To improve water resistance, look, flexibility, or heat resistance, leather chemicals are used at many phases of the leather manufacturing process, including beam house, tanning and finishing, and drum dyeing. Growing consumer wealth, rapidly changing fashion trends, expansion in the tourist sector, and increased consumer knowledge of luxury items are the major drivers driving up demand for different leather-made products such as apparel, footwear, garments, furniture, and vehicles. The Asia Pacific is the largest market for leather specialty chemicals followed by North America due to the large population of the regions.This growth is primarily driven by Need Of Leather Specialty Chemicals at Various Stages of Leather Production, Growing Consumption of Leather Based Products and Need Of Leather Specialty Chemicals for Short Term Preservation of Leather.
Globally, a noticeable market trend is evident Trend Of Various Fashions of Leather Garments. The Specialty Chemicals sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as TFL Ledertechnik GmbH (Germany), Buckman (United States), Stahl Group (Germany), Lanxess AG (Germany), Stahl International BV (The Netherlands), Bayer AG (Germany), Clariant International Ltd. (Switzerland), Schill & Seilacher GmbH (Germany), DyStar Singapore Pte Ltd (Singapore) and Elementis plc (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 1st June 2021, Specialty chemicals company LANXESS completed the sale of its organic leather chemicals business to TFL Ledertechnik GmbH. TFL is a global supplier of leather chemicals and a portfolio company of US investment firm Black Diamond Capital Management, L.L.C. All relevant antitrust authorities have granted the necessary approvals for the transaction, which was announced in August 2020.
According to European REACH regulations, the European tanner who purchases a chemical from a European supplier will be expected to inform the chemical supplier of the chemical's intended use in order to develop a valid, risk-based exposure scenario for the specified application. The EU chemical maker or importer is responsible for the REACH registration of a chemical substance and the significant expenses connected with it. Tanners will only be actively involved in the registration procedure if they are importing chemicals into the EU.
- Need Of Leather Specialty Chemicals at Various Stages of Leather Production
- Growing Consumption of Leather Based Products
- Need Of Leather Specialty Chemicals for Short Term Preservation of Leather
- Trend Of Various Fashions of Leather Garments
- Stringent Government Regulations About Leather Specialty Chemical
Rise Of Automotive Industry Will Increase the Demand of Leather Specialty Chemicals, Growing and Increasing Demand for Sustainable Leather Specialty Chemicals
Some Of the Leather Specialty Chemical May Not Environmentally Friendly and Artificial Alternatives Are Available for The Leather Based Products
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Leather Specialty Chemical Study Sheds Light on
The Leather Specialty Chemical Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Leather Specialty Chemical industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Leather Specialty Chemical industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Leather Specialty Chemical Market?
The Leather Specialty Chemical market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Leather Specialty Chemical Market?
Top performing companies in the Global Leather Specialty Chemical market are TFL Ledertechnik GmbH (Germany), Buckman (United States), Stahl Group (Germany), Lanxess AG (Germany), Stahl International BV (The Netherlands), Bayer AG (Germany), Clariant International Ltd. (Switzerland), Schill & Seilacher GmbH (Germany), DyStar Singapore Pte Ltd (Singapore) and Elementis plc (United Kingdom), to name a few.
3. Which region dominated the worldwide market for Leather Specialty Chemical in 2020?
Asia Pacific is dominating the Leather Specialty Chemical Market.