Global Leather Dyes Market Expanding Applications of Leather to Drive
The global leather dyes market is estimated to expand by exhibiting a CAGR of 5.0% during the forecast period from 2016 to 2023.
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Leather dyes improve the overall appearance of products providing a range of shades such as black leather dyes, red leather dyes, and brown leather dyes. Additionally, the key players try to offer several products to enhance brilliance of the products. Leather dyes are based on alcohol-based leather dyes and spirit-based dyes, which enhances the looks and quality of leather products. Thus, the demand for these dyes is increasing substantially and is likely to benefit market growth.
The ever-expanding leather industry in the developing region of Asia Pacific is expanding owing to robust industrial development coupled with investment for expansion of commercial markets in the region. Due to growing leather industries, the demand and production of leather dyes are driving growth of the global leather dyes market. Additionally, the key players are witnessing vigorous demand for leather apparel, automotive accessories, and footwear; thus, the players are trying to offer these products in variety and with more comfort. This factor is augmenting demand for leather dyes and is driving growth of the global leather dyes market. Additionally, growing attention toward personal aesthetics is driving growth of the leather dyes market. Further, the expanding usage of leather across several industries especially in the automotive industry is fueling demand for leather dyes market.
However, concerns regarding the emission of harmful VOCs from leather dyes an especially from petroleum-based products due to increasing efforts to lower the carbon footprint. This factor is limiting the adoption of the leather dyes and in turn, impacting market growth negatively. Additionally, these dyes are classified under regulations such as Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), which regulate and address its production and chemical substances. Additionally, rising awareness about possible harmful effects over skin and health of person handling these dyes are restraining growth of the global leather dyes market. nonetheless, the demand for natural dyes and vegetable-based dyes is growing, which is estimated to offer opportunities for leather dyes market growth in future.
Competitive Analysis:
Some of the key players in the leather dyes market include Lanxess AG, Clariant International Ltd., BASF SE, Colorex Chemical Co., Inc., Krishna Industries, The Dow Chemical Company, Kolor Jet Chemical Pvt. Ltd., J. K. Colors, Synthesia, a.s, and Prima Chemicals.
Segmentation:
The leather dyes market is segmented on type, application, and region.
By application, the leather dyes market is segmented into natural leather and synthetic leather.
By type, the market is segmented into direct dyes, basic dyes, acid dyes, mordant dyes, sulfur dyes, pre-metalled dyes, and others.
Regional Analysis:
Regionally, the leather dyes market is segmented intoNorth America, APAC, Europe, Latin America, and the Middle East & Africa. Of these, the Asia Pacific region dominated the global leather dyes market owing to the presence of two leading leather manufacturers in the region. India and China are two leaders in leather production, which augments the demand for leather dyes. Additionally, the other countries in the region including Bangladesh, South Korea, and Taiwan, helps to make the region dominant in terms of consumption of leather dyes. Europe stood at the second position in terms of the consumption of leather dyes owing to the presence of leading brands of leather products.
However, Latin America is witnessing the most lucrative growth owing to the huge application of natural as well as synthetic leather in the region. Thanks to these applications, the growth of the leather dyes market is estimated to spur in the coming years.
Industry News:
Recently 2019, one of the key players in the jewelry companies, Tiffany & Co., announced to launch its first men’s collection. This collection includes a range of men’s products such as tie bars, cufflinks, made-to-order rings and watches, and leather goods for men. These products incorporate products and accessories of quality leather. These kinds of product launches are estimated to augment demand for leather dyes and likely to drive market growth in the coming years.
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