SAN FRANCISCO, July 10, 2019 /PRNewswire/ -- The 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.
Key suggestions from the report:
- 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.
Read 90 page research report with TOC on "Silicone Solutions for Leather & Textiles Market Size, Share & Trend Analysis Report By Application (Textile, Leather), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/silicone-solutions-for-leather-&-textiles-market
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.
Grand View Research has segmented the global silicone solutions for leather & textiles market report on the basis of application and region:
- Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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