Sellbyville, DE -- (SBWIRE) -- 04/03/2020 -- As per a comprehensive research report published by Global Market Insights, Inc., leather chemicals market size will touch the $11.42 billion mark by 2026. Leather Chemicals industry has accumulated colossal proceeds on account of their usage in garments, footwear, and belts in recent years. Several advantageous properties of leather chemicals, including weather resistance, durability, and wear & tear resistance have significantly induced product demand in various industries.

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Tanning and dyeing leather chemicals segment to see noticeable growth in the coming year. These chemicals play a vital role in the initial stages of leather processing. They consist of aldehyde tanning agents, low sulfide unhairing agents, chromium sulfate, formic acid, and fungicides. Fungicides are essential to avert fungal growth in skin/hide while formic acids are helpful in lowering the pH value of the skin. Such benefits provided by these chemicals are likely to push the growth of leather chemicals market.

Finishing leather chemicals are used to improve product features, such as durability, weather resistance, smoothness, and wear & tear resistance.

Top Key Players is leading the Leather Chemicals Market

Elementis PLC
Clariant AG
DuPont de Nemours, Inc.
Eastman Chemical Company
Solvay
Asahi Kasei Corporation
Evonik Industries AG
Saudi Basic Industries Corporation (SABIC)
Arkema
LANXESS

Considering the end user backdrop of the market, the footwear segment held more than 50% of the global leather chemicals industry volume in 2018. Consumer lifestyle is transforming along with rising disposable income, which has augmented footwear sales across the globe. For instance, in 2017, the overall shoe production reached over 15 billion pairs. Heightened sale of leather footwear is likely to offer an impetus to leather chemicals market growth in the near future.

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Automotive industry is also anticipated to contribute significantly to leather chemicals market growth owing to the massive demand for leather in vehicle interior, such as seat covers, dashboards, etc. It is estimated that leather chemicals industry share from automotive industry will expand at a CAGR of 5% over the forecast period.

Furthermore, the construction industry is likely to boost leather chemical industry outlook owing to the increasing construction expenditure in BRIC countries. The construction industry exhibits a high demand for superior quality leather with great smoothness, high gloss, and fine finish. Leather is utilized in personal protective equipment (PPE), such as shoes and gloves.

The regional segmentation covers:

o Europe Region Leather Chemicals Market (Germany, UK, France, Russia, Italy, Rest of Europe)
o North America Region Leather Chemicals Market (U.S., Canada, Mexico)
o South America Region Leather Chemicals Market (Argentina, Brazil, Columbia, Rest of South America)
o Asia-Pacific Region Leather Chemicals Market (China, South Korea, Japan, Southeast Asia, India, Rest of Asia-Pacific)
o The Middle East & Africa Region Leather Chemicals Market (UAE, Saudi Arabia, Nigeria, South Africa, Egypt, Rest of MEA)

Asia Pacific dominated the regional hierarchy with the majority share in the global leather chemicals market size in the year 2016. The regional market growth is stemmed from the robust production of leather in India and China. For the record, China and India hold more than 40% of the global leather export in the world.

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That being said, North America is also a potential growth ground for leather chemicals industry. The growth can be accredited to favorable government regulations towards the use of PPE in the manufacturing industry. Also, the region has witnessed a heavy demand for leather shoes and gloves, which will proliferate the global market share.

Massive demand for high-quality leather and positive government regulations have prompted leather chemicals industry participants to expand their production capacities. They are adopting various business strategies, such as mergers, collaborations, product launches to sustain in the stiff competition. Some of the major market players include Bayer, BASF, Zschimmer & Schwarz, Clariant, Schill & Seilacher, Lanxess, and Lawrence International.

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