Leather Glue Demand to Witness a CAGR of Around 5%
According to latest research by Fact.MR, leather glue market is set to witness steady growth during 2021-2031. Demand for leather glue will witness growth in the coming years, owing to the increase in demand for leather products globally.
What is Driving Demand for Leather Glue?
Evolving demand for quick dry adhesive and soak less adhesive for sticking and fixing leather products continue to drive the demand for leather glue. In past few years, the leather industry has grown significantly. Leather manufacturing companies are using leather glue to replace traditional adhesives which soaks in leather after use, as this adhesive sometime damages the leather and increase the loss for manufacturers. Apart from this, wheel and wheel tube manufacturing companies also consume leather glue to fix leakages in tires and wheels.
Additionally, leather glue plays an important role in the footwear industry. Continuously growing footwear industry due to rapid changes in design and new advanced shoes for both formal and sports use has boosted the market in the past few decades. Apart from the change in design and advancement in shoes functionalities, the market is growing significantly due to increase in adaptation of technology in shoes industry. Footwear companies hold the largest share of leather glue followed by other leather product manufacturers. Leather glue helps to fix formal shoe soles with the leather body, and other decorative products used in shoes.
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Covid-19 Affected the Global Leather Glue Sales
Footwear industry has been badly affected globally amid pandemic, as production in the footwear industry was put on hold to avoid the spread of covid 19 virus. For instance, Adidas (shoe manufacturing company) has faced the loss of more than US$ 1 Billion in China, Taiwan & Hong Kong markets, as most of their outlets were shut down in these countries due to the pandemic. Lockdowns further led consumers stay at home, thus procrastinating their shoe purchasing decisions.
All these factors have directly impacted the market growth of leather glue as footwear industry sectors hold a large share in leather glue revenues. Companies are facing issues in the procurement of raw materials like glue and other chemicals from other companies due to the trade and transport restriction between countries.
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Asia Pacific Leather Glue Demand Outlook
Asia Pacific has been the leading market for leather glue globally. A large proportion of shoes worn by world population are manufactured in Asia Pacific. Asia Pacific accounts for more than 20% share of the global leather glue demand.
India and China dominate the market of leather glue in Asia Pacific. Growing footwear industry in India has supported the growth of the leather glue sales. For instance, recently, German footwear brand Von Wellx partnered with Iatric Industries Pvt Ltd. to shift their manufacturing plant from China to India. Von Wellx is expected to generate employment for more than 2000 people and it will produce more than 2.5 million pairs across different segment annually. This will raise the demand for leather glue procurement in India.
Apart, from this, China is leading in footwear manufacturer globally, as it produces more than 30% of world’s footwear. The cheap labor cost and advanced manufacturing technology are helping footwear companies to set up their manufacturing units in China which will directly affect the market growth of leather glue sales.
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North America Demand Outlook for Leather Glue
North America holds the second largest share of leather glue market followed by Europe. United States dominates the North American market of leather glue, as most of the big players of footwear industry come from these countries including Nike, Inc., Under Armour, Inc., Skechers USA, Inc., Kenneth Cole Productions, Inc. and Crocs, Inc., as most of the giant companies of footwear belong to North America the consumption of leather glue is huge, which supports the growth of leather glue products. Apart, from this owing to a high number of purchasing power and growing expenses in personal appearance product driving the footwear industry.
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Who are the Key Manufacturers and Suppliers of Leather Glue?
Some of the leading leather glue manufacturers includes Benson Polymers Limited,
- FAC GB SRL
- RENIA GESELLSCHAFT MBH
- 3M Company
- Gorilla Glue Company
- Megabond (Huangshan) Adhesive Co. Ltd.
- Foshan Madoff Chemical Co. Ltd.
- Shandong Pinguan New Material Co. Ltd.
- CHEMMER ENTERPRISE CO. LTD.
- Changzhou Melic Decoration Material Co. Ltd.
- E.Sadoshima & Co. Ltd
Leather glue Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Resin Type
By End User
- Footwear Industry
- Garment Industry
- Leather Industry
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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