Report ID: UCMIG15A2026 | Region: Global | Published Date: August, 2022 | Pages: 165Bleached Linter Cellulose Market
Report ID: SQSG15A2026 | Region: Global | Published Date: August, 2022 | Pages: 165
Global synthetic leather market size was valued at USD 63.17 billion in 2021, and it is expected to reach a value of USD 80.55 billion by 2028, at a CAGR of 4.01% over the forecast period (2022 - 2028).
Globally rising demand from the footwear industry is anticipated to be a major driver of market expansion. Another aspect that has fueled the need for natural leather alternatives is the expensive price of natural leather. Another significant type of synthetic leather that has gained popularity is PVC leather, which is used for a wide range of products such as shopping bags, cosmetic bags, wallets, suitcases, purses, and travel bags. It is utilised in many different applications, such as fabrics, shoes, clothing, furniture, and others where a leather-like finish is necessary but the material is unsuitable, unusable, or prohibitively expensive. Over the past few years, the manufacturing procedure for the shell coating that is applied on top of the synthetic polymer blend has changed.
Synthetic leather consumption in the United States has significantly increased recently. The demand in the American market has significantly increased recently. An enormous increase in the demand for automobile synthetic leather upholstery is probably going to be advantageous for the whole market in the United States. The global demand has seen a paradigm shift as a result of increasing use across furniture, automotive, apparel, bags, and other industries. During the forecast period, attempts to enhance the supply chain are anticipated to have a positive impact on the market in the U.S. Due to the abundance of raw materials and affordable labour and shipping costs in Asia, particularly China and Vietnam, manufacturers have been expanding their sourcing.
However, because of the numerous preventive steps implemented by various countries to stem the development of the pandemic, the recent spread of the coronavirus throughout the world has significantly reduced the market for synthetic leather. This has caused a decrease in demand for and trade in synthetic leather around the world, and it is anticipated that this will have a detrimental effect on market growth in the years to come. The demand for the product is anticipated to be largely influenced by developing regional markets such those in China, India, Brazil, Malaysia, Thailand, and Vietnam. Over the next few years, it is anticipated that widespread use of synthetic leather in the footwear industry in a number of other regional markets will also help drive industry expansion globally.
To get more reports on the above market click here to Buy The Report
The global synthetic leather market has been segmented based on type, end-user, and region. Based on type, the market is segmented into PVC-based, PU-based, and Bio-based. Based on the end-user, the market is segmented into automotive, footwear, clothing, furnishing, bags, purses & wallets, and others. Based on region, the synthetic leather market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
In 2021, the PU synthetic leather category dominated the market and generated more than 55.0 percent of total revenue. Its progress in terms of product quality, diversity, and yield has been encouraging. In comparison to actual hides, polyurethane is more easily torn and is lighter, softer, and waterproof. Sunlight has no effect on it either. Additionally, because it doesn't generate dioxins, it is a more environmentally friendly alternative to products made of vinyl. All of these elements are anticipated to further increase its demand.
Throughout the anticipated term, slow growth is anticipated in the PVC synthetic leather segment. In 1920, PVC was developed as the first synthetic leather substitute. It was initially created using cancer-causing chemicals and turned out to be the perfect material for usage in furnishings and household goods. Because PVC felt sticky and couldn't keep body heat in, PU posed a serious threat to PVC. Thus, its demand fell in the section of apparel and bag applications. The polyester polyol-based bio-based product has a 70–75 percent renewable content. Compared to PU and PVC, it is softer and has higher scratch resistance. Important global market players are concentrating on creating new items in association with polyol producers. In the coming years, rapid industrialisation and ongoing R&D will continue to support segment expansion.
To get detailed analysis on other segments, Request For Sample Report
In 2021, Asia Pacific had the greatest market share, and it is anticipated that it would continue to dominate during the projected period. The top three countries that export faux leather are China, India, and South Korea. The development of the synthetic leather market in this region is being fueled by advances in technology, welcoming government investment policies, rising disposable income, and population growth. However, there has been a paradigm shift in attention toward Indian markets as a result of the recent border disputes between China and India and the growing trade disagreement between the US and China. The Indian government has deliberately taken advantage of this chance to encourage self-reliance and has provided incentives to many sectors, particularly Small and Mid-size Enterprises (SMEs) to encourage the production and export of footwear and faux leather.
In 2021, European had the second-largest market share; during the projection period, it is anticipated to increase at a noticeably rapid rate. Germany, the United Kingdom, France, and Italy are the main contributors to the rise of fake leather in this region. The presence of international brands for clothes, shoes, and bags as well as strict laws encouraging the usage of bio-based leather are propelling the expansion of the synthetic leather market. During the projected period, North America, led by the US, is anticipated to experience a moderate growth rate. The severe environmental restrictions and various standards created by international organizations to decrease pollution from the leather industry are the main factors propelling the growth of the synthetic leather market in this region.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Very few businesses, mostly in the Asia Pacific region, with significant production capacities, dominate the synthetic leather market. To boost their revenues and expand their market shares, businesses frequently employ techniques like joint ventures, mergers and acquisitions, production capacity expansions, and new product development. For instance, businesses like Winner Nippon Leatherette Pvt. Ltd. are constantly working to create goods that may be used in place of real leather in a variety of applications.
Top Players in the Global Synthetic Leather Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, of type, the PU synthetic leather segment dominated the global synthetic leather market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global synthetic leather market owing to the region's advances in technology, welcoming government investment policies, rising disposable income, and population growth.
|Market size value in 2021||USD 63.17 billion|
|Market size value in 2028||USD 80.55 billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Synthetic Leather Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Synthetic Leather Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Synthetic Leather Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Synthetic Leather Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG15A2026