India Leather Chemicals Market to Grow with a CAGR of 5.20% through 2029
Surge in research and development activities is
expected to drive the India Leather Chemicals Market growth in the forecast
period, 2025-2029
According to TechSci Research report, “India
Leather Chemicals Market- By Region, Competition, Forecast
and Opportunities, 2019-2029”, the India Leather Chemicals Market stood at USD 488.84 million in 2023 and is anticipated to grow with a CAGR of 5.20% in the forecast
period, 2024-2029. Initiatives taken by government based on leather chemicals has
led to favorable market conditions for the India Leather Chemicals Market.
Several factors contribute to the growth of various leather chemicals products.
The Indian Leather Sector Development Program (IFLDP)
was launched with the aim of bolstering infrastructure development, increasing
production, and facilitating additional investments in the leather sector. This
comprehensive initiative has played a crucial role in driving the growth of the
leather chemicals market by encouraging the expansion of leather manufacturing
units.
Furthermore, the Council of Scientific and Industrial
Research (CSIR) has introduced a game-changing technology that has
revolutionized the Indian leather sector. This innovative technology has not
only helped the sector achieve its set target of USD 27 billion by 2020 but has
also had a significant impact on the leather chemicals industry. By promoting
efficient and sustainable production methods, this technological advancement
has further strengthened the growth and competitiveness of the leather
chemicals market.
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Leather Chemicals Market”
Research and development (R&D) efforts in the
leather industry also prioritize enhancing the quality of leather chemicals. By
focusing on high-quality chemicals, manufacturers can produce superior leather
products that boast exceptional market appeal. These efforts involve continuous
R&D initiatives that aim to create innovative chemicals, ensuring better
colorfastness, enhanced resistance to wear and tear, and improved finishing
techniques for leather goods.
In response to the growing environmental concerns
surrounding the leather industry, there is an increasing demand for
eco-friendly leather production processes. R&D activities play a pivotal
role in the development of sustainable leather chemicals, significantly
reducing the industry's environmental footprint. These initiatives encompass
the creation of biodegradable chemicals, which break down naturally over time,
and the formulation of chemicals that minimize water usage during the leather
tanning process. By implementing these environmentally conscious practices, the
leather industry aligns itself with the global sustainability movement while
continuing to provide high-quality leather products.
The India Leather Chemicals Market is segmented into product,
process type, end user, regional distribution, and company.
Based on its process type, the tanning and dyeing segment
held the largest market share in the forecast period. The extensive range of
operations involved in leather processing includes pickling, degreasing,
tanning, swimming, shaving, retanning, dyeing, fat liquoring, and drying, among
others. Each process plays a crucial role in transforming raw hides into high-quality
leather products. Additional steps, such as neutralization and bleaching, are
carefully implemented based on the specific condition of the tanned hides,
ensuring optimal results, and enhancing the overall quality of the finished
leather goods.
Based on region, West India segment is expected to
grow during the forecast period.
One of the reasons for the dominance of West India in
leather chemical production is its strategic proximity to key raw material
sources. The region enjoys convenient access to crucial inputs like chromium
salts and vegetable tannins, which are essential for the production process.
This advantageous location not only helps in reducing transportation costs but
also guarantees a consistent and reliable supply of raw materials, contributing
to the overall efficiency and sustainability of the industry in the region.
Major companies operating in India Leather Chemicals
Market are:
- Stahl India Pvt. Ltd.
- Lanxess India Pvt. Ltd.
- TFL Quinn India Pvt. Ltd.
- BASF India Ltd.
- Haryana Leather Chemicals Ltd.
- Dadia Chemical Industries Ltd.
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“Growing application of leather chemicals in various
end user industries are key drivers of the leather chemicals market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of leather chemicals with
every passing year are anticipated to register an impressive growth to India
Leather Chemicals Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Leather Chemicals Market
By Product (Biocides, Surfactants, Chromium Sulfate, Polyurethane Resins,
Sodium Bicarbonate, Others), By
Process type (Tanning & Dyeing, Beamhouse, Finishing
Chemicals), By End User (Footwear, Upholstery, Leather Goods, Garments), By Region, By Competition Forecast &
Opportunities, 2019-2029”, has evaluated the future growth potential of India
Leather Chemicals Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Leather
Chemicals Market.
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