(MENAFN- The Express Wire) 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 2031

Global synthetic leather market report [State-of-the-art Research 2023] thorough analysis conducted by industry specialists offers precious knowledge into current trends. The reserach includes up-to-date industry data and predictions, providing information on market growth in various regional and national markets. It also covers an analysis of competition in the industry and detailed evaluations of individual companies throughout the anticipated forecast period until 2031. ask for a sample report

The Market Report on Synthetic Leathers includes an analysis of the factors that may contribute to future growth, as well as an overview of the current market share, adoption of different types, technologies, applications, and regions. The report provides projections for these aspects until 2031.

Helps you identify the customers and products that drive revenue and profit growth. The report examines the key drivers and restraints of the key players. It also provides information on the status of development and challenges. The report highlights potential opportunities in the Synthetic Leather Market rate markets and examines the impact of different elements in the analysis.

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What Makes This Report Stand Out?

• Obtain a dependable forecast of the worldwide Synthetic Leather market's future from 2023 to 2031, considering a range of scenarios.
• Discover profitable segments for investment and growth opportunities.
• Gain an edge over rivals by accessing company profiles and market data.
• The market estimation is conveniently available in Excel format, allowing for effortless analysis across multiple scenarios.
• Receive expert support with strategy consulting and research for three months, to help with making informed decisions.

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Unique Features of Synthetic Leather Market Report are:-

Synthetic leather is a man-made fabric comprised of natural or synthetic fibers, coated with a plastic polymer or similar. Synthetic leather is generally manufactured using polyurethane (PU) or polyvinyl chloride (PVC) or textile-polymer composite microfibers. Synthetic leather is a vinyl-coated fabric with a soft texture identical to real leather. It is commercialized under many names including faux leather, vegan leather, leatherette, pleather, and PU leather. Synthetic leather holds various properties such as durability and resistance to water and stain. Synthetic leather has become very popular nowadays as it is affordable and holds the appearance of real leather. It is available in a wide range in terms of color, texture, and fabric look. They are used in furniture upholstery, footwear, clothing fabrics, and automotive uses.

Market Highlights

Global Synthetic Leather market is expected to project a notable CAGR of 5.98 Percent in 2031.

Global Synthetic Leather market to surpass USD 52.47 billion by 2031 from USD 29.32 billion in 2020 at a CAGR of 5.98 Percent in the coming years, i.e., 2021-30. Global Synthetic Leather market is estimated to propel owing to its superior properties including durability, gloss finish, UV resistance, flexibility, and easy maintenance. Additionally, increase in fashion trends supported with mounting several brands and distribution channels is anticipated to drive the market. The market is also driven by the rising application of synthetic leather in the automotive industry, due to its elasticity, breathability, and heat-resistant properties.

Recent Highlights in Global Synthetic Leather Market

In February 2019, Kuraray Europe GmbH showcased a new solvent-free man-made leather at Premià ̈re Vision 2019, which holds properties the same as natural leathers. These properties make it extremely suitable for many fashion creations.

Global Synthetic Leather Market: Segments

Polyurethane (PU) segment to grow with the highest CAGR during 2021-30

Global Synthetic Leather market is segmented by type into Polyurethane (PU), Polyvinyl Chloride (PVC), and Bio-based. Polyurethane (PU) based segment held the largest market share in the year 2020. PU synthetic leather is more environment-friendly than PVC synthetic leather, as it does not produce dioxins. Companies are manufacturing PU-based synthetic leather owing to its light weight, waterproof and high-quality properties.

Footwear Segment to grow with the highest CAGR during 2021-30

Global Synthetic Leather market is distributed by application into Footwear, Furnishing, Automotive, Clothing, Bags, Purses and Wallets, Sports, Electronics and Others. Footwear Segment held the largest market share in the year 2020 owing to rising income levels and standard of living in emerging economies.

Market Dynamics

Drivers

Growing Demand for Synthetic Leather in Footwear Industry

Synthetic leather is significantly used in footwear industry owing to rise in demand for trendy, better fit, and comfortable shoes. Synthetic leather offers a vivid appearance and is cheaper compared to natural leather. The wear-resistant and chemical resistant properties of synthetic leather allow it to be utilized in the manufacturing of footwear such as boots for use in the chemical industry and other industrial work. Besides change in consumer preference and rising fashion trends are expected to drive the demand for synthetic leather.

Rise in Awareness Regarding Animal Rights

Growing awareness and importance about animal rights accompanied with stringent laws set by various organizations regarding the usage of real leather is expected to proliferate the demand for synthetic leather. Additionally, synthetic leather is manufactured in a factory and animals do not go through any brutality during its production thereby making it popular among vegan population who prefers nonleather products. This in turn is likely to boost the synthetic leather market.

Restrain

Environmental Effects of PU and PVC

Synthetic leather is made by using PVC (polyvinyl chloride), polyurethane, or polyamide microfiber. During the manufacturing of PVC synthetic leather, its main components are discharged into the air and become pollutants. It also emits toxic chemicals into the ground when placed in landfills which are projected to hamper the global market growth during the forecast period.

Global Synthetic Leather Market: Key Players

Kuraray Co. Ltd

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

H.R. Polycoats Pvt. Ltd

Alfatex Italia SRL

Filwel Co. Ltd

Yantai Wanhua Artificial leather Group Co. Ltd

San Fang Chemical Industry Co. Ltd

Mayur Uniquoters Limited

Nan Ya Plastics Corporation

Zhejiang Hexin Industry Group Co. Ltd

Teijin Limited

DuPont Tate and Lyle Bio Products Company

Toray Group.

Other Prominent Players

Global Synthetic Leather Market: Regions

Global Synthetic Leather market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global Synthetic Leather market in Asia Pacific held the largest market share in the year 2020. Asia Pacific will continue to dominate the Global Synthetic Leather market due to the high demand for synthetic leather in the footwear, automotive, clothing, and furnishing industries in this region. Increasing population coupled with rising disposable income is projected to bolster the synthetic leather market globally.

Global Synthetic Leather market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Synthetic Leather market report also contains analysis on:

Synthetic Leather Market Segments:

By Type

Polyurethane (PU)

Polyvinyl Chloride (PVC)

Bio-based

By Application

Footwear

Furnishing

Automotive

Clothing

Bags

Purses and Wallets

Sports

Electronics

Others

Global Synthetic Leather market Dynamics

Global Synthetic Leather market size

Supply and Demand

Current Trends/Issues/Challenges

Competition and Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

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This report provides detail analysis of the market and have a comprehensive understanding of the Synthetic Leather market and its commercial landscape. Learn about the various market strategies that are being adopted by leading companies.It provides a five-year forecast assessed based on how the Synthetic Leather market is predicted to grow.It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.To understand the future scope and outlooks for the Synthetic Leather market.Synthetic Leather Market Forecast by regions, type and application, with sales and revenue, from 2023.Synthetic Leather Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.

Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.

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Detailed TOC of Global Synthetic Leather Market Outlook to 2031

1.Executive Summary

2.Synthetic Leather Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4.Average Pricing Analysis

5. Macro-Economic Indicators

6.Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7.Correlation and Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8.Recent Development, Policies and Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10.Synthetic Leather Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11 Synthetic Leather Market

11.1. Market Size and forecast, 2019A-2031F

11.1.1. By Value (USD Million) 2019-2031

11.1.2. By Volume (Million Units) 2019-2031

12.Synthetic Leather: Market Segmentation

12.1. By Regions

13. Company Profile

13.1.2. Company Overview

13.1.3. Company Total Revenue (Financials)

13.1.4. Market Potential

13.1.5. Global Presence

13.1.6. Key Performance Indicators

13.1.7. SWOT Analysis

13.1.8. Product Launch

14. Consultant Recommendation

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