Aug 28, 2017   SOURCE: BusinessWire

Leather Chemicals Market - Top 3 Application Segments by Technavio

According to the latest market study released by Technavio, the global leather chemicals market is expected to grow at a CAGR of more than 4% during the forecast period.

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Technavio has published a new report on the global leather chemicals market from 2017-2021. (Graphic ...

Technavio has published a new report on the global leather chemicals market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Leather Chemicals Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

The global leather chemicals market is growing at a moderate pace because of the increased demand for leather from regions such as the US, Europe, MEA, and countries like China. Leather has high demand from the footwear, apparels, and automotive industries.

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The market research analysis categorizes the global leather chemicals market into three major application segments. They are:

  • Footwear
  • Furniture
  • Automotive sector

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Global leather chemicals market by footwear

The demand for leather chemicals from the footwear industry is rising at a fast rate. In 2016, the segment dominated the market with 46% of the market share. Fashion trends generally have a shorter life cycle, but this is not the case for leather as leather-based products look luxurious and have longer life cycles.

“Leather footwear is widely used by workers working in construction sites and chemicals industries. Owing to its unique properties, leather footwear provides protection. It also offers long product life and better durability. The high durability and long-lasting finish on the footwear is only possible with the application of leather chemicals. Therefore, the growth of the leather chemicals market is directly proportional to that of the leather market,” says Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty chemicals research.

Global leather chemicals market by furniture

The leather chemicals used in the furniture segment have high demand. Leather-based furniture is soft and comfortable and offers long-lasting color and aesthetic appeal. Leather chemicals have a huge demand in this segment, and they are easily available at fewer prices. The chemicals make the leather more durable and increase the lifespan of the leather-based furniture. In 2016, the furniture segment accounted for the second-largest market share of 25.50% of the global leather chemicals market.

“Aniline-dyed leather is preferred in the furniture industry as it is environment-friendly due to the absence of chromium. This helps to reduce the environment pollution by various leather-processing methods. APAC is a major producer of leather furniture globally and has a large consumer base,” says Shakeel.

Global leather chemicals market by automotive sector

The growing demand for automotive industries is driving the growth of the leather market globally. This, in turn, is fueling the demand for leather chemicals. Leather is generally used in the interiors of vehicles for an aesthetic appearance. It is used on the steering wheel, car seats, dashboard, and gear lever.

The increasing automotive sales across the globe is driving the market for leather chemicals as they make it durable, improve the leather quality, and provide a longer life with a luxurious look. The leather seats in the automobile provide high comfortability at affordable prices.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • BASF
  • LANXESS
  • Stahl Holdings
  • Schill+Seilacher
  • TFL

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