Press Release
Chemicals Materials

Synthetic Leather Market Application Estimation, Vendor Competitive Landscape, Trends and Forecast 2019-2025

The elements that have enlarged synthetic leather market trends are economic growth and rising income, as a consequence leading to demand of footwear segment. With that, variations in climatic conditions of every country have triggered manufacturers to produce different types of footwear. There is notable increased athleisure trend as numerous individuals are incorporating athletic shoes in routine and manufacturing of faux leather is cost-effective when compared to footwear made from animal hide which is fueling the demand of footwear and in return higher synthetic leather market.

The global synthetic leather market size has expanded to USD xxxxx Million by the end of 2025, registering an optimistic growth rate of xx.xx% CAGR during the forecast period of 2018-2025.

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Another major application of synthetic leather is furnishing industry. Traditionally, most furnishing activities were accomplished with animal hide which was highly expensive and that is substituted with low-cost element called synthetic leather. This also facilitated manufacturers to manufacture products with varied range of texture, color and fabric look. Ongoing research and development has come up with artificial alternatives for marine furnishing as it is salt water resistant.

Segmentation of geography stretches out the global synthetic leather market into following regions; Asia-Pacific, Latin America, North America, Europe, the Middle East and Africa. Europe and North America are the mature markets for synthetic leather. There are notable regulations placed on animal slaughtering in an effort by various NGOs such as PETA, so that manufacturers adopt environment-friendly materials which has boosted synthetic leather in the region. Likely, other two profitable regions are Latin America and the Middle East for synthetic leather. The reason behind is higher investment from leading automakers such as Renault, Ford and Nissan. However, Africa is least lucrative region as its most countries comes underdeveloped category with lack of skill labor. However, Kenya and South Africa is foretell to have lucrative opportunities of synthetic leather.

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Segmentation of global synthetic leather market on the basis of end-user includes industrial fabrics, footwear, furnishings, garments, automobile, sporting goods, and fashion accessories including bags, wallets and belts. Automobile will at the topmost in terms of generating revenue for end-user industry. According to the statistics, Asia-Pacific is most populated and currently considered most profitable. Asia-Pacific countries like Thailand, China, Vietnam and India are gaining higher traction due to growing population coupled with rising disposable income. Furthermore, collaborations and efforts of ventures towards reducing carbon emission.

The synthetic leather market has competitive landscape, where most prominent manufacturers are SAN FANG CHEMICAL INDUSTRY CO., LTD., Mayur Uniquoters Limited, FILWEL CO., LTD, Alfatex, Yantai Wanhua Synthetic Leather Group Co. Ltd., KURARAY Co. Ltd., Teijin Limited., NAN YA Plastics Industrial Co. Ltd., Zhejiang Hexin Industry Group and H.R. Polycoats Pvt. Ltd. Mayur Uniquoters Limited introduced a new production facility and integrated backward in the value chain. Now, it started knitting synthetic fabric to offer high quality products for global and domestic markets. DuPont, Hanwa Chemical Corporation and Mitsubishi Chemicals Corporation are also found to be leading players of the global market.

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Key segments of ‘Global Synthetic Leather Market’

Based on type, the market has been segmented into,

  • PU-based
  • PVC-based
  • Bio-based

Based on end-user, the market has been segmented into,

  • Footwear
  • Furnishing
  • Automotive
  • Clothing
  • Bags, purses and wallets
  • Others

Based on end-user, the market has been segmented into,

  • North America (U.S., Canada)
  • Europe (Germany, Italy, UK, France)
  • Asia Pacific (China, India, Japan, South Korea)
  • Central & South America
  • Middle East & Africa

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