$33.54 Billion Synthetic Leather (Artificial Leather) Market 2017 - Global Forecast to 2021 - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Synthetic Leather (Artificial Leather) Market by Type (Polyurethane, Polyvinyl Chloride, Bio-based), End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, Sports, Electronics) - Global Forecast to 2021" report to their offering.

The global synthetic leather market was valued at USD 22.13 billion in 2015 and is projected to reach USD 33.54 billion by 2021, at a CAGR of 7.20% from 2016 to 2021.

The growing demand from major end-use industries such as footwear, furnishing, and automotive is expected to drive the market in the future. The harmful environmental effects of the processing of PVC and PU is a major restraint for the market.

PU-based synthetic leather is expected to witness the highest growth rate from 2016 to 2021. PU-based synthetic leather is made with the use of soft polymers, hence it does not require additional plasticizers. It offers many advantages such as, it is waterproof, lighter than real leather, and is comparatively soft.

The Asia-Pacific region is projected to be the largest and fastest-growing synthetic leather market due to the growing construction and automotive industry in the region. The South American synthetic leather market is also expected to grow at a high rate due to the growing automotive, footwear, and furnishing industries. North America is a significant market for synthetic leather, though is witnessing a moderate growth rate due to the growing concerns regarding killing animals which is reducing the demand for pure leather, and increasing the demand for synthetic leather.

Market Dynamics

Drivers

  • Growing Demand from the Footwear Industry
  • No Involvement of Animal Killing, Which Makes It a Major Alternative of Pure Leather
  • Advantages Over Pure Leather

Restraints

  • Harmful Effects of Pu And Pvc

Opportunities

  • Focus On Development of Bio-Based Synthetic Leather

Companies Mentioned

  • Alfatex
  • Amway, Shandong Jinfeng Artificial Leather Co., Ltd.
  • Anhui Material Technology Co., Ltd.
  • Arora Vinyl Pvt. Ltd.,
  • Filwel Co. Ltd
  • H.R. Polycoats Pvt. Ltd.
  • Kuraray Co., Ltd.
  • Marvel Vinyls, Kolon Industries Inc.
  • Mayur Uniquoters Limited
  • Nan Ya Plastics Industrial Co., Ltd.
  • San Fang Chemical Industry Co., Ltd.
  • Teijin Limited
  • Toray Industries Inc.
  • Yantai Wanhua Synthetic Leather Group Co., Ltd.
  • Zhejiang Hexin Industry Group Co., Ltd.
  • Zhejiang Yongfa Synthetic Leather Co., Ltd

For more information about this report visit http://www.researchandmarkets.com/research/tw3qgm/synthetic_leather

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Synthetic Textiles

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Synthetic Textiles