Biocides For Leather Market Size, Share & Trends Analysis Report By Product Type, By Process (Curing, Beamhouse, Finishing, Tanning & Dyeing), By Region (North America, Europe, Asia Pacific, Central & South America), And Segment Forecasts, 2021 - 2028
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biocides For Leather Market Size, Share & Trends Analysis Report By Product Type, By Process, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06134850/?utm_source=GNW
Biocides For Leather Market Growth & Trends
The global biocides for leather market size is expected to reach USD 691.8 million by 2028, as per the new report. The market is projected to expand at a volume-based CAGR of 3.6% from 2021 to 2028. The market is driven by evolving consumer lifestyle coupled with rising disposable income is expected to drive the demand for biocides in leather production over the forecast period.
Evolving consumer lifestyle coupled with rising disposable income is expected to drive the demand for leather chemicals in a broad range of applications such as jacket, wallet, upholstery, shoes, and belt among others.The demand from the application is expected to fluctuate depending on changes in seasonality.
Since, leather is one of the maximum used materials for making a variety of goods such as footwear, clothing, automotive seats, purses, jackets, bags, pouches, smartphone covers, dog collars, and belts. The demand for biocides is expected to be driven by the growth in the leather industry, as biocides are majorly used as bactericides and fungicides to avoid the formation of microbes, fungi, and bacteria during several important processing steps.
However, the market is dominated by long-term operating and well-established players with large production capacities.The companies in China are dominating the global market by increasing export across the globe.
However, stringent regulations in the U.S. and Europe are expected to restrain the market growth over the forecast period. Regulatory agencies in countries of Europe, Asia Pacific, and North America have imposed bans on metal-based compounds in the leather manufacturing process on account of their varied ill-effects. As a result, several companies and research institutes are working on producing sustainable and environmentally friendly products for processing.
Several companies in this industry are synthesizing new varieties of biocides from natural ingredients, which offer better performance against microbes such as bacteria, fungi, and viruses as well as do not affect the quality of leather and its products. In addition, companies such as Thor and Vink Chemicals provide customization options to leather producers, for instance, to make biocides in concentrations as per the demand from end customers.
Market players maintain specific R&D departments for the development of new technologies for biocidal production. The R&D initiatives are based on strategies such as reduction in the contamination of the environment and water bodies and development of biocides using biologically controlled chemicals without compromising on the efficiency of biocide application in the leather industry.
Biocides For Leather Market Report Highlights
• Several key manufacturers such as Neogen and Vink Chemicals are backward integrated, thus, involved in manufacturing raw materials, which enables high customization and saves on procurement costs. In addition, these manufacturers get control over the quality of raw materials and cut down the transportation costs
• In terms of volume, the fungicides product segment accounted for prominent share in the market by the end of 2020 and is further expected to witness steady growth over the forecast period
• As of 2020, Asia Pacific accounted for the highest volumetric share in the overall market. The market growth in the region can be attributed to the abundant availability of raw materials and high concentration of leather manufacturers. Low-cost labor is one of the major factors driving the demand for leather chemicals in Asia Pacific
• Manufacturers are increasing their R&D activities on obtaining biocides, which create minimal or less impact on the environment and is anticipated to pave way for higher demand for biocides for the next couple of years
Read the full report: https://www.reportlinker.com/p06134850/?utm_source=GNW
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