The report "Global Leather Chemicals Market, By Type (Wet-End Leather and Leather Finishing), By Application (Footwear, Furniture, and Automotive), and Region - Global Forecast to 2030" The Global Leather Chemicals Market accounted for US$ 7.91 billion in 2020 and is estimated to be US$ 14.24 billion by 2030 and is anticipated to register a CAGR of 6.1%. Rising demand for leather products in footwear and apparels industries are creating demand for leather chemicals and in turn driving growth of the global leather chemicals market. In addition, rising demand for leather from automotive and aviation sectors to provide aesthetic value to interiors are major factor expected to propel growth of the global leather chemicals market in the near future. Furthermore, rising per capita income of individuals and growth in tourism industry are leading to increase in the demand of leather goods items which is supporting growth of the target market.
Growing investments by key players operating in the market in order to develop eco-friendly leather is expected to create lucrative growth opportunities in the global leather chemicals market. Also increasing number of mergers and acquisitions by the prominent players operating in the target market is creating growth opportunities in the target market.
Key Highlights:
• In October 2017, for instance, Stahl International BV had acquired BASF SE and took over all activities of BASF Leather Chemicals business, including its 210 positions and a production site in Spain.
Key Market Insights from the report:
The Global Leather Chemicals Market accounted for US$ 7.91 billion in 2020 and is estimated to be US$ 14.24 billion by 2030 and is anticipated to register a CAGR of 6.1%. The market report has been segmented on the basis of type, application, and region.
• By type, the leather finishing segment accounted for major revenue share in 2018, owing to its increasing use to improve aesthetic value, texture, and color of the leather.
• By application, the footwear segment is accounted for major revenue share in 2018 due to changing fashion trend and living standard across the globe.
• By region, Asia Pacific leather chemicals market accounted for major revenue share in the global leather chemicals market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well-established leather chemical industries in the countries in the region. The market in North America is expected to account for second-highest revenue share in 2018.
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Links
https://prophecymarketinsights.com/market_insight/Global-Leather-Chemicals-Market-By-501
The prominent player operating in the global leather chemicals market includes BASF SE, TFL Ledertechnik GmbH & Co.KG, Stahl International BV, Lanxess AG, Bayer AG, Clariant International Ltd., Heim Leather Chem GmbH, Dystar Singapore Pte Ltd, Knox Lawrence International LLC, and Pidilite Industries Limited.
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