Biocides For Leather Market Business Plans, Strategies With Forecasts 2028
Biocides For Leather Industry Overview
The global biocides for leather market size was valued at USD 468.1 million in 2020 and is expected to expand at a compound annual growth rate of 5.0% from 2021 to 2028.
The demand is anticipated to be majorly driven by the increasing usage of high-quality leather products in several industrial applications such as footwear, automotive, apparel.
The biocides for leather is expected to suffer major losses owing to the global outbreak of COVID-19 in the year 2020. Several major leather manufacturing countries majorly hit by the pandemic are India, Russia, Italy, Germany, Brazil, the U.K., and the U.S. The governments in these countries have imposed major lockdowns leading to the temporary closure of major manufacturing units and disruption of trade routes. This led to severe losses for leather industry.
Gather more insights about the market drivers, restrains and growth of the Global Biocides For Leather Market
The global market is estimated to witness a volume-based CAGR of 3.6% from 2021 to 2028. This growth can be attributed to several factors such as the development of technologies for product diversification, high investments in R&D, application expansion, enhanced performance, innovation, and increasing automotive production. Furthermore, mounting demand for bio-based alternative products is expected to provide lucrative opportunities as a result of stringent regulations and environmental standards in several developed regions such as Europe, North America, and others.
Biocides are highly scrutinized by various government agencies such as the Environmental Protection Agency (EPA), the U.S. Evaluation, Authorisation and Restriction of Chemicals (REACH) as, biocides pose an imminent threat to humans, animals, as well as the environment when used above the prescribed limits.
The market is highly regulated by various government authorities and environmentalists worldwide since biocides can degrade the environment as well as animal and human health if used in excess or for a prolonged period. However, with advancements in technology by key multinationals across the globe, in terms of product development and operational efficiency, the demand for biocides is expected to increase for a broad spectrum of applications in the leather industry.
Biocides are used in several stages of the leather production process including curing, wetting, soaking, pickling, tanning, dyeing, finishing, and storage of finished leather. In addition, biocides are used for the sanitization and disinfection of leather production facilities to remove the buildup of harmful microbes in the air.
Browse through Grand View Research’s Disinfectants & Preservatives Industry Research Reports.
- Hydrogen Peroxide Market: The global hydrogen peroxide market size was valued at USD 1.44 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2020 to 2028.
- Biocides Market: The global biocides market size was valued at USD 7.7 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2020 to 2027.
Key Companies profiled:
Some of the prominent players in the global biocides for leather market include:
- Lanxess AG
- Buckman Laboratories International, Inc.
- Vink Chemicals GmbH & Co. KG
- Troy Corporation
- DuPont de Nemours, Inc.
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