Leather Chemicals Market to reach US$8.19 Bn by 2020 Impelled by Growing Automotive and Footwear Demand from Emerging Economies
The growth of the leather chemicals market is directly proportionate to the development of the automotive and footwear industries, states Transparency Market Research in its latest report. The report, titled “ Leather Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 ”, indicates that recording a 6.1% CAGR during the forecast period, the global leather chemicals market is anticipated to rise from US$5.43 billion in 2013 to US$8.19 billion by 2020.Leather chemicals are used in different stages of leather production and help enhance features such as water resistance, appearance, flexibility, and heat resistance. The rapidly developing footwear and automotive markets around the world are the primary forces driving the growth of the leather chemicals market. The introduction of less harmful chemical substitutes holds significant potential for growth, according to the report. However, strict environmental regulations may res...