1. Increasing Demand from Automotive Upholstery to Drive the Market
Automotive is one of the major sectors, where the demand for leather chemicals has been on the rise. This is particularly due to their requirement in the seat covers of the vehicles. These chemicals are used to stabilize rawhide and prevent further decay and foul odor. The increasing demand for automotive vehicles in the Asia-Pacific region has significantly translated into the growing demand for coating agents in the automotive industry. As the growth continues, the production of automotive vehicles is expected to drive the global leather chemical market in the near future.
2. China to Lead the Leather Chemical Market
China is the largest automotive market in the world. The automotive industry in China is mainly driven by the domestic demand. The footwear industry in China enjoys its status of being the largest producer and consumer of footwear in the world, partly due to the largest market size and also due to the rising standard of living in the country. Additionally, the textile industry in the country has witnessed an increase in the demand for leather, owing to rapid population expansion. The demand for leather from the textile industry is expected to increase further. Therefore, considering the aforementioned factors, the demand for leather chemicals is expected to increase significantly in China during the forecast period.
3. Footwear: One of the Largest End Users
The use of leather chemicals on the leather for footwear application imparts dimensional stability and tolerance to heat and mechanical action. These chemicals are primarily used in shoemaking. Increasing sports-related activity has significantly boosted the market for leather chemicals, globally. Since 2007, sales of athletic wear has increased by 61%, globally. Further growth is expected in this end-user segment in the years to come. Furthermore, leading footwear brands have been heavily investing in R&D in the recent years. Such factors are expected to help reinvent footwear manufacturing, which, in turn, is expected to boost the market for leather chemicals. This segment is expected to grow during the forecast period.
4. Leading Companies
The report also examines the role of the leading market players involved in the industry. Some of the key players listed in the study are:
Balmer Lawrie Co. Ltd
Indofil Industries Ltd
Schill Seilacher GmbH Co.
Stahl International BV
TASA Group International
Zschimmer Schwarz Co KG
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