Global Synthetic Leather (Artificial Leather) Market Size, Share Report Provides, Upcoming Demand, Trends and Industry Analysis 2021 to 2027: Ken Research

The global Synthetic Leather (Artificial Leather) market was valued at 21.54 Million USD in 2020 and will grow with a CAGR of 7.21% from 2020 to 2027, based on HNY Research newly published report.

The prime objective of this report “Global and Regional Synthetic Leather (Artificial Leather) Industry Status and Prospects Professional Market Research Report Standard Version 2021-2027” is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography (North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Artificial leather is a material intended to substitute for leather in fields such as upholstery, clothing, footwear and fabrics and other uses where a leather-like finish is desired but the actual material is cost-prohibitive or unsuitable. The growing demand from the footwear and automotive industry, coupled with cost effectiveness is expected to drive the global synthetic leather market.

By Market Verdors:

Kuraray

San Fang Chemical

Teijin

Mayur Uniquoters

Nan Ya Plastics

Filwel

Zhejiang Hexin

Alfatex

H.R. Polycoats Pvt.

Yantai Wanhua Synthetic Leather

By Types:

PU-based

PVC-based

Bio-based

By Applications:

Footwear

Furnishing

Automotive

Clothing

Bags, purses & wallets

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Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market's competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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Global Synthetic Leather Market Research Report

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COVID Impact on Global Synthetic Leather Market: Ken Research

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Synthetic leather is artificial leather, usually made of polyvinyl chloride (PVC) or polyurethane (PU). It is man-made leather that gives it the look of real leather. This type of leather is dyed & processed to look like pure leather. This leather is also identified as vegan leather, leatherette, faux leather, and leather. Key properties of synthetic leather include durability and resistance to dye & weather. It is mainly used for products that require a leather-like texture such as in automotive interiors, interior designing, upholstery, footwear, garments, and furnishing.

As per analysis, “Global Synthetic Leather Market by Type (Polyurethane (PU), Polyvinyl Chloride (PVC), Bio-based); By Application (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, Sports, Electronics and Others); and Region – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” the key companies operating in the global synthetic leather market include Zhejiang Hexin Industry Group Co. Ltd, Nan Ya Plastics Corporation, Yantai Wanhua Artificial leather Group Co. Ltd, DuPont Tate & Lyle Bio Products Company, Mayur Uniquoters Limited, H.R. Polycoats Pvt. Ltd, Alfatex Italia SRL, Toray Group, San Fang Chemical Industry Co. Ltd, Teijin Limited, Kuraray Co. Ltd and among others. Major companies use strategies for instance joint ventures, mergers & acquisitions (M&A), expansion of production capacity and development of new products to boost their sales & their market share.

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By type, synthetic leather market can be segmented as Polyvinyl Chloride (PVC), Polyurethane (PU) and bio-based. In addition, by application type, market can be segmented as clothing, sports, footwear, bags, electronics, purses & wallets, furnishing, automotive and others.

Rise in demand from footwear industry, followed by growth in population and cost effectiveness & advantage over pure leather are some major factors, which are responsible for growth of the synthetic leather market. Apart from this, availability of other artificial fibers with similar cost and adverse effect on human health due to processing of Polyurethane (PU) or Polyvinylchloride (PVC) in the synthetic leather manufacturing process are major hindering factors for market. Additionally, rise in demand for lightweight leather in automotive industry, change in fashion statement and rise in disposable income in emerging countries are leading opportunities for market. Moreover, rise in demand for low-cost versatile leather products is a key trend for global market. Furthermore, effect on trade activity due to slowdown in global economy and lack of durability limits its applications are major challenge for market.

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Based on regional analysis, the Asia-Pacific is a leading region in global synthetic leather market owing to high demand for synthetic leather in the automotive, clothing, footwear, and furnishing industries across the region. The North-America and Europe regions are estimated to witness higher growth rate due to rise in awareness regarding animal rights and growth in demand from footwear industry over the forecast period. It is predicted that future of the global synthetic leather market will be bright on account of increase in stringency of regulations pertaining to animal welfare during the forecast period.

Related Report: -

Global Coating Agents for Synthetic Leather Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

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Rise in Demand from Footwear Industry Expected to Drive World Synthetic Leather Market over the Forecast Period: Ken Research

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Synthetic leather is a man-made artificial leather which looks like natural leather, also known as faux leather. Synthetic leather is marketed under numerous names such as vegan leather, faux leather, leatherette, and pleather. Its surface is treated & dyed with certain additives to provide them an ordinary look just as natural leather. It is often used as a substitute for real leather as it is less costly and does not require any real animal hide. It is available in various colors, leading to them being used in a wide number of industries for instance footwear, garments, automobile, and fashion accessories such as wallets, bags, etc. The key properties are easy maintenance, high strength, UV resistance and more ductile & high gloss finish.

According to study, “World Synthetic Leather Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world synthetic leather market are Kuraray Co. Ltd., Bayer, Toray, Sappi, Favini, Asahi Kansei Corp., DAEWON Chemical, Ducksung, Teijin Ltd., Filwel Co. Ltd., Kolon, Nanya Plastics Co. Ltd., Sanfang, Anhui Anli, Wenzhou Imitation Leather, Shandong Jinfeng, Fujian Tianshou, Shandong Tongda, Yantai Wanhua, Kunshan Xiefu, Jiaxing Hexin, Wenzhou Huanghe, H.R. Polycoats Pvt. Ltd., Gruppo Mastrotto S.p.A., DuPont Tate & Lyle Bio Products, Huafeng Group, Xiamen Hongxin, Meisheng Industrial, Sanling, Fujian Huayang, Shandong Friendship, Mayur Uniquoters Limited, Hongdeli, Wenzhou Longxing, Wangkang Group, Zhejiang Hexin Industry Group Co. Ltd., Wenzhou Huadu, Kaishili, Hebei Changan, Benecke Kaliko, Vulca Flex, Canadian General Tower, Hornschuch, Om Nova.

Based on type, synthetic leather market is segmented into Polyvinylchloride (PVC) based synthetic leather, Polyurethane (PU) synthetic leather (microfiber leather) and bio-based leather. PU holds major share in market owing to its superior quality & ban on PVC based leather in a few countries. Based on application, market is segmented into clothing, shoes, bags, accessories, purses & wallets, belts, car interiors, sports goods and others (upholstery and gloves). In addition, based on end-user, market is segmented into footwear, automotive (seats, door trim, steering wheel covers, knob and gear bot covers), textile, furniture (chairs, bean bags, sofa, and others), sports, electronics, and others. Footwear industry is expected to witness lucrative growth due to increase in demand for comfortable & designer footwear during the forecast period.

The synthetic leather market is driven by surge in awareness & importance about animal cruelty, followed by growth in development of e-commerce sector, rise in disposable income, increase in awareness toward advantages of synthetic leather over natural leather, growth in demand for luxury goods, and rise in demand from footwear industry. However, harmful effects of PU & PVC and high tax & import duties may impact the market. Moreover, rise in focus on development of bio-based synthetic leather is a key opportunity for market.

Based on geography, Japan country holds major share, followed by China and India in synthetic leather market owing to increase in consumption of the product in bags, upholstery, footwear, & automobile covers and growth in consumer awareness by many animal right activist groups regarding animal slaughtering in the country. USA country is expected to witness higher growth rate due to stringent government regulations, high consumption in clothing & automotive industries and robust animal rights movement over the forecast period. Additionally, Europe region also expected to witness substantial growth on account of well-established end-use industries during the forecast period.

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Global Synthetic Leather Market

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Ankur Gupta, Head Marketing & Communications

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