Leather Chemicals Global Market Projected to Surpass $13 Billion by 2029
The global leather chemicals market is projected to exceed $13 billion by 2029, growing at a 7% CAGR from $3.783 billion in 2024. Asia Pacific will dominate regionally, with China being the largest country. Key segments by product, process, and application will be polyurethane resins, tanning and dyeing, and footwear, respectively. Growth will be driven by the expanding footwear industry, increased leather manufacturing, luxury product demand, and rising sports activities, presenting significant opportunities in these leading segments.
The global leather chemicals market is forecast to reach over $13 billion by 2029, expanding from $3,783 million in 2024 at a compound annual growth rate (CAGR) of 7%. This market will represent approximately 1% of the speciality chemicals market and 0.2% of the broader chemicals market. Asia Pacific is projected to be the largest regional market, valued at $5,385 million in 2029, with China leading as the largest country at $2,623 million, fueled by growing footwear and sports industries.Segment-wise, polyurethane resins will be the largest product segment, accounting for 33% or $4,351 million by 2029, driven by demand in automotive and electronics for defect detection. Tanning and dyeing will lead the process segments with 54% or $7,055 million, supported by the need for durable and aesthetically appealing leather. The footwear sector will be the dominant application, comprising 46% or $5,989 million, due to global demand for stylish and durable shoes, performance leather, and increased production in Asia.Key growth drivers include the expansion of the footwear industry (contributing 1.8% annual growth), increased leather manufacturing facilities (1.6%), the rising demand for luxury and premium leather products (1.1%), and the growth in sports activities (0.6%). Significant growth opportunities are anticipated in the polyurethane resins, tanning and dyeing, and footwear segments, which are collectively projected to add over $5 billion in market value by 2029, emphasizing high-performance, sustainable, and eco-friendly leather treatment solutions.
