India Leather Chemicals Market to Cross USD700 million by 2020 Says TechSci Research

Burnaby, Canada, July 05, 2015 --(PR.com)-- Leather chemicals are used during manufacturing and processing of finished leather and various other leather products. According to recently published TechSci Research report “India Leather Chemicals Market Forecast & Opportunities, 2020”, the country’s leather chemicals market is expected to cross USD700 million by 2020. The leather chemicals market in the country is anticipated to grow on account of high demand for basic chemicals in beamhouse operations and increasing adoption of speciality chemicals in leather finishing. Moreover, increasing focus on complying with government norms is one of the major factors boosting the demand for leather chemicals.

The market is broadly classified into three different segments, i.e. beamhouse chemicals, wet-end chemicals and finishing chemicals. Rising demand for fashionable leather products coupled with high exportsis boosting the leather chemicals market in India. The government regulations to reduce the effluent discharge from tanneries is forcing the leather manufacturing to reduce the usage of toxic leather chemicals and add more speciality chemicals in leather manufacturing processes. In addition, local consumer preference towards domestically manufactured goods is increasing due to high product quality and continuing impetus on ‘Make in India’ initiative. Moreover, the leather product exports from India are increasing due to growing demand for superior quality leather goods in international markets.

“In India, specialty chemicals account for the major share in revenue terms in comparison to basic chemicals due to the specific properties imparted to leather by speciality chemicals and their high average selling prices. During the forecast period, consumption of leather finishing chemicals is expected to grow at the fastest rate due to high demand for special properties in leather products. Moreover, the demand for leather chemicals is expected to increase in southern region of India due to the increasing number of tanneries in the region coupled with high production capacity,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Leather Chemicals Market Forecast and Opportunities, 2020” has analyzed the potential of leather chemicals market and provides statistics and information on market sizes, shares and trends. The report would suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the leather chemicals industry in India.