As per this study the Global Synthetic Leather Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%. By volume, the market was estimated XX Million Meter in 2021 and is expected to reach XX Million Meter by 2026 with a CAGR of XX%.
Synthetic leather is an artificial man-made rubber that looks similar to natural rubber. The surface of synthetic leather is dyed and treated with certain additives like PVC which makes it look like natural rubber. Synthetic leather is often used as a substitute for natural rubber as it is cost effective and does not require animal slaughtering. Synthetic rubbers are widely used in footwear, clothing, bags and wallets, automotive and others.
The rising demand for footwear across the globe coupled with a growing population is boosting the global synthetic market growth. Moreover, raising awareness regarding animal safety which further prevents the use of real leather is again fueling the market growth. However, hazardous effects of polyvinyl chloride (PVC) and polyurethane (PU) to the human body during the production process is expected to restrain the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of synthetic leather.
The broad synthetic leather market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Bags & wallets
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for synthetic leather in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Synthetic Leather Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the synthetic leather market include 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. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.