Global Synthetic Leather Market is valued approximately USD 29.13 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.8 % over the forecast period 2020-2027.
Synthetic leather is a type of material that looks like leather but is not made from animal skin. It is also referred as artificial leather. It is widely used in manufacturing many products like footwear, furnishing, automotive, clothing, bags, purses & wallets, and others. The major driver for synthetic leather market is that its manufacturing process is animal friendly.
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For instance, in 2017, Indian Government banned import of exotic skins and certain furs of animals used for manufacturing leather or fur clothing. The other driver that is expected to boost the market growth is the sustainable product launches by the companies and manufacturers. For instance, in 2018, Piatex launched its new sustainable hand bag which is made of leather alternatives from pineapple leaves. However, not enforcing strict laws related to animal welfare along with no penalties in harming animals and toxic raw materials like polyurethane (PU) and polyvinyl chloride being harmful to humans in the manufacturing process of manufacturing synthetic leather impedes the growth of the market over the forecast period of 2020-2027. Also, with the production of synthetic leather from natural fibers and strict regulations by the countries, the adoption & demand for synthetic leather is likely to increase.
The regional analysis of global Synthetic Leather market is evaluated for the regions like such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the growing fashion industry and the increasing young population which is becoming environment-friendly. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2020-2027. Factors such as rising disposable income and developing manufacturing infrastructure would create lucrative growth prospects for the Synthetic Leather market across Asia-Pacific region.
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Major market player included in this report are:
Kuraray Co., Ltd.
H.R. Polycoats Pvt. Ltd.
Alfatex, Filwel Co., Ltd.
Yantai Wanhua Synthetic Leather Group Co., Ltd.
San Fang Chemical Industry Co., Ltd.
Nan Ya Plastics Corporation.
Mayur Uniquoters Limited
Filwel Co. Ltd.
Zhejiang Hexin Industry Group Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027
Target Audience of the Global Synthetic Leather Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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