Trend for tanning systems to be noticeable in leather chemicals market
Selbyville, Delaware, United States, September 5 2020 (Wiredrelease) Global Market Insights, Inc –:In the current competitive scenario, leather chemicals have been setting the trend in automotive and footwear application portfolios. Changes are being fueled by the need to reduce pollution as traction for chemicals from renewable raw materials has surged in recent years.
With the demand for safe and efficient processes with low impact technologies rising, stakeholders are likely to boost funds in beamhouse chemicals and tanning. Recent trend is being witnessed in biochemicals from fermentation of natural components.
In the latest research report by Global Market Insights, Inc., leather chemicals market size has been projected to surpass US$11.42 billion by 2026.
Some of the trends and industry dynamics that are poised to influence leather chemicals market are delineated below:
Trend toward tanning systems
Of late, trend towards the production of environmentally friendly, zero discharge of hazardous chemicals and REACH-compliant products has become more apparent in recent years. Traction for high-end leathers in footwear, garment, upholstery and double-face articles has spurred the confidence of stakeholders eyeing to expand their portfolios.
Trend for tanning system in both chrome and non-chrome tanning systems is likely to be more noticeable as preparation of a tanning and dyeing agent gains traction. Tanning systems are also being used for retaining to impart tremendous fullness to final leather.
Trend for tannage in automobiles will hover around metal-free tanning, while chrome tanning will continue to remain the universal process in the industry.
Growth drivers stemming from an automotive application portfolio
The application of finishing leather chemicals and use of a slew of polymers in the automotive industry will fuel the business outlook. At the time when demand for high-performance vehicles with low emission has skyrocketed, the use of organic tanning systems, lubricating polymers, and water-based finishes may surge.
Traction for fashionable color and surface effects will also augur well for stakeholders eyeing to expand their penetration. Water-based systems and free of restricted substances and the lower add-on will be more noticeable in the next few years.
Opportunities lie in portfolio expansion in untapped markets
The chemical industry has come up with innovative products and application processes, with opportunities in replacing hazardous chemicals with less toxic alternatives. Stakeholders are likely to envisage Asia Pacific as a favorable ground to boost portfolio in untapped markets. Emerging countries such as India, China, Vietnam and Malaysia are witnessing use of leather chemicals in vehicles and garments. Use of chromium tanners may be more pronounced in the region.
Rising purchasing power parity (PPP) in the U.S. indicates increased traction for leather apparels, thereby stimulating the growth of the leather chemicals industry. Besides, stakeholders are buoyed by the fact that the U.S. has the presence of leading companies. Millennial and gen Z population are exhibiting increased traction for footwear with leather finishing.
There are viable growth opportunities in producing leather chemicals with wastewater quality having VOC-free and natural chemicals amid rising concern towards sustainability.
Challenges in the form of toxic nature
Stakeholders have encountered the problem of toxic nature of chromium and rigorous government regulations.
Forward-looking companies have increased their focus on consumer safety and VOC and are emphasizing innovation. Leading companies are expected to boost investment in sustainable solutions, while their projection of automotive and footwear industries fostering leather chemicals market share may hold true.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1526
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]
This content has been published by Global Market Insights, Inc company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at [email protected].
This press release has not been edited by eTurboNews and is published from a syndicated feed.
Click here to post your own press-release on eTurboNews