Silicone Solutions for Leather & Textiles Market Size, Share, Growth, Trends and Industry Report
by Susan Hill Business ConsultantThe
global silicone solutions for leather & textiles market is
expected to reach USD 760.7 million by 2025, according to a new report by Grand
View Research, Inc. Rising demand for transparent silicone coatings in fabric
manufacturing, owing to their superior properties such as improved durability
as well as water, dirt, & temperature resistance is the key factor for
industry growth.
Continuous
fragmentation and growing competition among retailers are the key factors
anticipated to propel the consumption of leather over the next few years.
Increasing demand for leather in footwear, wallets, luggage, jackets, and belts
is anticipated to spur the market demand for silicone-based chemicals in the
industry.
Furthermore,
silicone is used in various applications including soles, laces, and 3D
printing in footwear industry. With respect to this, increasing efforts by
manufacturers such as Kenneth Cole, Alberto Torresi, Blackberrys, and Louis
Philippe in developing innovative and unique footwear designs are projected to
boost the growth of footwear segment in leather industry. This, in turn, is
likely to drive the silicone market in the leather industry.
Over the
past few years, the manufacturing industry has been increasing expenditure for
the incorporation of good quality safety equipment in shop floors, and utility
operating places. Furthermore, product innovation by companies including 3M and
DuPont for the enhancement of advanced protective clothing catering to the
manufacturing sector is expected to play a crucial role in increasing demand
for silicone in textile industry in the near future.
Continuing
further, technological innovation in terms of the emergence of smart
textile products in the electronics-manufacturing sector as a result of
the capability to implement distinguished technologically advanced operations
including reacting and sensing to the surrounding is likely to remain as a
major factor positively influencing market growth over the next eight years.
Further
key findings from the report suggest:
- In terms of revenue, the leather
segment is projected to ascend at a CAGR of 3.7% over the forecast period
- Textiles application dominated
the global silicone market in textile & leather industry with a global
market share of over 93.5% in 2017
- The U.S. silicone market in
textile & leather industry is anticipated to exceed 20.6 kilotons by
2025
- Significant gains in the automotive
manufacturing sector in emerging economies including China, India, and
Mexico as a result of favorable government schemes aimed to promote
investments is expected to increase the requirement of textile products.
- Asia Pacific had a strong
customer base and accounted for 42.5% of the overall market revenue share
in 2017. Ascending demand for textile and apparel and increased demand for
technical
textiles are factors expected to boost the market growth over the
forecast period. The aforementioned scenario is likely to be reflected in
key countries such as India, China, Japan, and Australia in the coming
years.
- The industry is characterized by
mergers & acquisitions, capacity expansion, distribution &
branding, research & development to improve the market share of
manufacturers
- Some of the key companies present in the industry are The Dow Chemical Company, Wacker Chemie AG, Lanxess, Momentive Performance Materials, Inc., and Elkem ASA, The CHT Group, Arihant Dyechem, Elkay Chemicals Pvt. Ltd., Siltech Corporation, and Shin-Etsu Chemical Co., Ltd.
Access
full research report on global silicone solutions for leather & textiles market:
www.grandviewresearch.com/industry-analysis/silicone-solutions-for-leather-&-textiles-market
Sponsor Ads
Created on Oct 14th 2019 23:18. Viewed 283 times.