A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Finished
Leather Market.
The study, titled “Finished
Leather Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
Leather
is a flexible and durable material manufactured by tanning animal
skin or raw hide. Globally, it is one of the most widely traded
commodities. Leather is mostly produced from cattle skin; however,
lamb and deer skin are also used for the creation of soft leather
which is fairly expensive. Deer skin is used for the production of
indoor shoes and work gloves; but, the production of such leather is
minimal owing to the restriction imposed by governments regarding use
of deer skin. Skins of many other animals such as snake, buffalo
goat, kangaroo, alligator, and yak are used for the production of
leather. The production of leather has noticeable environmental
impact due to the usage and release of chemicals from the leather to
water bodies, increasing biological oxygen demand, and endangering
the lives of humans and animals dependent on the source.
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During
the transformation process, huge amounts of pollutants are released
into the atmosphere. These include gases such as hydrogen sulfide,
which increase global warming levels across the globe. Production of
leather is responsible for the increase in global carbon footprint,
which is defined as the total set of greenhouse emission created by
an event expressed as carbon dioxide equivalent. Finished leather is
used in production of various products such as furniture covers,
shoes, jackets, belts, wallets, trousers, wallpaper, and for
bookbinding.
The
market for finished leather is anticipated to witness moderate growth
during the forecast period. Recent developments and innovations in
terms of design and use of different types of animal skin are the
prime factors augmenting the growth of this market.
Based
on application, the market for finished leather products can be
broadly segmented into the following categories: consumer goods,
commercial goods, and others. Consumer goods segment is further
segregated into footwear, luggage, wallets, belts, jackets, and
accessories. In terms of application, the consumer goods segment held
significant share of the market in 2016 and is anticipated to
continue its position during the forecast period. Increasing
competition among retailers and continuous fragmentation of the
market are factors likely to boost the growth of the consumer goods
segment during the forecast period. In consumer goods, the footwear
segment accounted for prime share of the market in 2016 followed by
the luggage and accessories segment. Efforts undertaken by
manufacturers in terms of innovation and new product design are the
factors accelerating the growth of the footwear segment that will
inadvertently drive the growth of the finished leather market. Rising
population coupled with the increasing disposable income are
potential drivers for growth of this market. However, stringent
government regulations regarding the usage of certain animal skin
(such as deer) for production of leather can hinder the growth of
this market during the forecast period.
Geographically,
Asia Pacific held significant share of the market in 2016 and is
anticipated to retain its position during the forecast period. Robust
leather manufacturing industry in emerging economies of Asia Pacific
such as India and China is the prime reason for the growth of the
finished leather market in this region. The Indian leather industry
accounts for 13% of the world’s leather production. It ranks second
in terms of footwear and leather garments production in the world and
accounts for 9% of the world’s footwear production according to
IBEF (India Brand Equity Foundation). Latin America accounts for
major share of the finished leather market, with the Brazil leather
industry having produced 1832 mn sq ft of leather in 2015. It is the
second largest leather producer after China. North America and Europe
are mature markets and accounted for a small share of the global
finished leather market in 2016.
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Key
players operating in the finished leather market are LANXESS,
American Leather, Inc., and APLF Limited.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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