Product Code: 61794
The global tanning agents market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, over the forecast period. The major factor driving the growth of the market studied is rapid increase in demand for high quality leather.
- High operational costs and stringent environment regulations are likely to hinder the markets growth.
- Increase in investment of R&D to develop alternate tanning technologies are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Leather Tanning - The Fastest Growing Segment by Application
- The fastest growing application in the scope of the tanning agents market is leather-tanning application. Leather tanning involves treating the skins and hides of skins to produce leather. The process produces soft, durable, and flexible material.
- Various materials are used in the tanning process of leather, most of them are iron, aluminum, titanium, zirconium, and chromium. Of them, chrome tanning is widely employed, owing to its high tensile strength and high temperature shrinkage property.
- Leather is one of the mostly traded materials in the world. The consumption of luxary leather products has increased globally with increasing population and changes in life style trends, which is driving the demand for tanning agents. Raw materials required for leather products have been increasing.
- Leather tanned products are widely used in various end-user industries, such as footwear, packing industry.
- More than 65% of the world's demand for leather is being met by developing economies. There is a need to maintain and improve the aesthetic and functional aspects of leather.
- Owing to all these factors, the market for tanning agents is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific dominated the global market with a share of more than 45%. With growing footwear and personal care industries in countries like China, India, Japan, and South Korea, the consumption of tanning agents is increasing in the region.
- According to the Indian footwear industry report, the footwear production is crossing approximately 22 billion pairs, annually, accounting for around 9.6% of the contribution to the global footwear output. India is the world's third-largest footwear consumer, followed by China and the United States. About 90% of the footwear produced in India is consumed by the domestic market and the rest is exported by the country.
- At present, penetration of personal care products in India is comparatively lower when compared to developed or even other developing economies. However, improving economic environment and increasing purchasing power of the Indian population is expected to increase the adoption of personal care products in the country.
- According to a report published by the Ministry of Economy and Industry, the beauty and personal care (BPC) industry in the country is expected to reach more than USD 10 billion by 2021, at an estimated growth rate of 5%-6% annually. The personal care and cosmetics sector in India is expected to register continuous growth, with increasing shelf space in retail stores and boutiques in India.
- Due to all such factors, the market for tanning agents in the region is expected to have a steady growth during the forecast period.
The tanning agents market is partially consolidated in nature. Some of the major players in the market include BASF SE, LANXESS, Merck KGaA, Leather International, and Clariant AG, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rapid Increase in Demand for High Quality Leather
- 4.1.2 Other Drivers
- 4.2 Restraints
- 4.2.1 High Operational costs
- 4.2.2 Stringent Environment Regulations
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Inorganic Materials
- 188.8.131.52 Chromium
- 184.108.40.206 Zirconium
- 220.127.116.11 Others
- 5.1.2 Aldehyde Tanning Agents
- 18.104.22.168 Formaldehyde
- 22.214.171.124 Glutaraldehyde
- 126.96.36.199 Others
- 5.1.3 Vegetable Tanning Agents
- 5.1.4 Other Types
- 5.2 Application
- 5.2.1 Leather tanning
- 5.2.2 Sun Tanning and Personal Care Products
- 5.2.3 Other Applications
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 India
- 220.127.116.11 Japan
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.3.2 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 5.3.3 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United Kingdom
- 22.214.171.124 Italy
- 126.96.36.199 France
- 188.8.131.52 Rest of Europe
- 5.3.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.3.5 Middle-East and Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 ANGUS Chemical Company
- 6.4.2 BASF SE
- 6.4.3 Chemtan Company, Inc.
- 6.4.4 Clariant AG
- 6.4.5 DyStar Singapore Pte Ltd
- 6.4.6 Ecopell GmbH
- 6.4.7 LANXESS
- 6.4.8 Leather International
- 6.4.9 Merck KGaA
- 6.4.10 SCHILL+SEILACHER GMBH
- 6.4.11 Silvateam S.p.A.
- 6.4.12 Stahl Holdings B.V.
- 6.4.13 TRUMPLER GmbH & Co. KG
- 6.4.14 Viswaat Chemicals Limited
- 6.4.15 VOLPKER SPEZIALPRODUKTE GMBH
- 6.4.16 Zschimmer & Schwarz & Co KG Chemische Fabriken
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increase in Investment of R&D to Develop Alternate Tanning Technologies