Leather Chemicals Market: Upholstery Segment Is Anticipated To Witness A CAGR Of 6.5% Over The Forecast Period
Leather Chemicals Industry Overview
The global leather chemicals market size was valued at USD 7.4 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. The demand for the product is anticipated to be driven by increased demand for premium products. Increasing disposable income along with the rising population in developing economies is expected to boost demand for consumer products, driving the product industry. The fast-developing upholstery sector, which finds application in airplanes, furniture, and automobiles, has been a major driver of leather demand in the past and will continue to be in the future. It can be found in abundance in high-end furniture and automobiles. Upholstery is easy to maintain, long-lasting, and opulent. It is already available in small vehicle models from premium brands.
Another developing area for upholstery is airplane interiors in which high performance leather makes it a suitable choice for engineers, designers as well as cost controllers. High performance product are enhanced by processing the product with the product and additives. The above-mentioned factors are expected to increase the consumption of the product in automotive industry, thus propelling the growth of the market for leather chemicals over the forecast period. The demand for footwear is increasing as the world's population grows and consumer spending power grows in developing countries. Individuals now want diverse as well as different styles of footwear, changing the dynamics of the footwear sector.
Gather more insights about the market drivers, restrains and growth of the Global Leather Chemicals market
The product is used to give footwear dimensional strength, endurance to high temperatures, and mechanical action, making it more durable. Integration across the value chain is expected to be a key factor in the market, as most manufacturers strive to reduce costs, necessitating both backward and forward integration. As a result of solid tie-ups at different distribution levels, relationships between manufacturers and suppliers are becoming stronger. Over the projected period, this is expected to be a significant factor for businesses to obtain a competitive advantage.
Leather undergoes various processes involving the use of the product in order to make it long-lasting and give it a rich appeal. The demand for the product is expected to witness growth on account of their increasing use to improve the aesthetic value, texture, and color of leather along with the use of nanoparticles and microparticles for imparting greater water and abrasion resistance as well as better finish adhesion. Rising demand for a wide variety of products such as footwear, apparels, automotive and furniture upholstery, and garments is expected to be the major driving factor for the growth of the market for leather chemicals.
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Leather Chemicals Market Segmentation
Grand View Research has segmented the global leather chemicals market on the basis of product, process, application, and region:
Leather Chemicals Product Outlook (Revenue, USD Million, 2018 - 2030)
- Biocides
- Surfactants
- Chromium Sulfate
- Polyurethane Resins
- Sodium Bicarbonate
- Others
Leather Chemicals Process Outlook (Revenue, USD Million, 2018 - 2030)
- Tanning & Dyeing
- Beamhouse
- Finishing Chemicals
Leather Chemicals Application Outlook (Revenue, USD Million, 2018 - 2030)
- Footwear
- Upholstery
- Leather Goods
- Garments
Leather Chemicals Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some of the prominent players in the leather chemicals market include:
- Stahl International B.V
- Lanxess AG
- Bayer AG
- Elementis plc
- Texapel
- Chemtan Company Inc.
- Lawrence Industries Limited
Order a free sample PDF of the Leather Chemicals Market Intelligence Study, published by Grand View Research.
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