Synthetic Leather Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

  • Single User License $3500

Synthetic Leather Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Chemical & Materials | PPT format

Report Digest


Global Synthetic Leather Market: Snapshot

Synthetic leather or artificial leather, is made using polyvinyl chloride, (PVC) or polyurethane (PU). Over the past few years, it has soared in popularity as it closely resembles natural leather in feel and appearance. Unlike actual leathers, manufacturers can create high durable and low-maintenance products such as purses, bags, diary covers, stationery items, belts, garments, wallets and a variety of sports items, which can be made into a variety of colors and extraordinary designs. Thus, the application of synthetic leather is gaining prominence in making a wide range of innovative, fashionable, and artistic products. Constant technological advances being made in manufacturing processes have led to the better use of raw materials resulting in products with elongated life-cycle. Greater affordability of the products made from synthetic leather is a key factor attributing their popularity. Other factors boosting the popularity are their high durability and stain-resistance.

A number of factors in processing synthetic leather are responsible for conferring significant similarities between them and the natural leather. Additives used in the manufacture of synthetic leather using PVC include plasticizers, fillers, and stabilizers. Coating the products with water-based lacquers help in reproducing the feel of real leather. A combination of fabrics supporting the PVC fabrics used in manufacturing process are made to suit customized needs of various end users. In some cases, cotton or polyester is coated with a polymer, which makes it ideal for being used in garments. Modern treatment processes make the products resemble actual animal hide closely. The demand for a more stylish leather products has catapulted the demand for synthetic leather in the coming years.

Global Synthetic Leather Market: Overview 

Globally, the rising disposable income and changing lifestyles are paving way for a greater uptake of apparels and footwear. Leather is one of the most commonly used materials used for their manufacturing. As a result, the global synthetic leather market is gaining significant traction. Synthetic leather is produced using polyurethane or polyvinyl chloride. It is used for the manufacturing of clothing, automotive, footwear, bags, and furnishings among others. 

The report methodically examines the current and historical data to forecast the size of the global synthetic leather market in the foreseeable future, in terms of both revenue and volume. It provides a detailed overview of the dynamics of the market and analyzes the extent to which they impact the growth. It strategically segments the market on the basis of various criteria including geography and end-user industries for a better understanding. It derives the competitive environment of the market using tools such market attractiveness analysis and Porter’s five force analysis. It profiles the prominent players in the market along with their latest developments, market shares, business strategies, revenue generation, and contact information. 

Global Synthetic Leather Market: Drivers and Restraints 

The growing concerns about animal safety are compelling governments to form stringent regulations regarding the use of leather and other animal products. This is causing a decline in the pure leather industry, which in turn is working in favor of the growth of the global synthetic market. In addition, synthetic leather is advantageous over pure leather in terms of strength, which is also driving its demand. The market is also witnessing an upswing in the demand from the footwear industry. On the other hand, the increasing concerns regarding the hazardous effects of PVC and PU processing on the human health and environment are negatively influencing the growth of the market. 

Global Synthetic Leather Market: Geographical Segmentation 

On the basis of geography, the segments analyzed are North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific will account for a substantial share in the market throughout the forecast period. The increasing stringency of regulations pertaining to animal welfare is translating into greater demand for synthetic leather in the region. The presence of a large number of key players along with the rapid technological innovations in the synthetic leather industry is providing a significant boost to the growth of the region. 

Moreover, the enhancing economic conditions coupled with the flourishing growth of the end-user industries such as furnishing, footwear and automotive are propelling the growth of the region. Countries such as India, China, and South Korea will be sights of high growth in the region. North America is poised to register a moderate growth rate during the same span. The growth of Europe can be attributed to the presence of many international fashion brands. 

Global Synthetic Leather Market: Competitive Landscape 

Prominent companies operating in the global synthetic leather market are adopting novel product development as their key growth strategy to consolidate their presence. With the rising environmental concerns, several players are likely to tap the market by developing bio-based and upgraded products. The market is characterized by fierce competition among players in terms of price and product offerings in order to strengthen their foothold. Some of the key participants in the global synthetic leather market are San Fang Chemical industry Co. Ltd, Kuraray Co. Ltd., Teijin Limited, Nan Ya Plastics Co. Ltd., Alfatex, H.R. Polycoats Pvt. Ltd., and Mayur Uniquoters Ltd. 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?