Leather Dyes Market Estimated To Boost By 2023 At 5% of CAGR from 2016 to 2023, Asserts MRFR
Market Research Future published a cooked research report on “Global Leather Dyes Market Research Report - Forecast to 2023”
Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. According to MRFR, continuing with the same trends, the global leather dyes market is projected to grow at approximately 5 % CAGR approximately between 2016 and 2023.
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Leather dyes play an important role in enhancing the appearance and durability of leather and its products. These dyes have varied shades and are reasonably priced. Burgeoning leather industry backed by the increasing usages of leather in making of various products such as clothing, footwear, and fashion accessories drives the market growth, driving the demand for leather dyes.
Recognizing the kind of growth, the market is witnessing currently, Market Research Future (MRFR) recently published a study report.
The burgeoning automotive industry also accounts for one of the major contributors to the market growth, perceiving a huge consumption of leather in various products such as seats, seat covers, and other automotive accessories. Leather reflects the exclusivity and luxury nature of the products made with it. Hence, leather is extensively used in making various furnishing & upholstery products and luxury items, which resultantly drive the market growth of luxury dyes invariably.
Additionally, increasing disposable income fuelled by the improving economic conditions worldwide, incentivize people to add value into their house, such as furnishing the home with upholstery and purchasing automotive which may fuel the demand of leather and eventually foster the demand for leather dyes. The cost-effective nature of the product has offered it a greater opportunity to establish itself in major end-uses such as footwear, accessories, and sports.
The processing of these dyes involves the usages of some hazardous substances hence governments have imposed some stringent regulations limiting the use of toxic synthetic materials in the wake of growing ecological concerns. The introduction of these tighter regulations to protect human health and the environment is barricading the growth trajectory of the global leather dyes market.
On the other hand, major companies in the market are focusing on the development of vegan dyes made with all natural products and substances as a major strategy to strengthen their market positions. The development of bio-based products is expected to provide high growth opportunities to leather dyes manufacturers. They are increasingly promoting the assessment of input chemicals through the adoption of manufacturing restricted substances lists (MRSL) and restricted substances lists (RSL). The knowledge gap exists in how to implement hazardous substances control at the factory level.
Through the optimization of the chemical hazardous risk profile at the purchasing stage, the manufacturers can significantly reduce the use of many restricted substances and mitigate against environmental issues. The increased focus on input rather than output chemicals will also allow greater efficiencies to be created, cutting costs through a reduction in the amount of chemicals being discharged into the waste stream. This will also reduce waste treatment and disposal costs. This will further create greater confidence in the manufacturers with the whole supply chain, resulting in their products becoming sought after by potential customers.
Leather Dyes Market – Segmentation:
For the convenience of understanding, MRFR has segmented the report into three key dynamics.
By Types: Comprises Direct Dyes, Acid Dyes, Basic Dyes, Mordant Dyes, Pre-metalled Dyes, and Sulphur Dyes among others (Reactive Dyes etc.).
By Applications: Natural Leather, and Synthetic Leather.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
Global Leather Dyes Market – Regional Analysis
The Asia Pacific is the largest market leather dyes owing to some of the well-developed industries in the region such as automotive, footwear, and furnishing. India, Japan, and China are the leading markets in this region on account of increasing investment in major end-uses of leather.
Also, cities considered as fashion capitals such as Mumbai (India) and Paris (France) account as the major contributors to the market growth attributing to the presence of burgeoning fashion industry in their province that uses leather clothing, and other accessories extensively
Europe follows the Asia Pacific in terms of market size in the global leather dyes market. Major contributors to the growth of Europe are the UK, France, Germany, and Italy. Growing use in footwear and accessories along with some of the major consumers of leather such as the aerospace and automotive industry in this region is driving the growth of the regional market.
North America accounts for one of the promising markets for leather dyes, following the Europe market closely. The US is the largest market in this region owing to the presence of well-established end-use industries of leather such as automotive, aerospace and the sports industry. In the US there is a constant rise in the reconstruction and household revamping activities intended to build sustainable and attractive homes. This is expected to favor the market for leather dyes in the region.
Latin America is witnessing a steady growth of end-user industries in countries namely Brazil and Argentina. The appeasing political and economic scenario in the province would push the market growth forward. In coming years the opportunities for the Middle East & Africa may join the stream with the leading regions due to emerging end-use industries such as furnishing, interior decoration, and sports, which will propel the growth of the regional market.
Global Leather Dyes Market – Competitive Analysis
The global Leather Dyes market appears to be highly competitive and diversified with the presence of many well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players operating in the market.
Given the tighter regulations being introduced to protect human health and the environment, manufacturers of leather dyes are trying to address the issue by introducing effective chemical control systems into their settings. These manufacturers can improve profitability through chemical flow management by reducing the use of restricted hazardous substances. They should find ways to control levels of restricted chemicals used in their set-ups. However, they are finding the process of testing end products to assessing input chemicals easier and advantageous.
Key Players:
The global leather dyes market is led by some of the fervent players including BASF SE (Germany), Lanxess AG (Germany), Clariant International Ltd. (Switzerland), The Dow Chemical Company (US), Colorex Chemical Co., Inc. (US), Krishna Industries (India), J. K. Colors (India), Kolor Jet Chemical Pvt. Ltd. (India), Prima Chemicals (India), and Synthesia, A.S. (Europe). Profiling them in its analysis, MRFR finds out the strategies keep them at the forefront of the market competition.
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Industry/ Innovation/ Related News:
June 05, 2018 – Hugo Boss AG, (Germany), a luxury fashion house and a fashion magnet launched its new 100% vegan, shoe, doubling down on its sustainable fashion initiative. These Menswear shoes are fabricated using Piñatex, a natural-based material made from pineapple leaf fibers and are colored with natural plant-based dyes.
July 02, 2018 - Tandy Leather Factory, Inc. (US), a specialty retailer of a broad product line including leather, leatherworking tools, such as leather dyes and finishes and do-it-yourself kits announced the opening of its new store in Austin in Texas, bringing its total number of stores to 120 globally. The company has taken this expansion decision based on the growing demand for leather-based products and believes that since the new store is located in a bustling shopping center, will allow the company to expand the customer base, growing continuously.
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