industry

The latest report by IMARC Group, titled “Leather Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global leather chemicals market size reached US$ 8.7 Billion in 2022. Leather chemicals are specially formulated chemicals that help process raw animal hides and skins into finished leather products. They are widely utilized for tanning, dyeing, and finishing during different stages of the leather-making process. Some commonly used leather chemicals include resins, dyes, surfactants, degreasers, vegetable tannin, formic acid, aldehydes, mineral salts, and biocides. They assist in imparting specific properties, such as color, texture, softness, adhesiveness, fullness, roundness, lightfastness, and toughness, to the leather. They also help improve the mold and water resistance properties, prevent the growth of microorganisms that can damage the leather, and remove hair, natural fats, and greases from the hides or skins. As a result, leather chemicals find extensive applications in manufacturing various leather products, including textile, footwear, apparel, and home furnishing.

Global Leather Chemicals Market Trends:

Significant growth in the leather industry represents the primary factor driving the market growth. Besides this, the escalating demand for premium leather clothing and footwear is another major growth-inducing factor. In addition, with the increasing applications of leather in the automotive sector, there has been widespread adoption of leather chemicals, including polymers, fat liquors, and dyeing auxiliaries, for producing automobile interior and upholstery. Along with this, the shifting consumer inclination toward product aesthetics, especially among the younger generation, has augmented the demand for leather chemicals. Furthermore, the leading manufacturers are developing green and bio-based leather chemicals produced using renewable and eco-friendly materials that provide excellent leather performance and help reduce the carbon footprint. In line with this, the growing awareness about the negative environmental impact of synthetic chemicals has accelerated the product adoption rate. Moreover, the surging popularity of high-end leather products, such as wallets, handbags, and other accessories, has propelled the market growth. Other factors, including the widespread availability of raw materials, changing fashion trends, rising sales of luxury vehicles, increasing popularity of fast fashion, elevating income levels, rapid urbanization, improving lifestyles, and product innovations, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 12.6 Billion by 2028, expanding at a CAGR of 5.99% during the forecast period (2023-2028).

Market Summary:

• Based on the chemicals type, the market has been segregated into tanning and dyeing, beam house, and finishing chemicals. 
• On the basis of the product, the market has been divided into biocides, surfactants, chromium sulfate, polyurethane resins, sodium bicarbonate, and others. 
• The market has been classified based on the end user into footwear, furniture, automotive, textile, and others. 
• Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
• The competitive landscape of the market has also been analyzed, with some of the key players being Abhilash Chemicals and Pharmaceuticals Pvt Ltd, BASF SE, DuPont de Nemours Inc., DyStar Singapore Pte Ltd (Zhejiang Longsheng Group and Kiri Industries Limited (KIL)), Eastman Chemical Company, Indofil Industries Limited, Lanxess AG, Pidilite Industries Limited, Schill + Seilacher GmbH, Stahl Holdings B.V., TFL Ledertechnik GmbH, and Zschimmer & Schwarz Chemie GmbH.

Report Scope:

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