Transparency Market Research has announced the addition of a new market research report to its vast research report portfolio. The report, which examines the global market for leather chemicals, is titled “Leather Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”The report states that the global leather chemicals market, which had a valuation of US$5.43 bn in 2013, will expand at a healthy 6.1% CAGR over the report’s forecast period and reach US$8.19 bn by 2020.

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Leather chemicals find use across several stages of leather production and processing due to their ability to improve heat resistance, water resistance, flexibility, appearance in the final product. The flourishing growth of the automotive and footwear markets across the globe has been the primary force behind the overall development of the global leather chemicals market for the past few years. This is also expected to be the primary growth driver of the global leather chemicals market over the report’s forecast period. Leather chemical manufacturers have growth opportunities in the form of introduction of safer chemical substitutes for leather processing. The market’s growth is expected to be restrained to a certain extent owing to factors such as strict environmental regulations regarding the use of certain chemicals in consumer goods.

The report segments the global leather chemicals market on the basis of two criteria: product type and geography.

On the basis of product type, the market has been further examined for beamhouse chemicals, tanning and dyeing chemicals, and finishing chemicals. Of these, the segment of tanning and dyeing chemicals accounted for over 40% of the global leather chemicals market in 2013. With the rising demand for leather products such as handbags, garments, and shoes in emerging economies such as India, Brazil, and China, the demand for chemicals used in the process of tanning and dyeing leather is expected to further grow in these regions over the report’s forecast period.

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On the basis of geography, the report segments the global leather chemicals market into North America, Asia Pacific, Europe, and Rest of the World (RoW). Of these, the market for leather chemicals in Asia Pacific dominated the global market by accounting for a share of 40% in the global market in terms of volume. Growth in the footwear and automotive industries in the region is the primary factor leading to the high demand for leather chemicals in Asia Pacific. In addition to this, the rising focus of leather chemical producers on expansion of their production capacities in Asia Pacific due to the high demand for these products, rise in disposable incomes of people living in the region, and favorable economic growth in the region have also led to significant development of the market in the past years. Europe, the second dominant regional market for leather chemicals, exhibits high demand for leather chemicals owing to the presence of several tanneries in the region that engage in raw leather processing activities.

Some of the major vendors in the market are TFL Ledertechnik Gmbh & Co. KG, DyStar Singapore Pte Ltd., Wei Tai Leather Co. Ltd., Elementis plc, BASF SE, Schill + Seilacher GmbH, Rock Chemie Co., Heim Leather Chem. Gmbh, Bayer AG, and Stahl Holdings b.v.

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