Leather Chemicals Market Growth Rate, Application, Marketing Strategy, and Outlook Analysis to 2022-2031

The Leather Chemicals Market size in terms of value is projected to grow at a CAGR of 7.64% between 2022 and 2031 to reach $7,963.65 million by 2031. Asia-Pacific held the largest share in 2022 with China leading the region. The developing countries such as India, Brazil are expected to grow with high growth rates while the developed countries such as U.S. and Canada are predicted to show a moderate growth. Major growth in the Asia-Pacific region is projected to be from tanning & dyeing chemicals.

The World Integrated Trade Solution (WITS) of the World Bank recorded the United States to be the largest exporter of chemicals in the world, amounting for an export value of about USD 345.65 billion, followed by China with USD 158.75 billion worth of exports.

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Furthermore, there is an ever-increasing demand for chemicals that are more environment-friendly, backed with the imposition of stringent government regulations to control pollution on a global level. It is calculated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2022. On the other hand, estimations also show that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. This in turn, is projected to raise the in-flow of investments by market players for the development of new technologies to manufacture products with reduced toxicity.

The leather chemicals market in Asia-Pacific region is growing fast, mainly due to the shift of leather production from Europe towards Asia-Pacific, which is ultimately driving the leather chemicals market in this region.

New product launch was the most preferred strategy among the major players in the leather chemicals market, globally. The major players are enhancing their technological base, product portfolio, and geographical reach by offering new products to the market. For example, TFL Ledertechnik GmbH (Germany) has introduced a new low sulphide technology, which can be an alternative for chrome-free tanning in the near future.

Many companies offering leather chemicals are actively trying to increase their product portfolio and regional presence to cater to different regional markets. Europe is the second fastest growing market, mainly due to the location of more than half of the leather research centers.

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The major players in the leather chemicals market are BASF SE (Germany), TFL Ledertechnik Gmbh & Co.KG (Germany), Stahl International BV (The Netherlands), Lanxess AG (Germany), Bayer AG (Germany) and Clariant International Ltd. (Switzerland). These companies showed significant presence among other players in the global leather chemicals market.

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