Synthetic Leather Market to Showcase High Growth; to cross USD 46.4 BN Mark by 2026
Posted On March 23, 2020
Value Market Research has conducted a research on the Global Synthetic Leather Market in which it is expected to grow in the coming years from USD 28.5 BN in 2019 to USD 46.4 BN by 2026 at a CAGR of 7.2% during 2020-2026.The main driver behind the growth of the market for synthetic leather is the more strict environmental protection rules that are being followed nowadays. Synthetic leathers are being preferred over normal leather because it reduces the effect on the environment and is relatively cheaper. The various animal cruelty regulations at the place are also acting as the driver behind the growth of the market for synthetic leather. The reduction in animal farming for leather has boosted the market for synthetic leather and since then it has been growing at a steady state. The market is not expected to witness a boom but it is forecasted that it will continue to grow steadily for the foreseeable future.
Leather has been a vital part of our lives since ancient times and remains so, however small. Leather despite being used at considerably low rates than it used to be before remains an important part of our industry, especially for the shoes. The shoes made of leather are considered to be of the best quality as they offer extended durability. The world has advanced its technology by leaps and bounds and this innovation has left us with a new alternative for leather known as synthetic leather. It can also be said as a cheap option for leather as it offers a leather-like finish but the base material is something cheaper than leather.
"Global Synthetic Leather Market Report By Product (PU, PVC, And Bio based), Application (Furnishing, Automotive, Footwear, Bags & Wallets, Clothing, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026" report begins with the market introduction, market snapshot followed by in-depth regional revenue/volume for the next six years. The geo-economical factiors and historic Synthetic Leather industry trends are analysed to foresee and predict the forecasts for next six years.
By product the Synthetic Leather market is bifurcated into PU, PVC, and bio based.
On the basis of application the Synthetic Leather market is bifurcated into furnishing, automotive, footwear, bags & wallets, clothing, and others.
The geographical segmentation of the report highlights the share of the revenue/volume spread globally as per region and country. The study in segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
The Report Segments Global Synthetic Leather Market -
- Bags & wallets
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Alfatex Italia SRL , Filwel Co. Ltd, H.R. Polycoats Pvt. Ltd , Kuraray Co. Ltd. , Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co. Ltd, Teijin Limited, Yantai Wanhua Synthetic Leather Group Co. Ltd., and Zhejiang Hexin Industry Group Co. Ltd.
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