DUBLIN--(BUSINESS WIRE)--The "Synthetic Leather Market Size, Share & Trends Analysis Report by Product (Bio-based, PVC, PU), by Application (Clothing, Furnishing, Automotive, Bags & Wallets, Footwear), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global synthetic leather market size is expected to reach USD 52.96 billion by 2027. It is projected to expand at a strong CAGR of 7.8%, in terms of revenue during the forecast years.
Increasing scope of application for the product in footwear has been a major factor driving the growth. Growing importance and awareness about animal rights along with stringent laws regarding the usage of real leather is anticipated to further fuel the product demand.
Synthetic leather materials have superior properties, such as high gloss finish, durability, strength, UV resistance, and easy maintenance. Moreover, products made from faux leather are cheaper and thus, continue to attract consumers, especially from middle- and high-income level groups. However, in countries, such as Japan, the product is facing competition from Fumikodata, which is a replica of real leather and is a cruelty-free material. Polyurethane (PU) was the largest product category in 2017 and is expected to register the fastest CAGR over the forecast period.
PVC is anticipated to witness sluggish growth on account of its properties, such as sticky finish and lesser durability. Footwear application segment is expected to observe a considerable growth over the forecast period. Cheaper costs and fluctuating climatic conditions in several regions creates needs for different types of footwear. Rising disposable income levels in emerging regions are also fueling the demand for synthetic leather in the footwear segment. Rising use of athletic shoes in everyday life is further augmenting the product demand.
Further key findings from the repot suggest:
- PU leather emerged as the largest product segment in 2019 and is estimated to generate revenue over USD 32.9 billion by 2027
- Asia Pacific (APAC) is projected to witness the fastest growth over the estimated period owing to rapid economic growth across countries, such as India, China, Japan, and Korea
- Rapid development of construction and automotive manufacturing industries in APAC is also fueling the product demand in the regional market
- Countries, such as South Korea, Taiwan, China, and India, are emerging as leading producers of synthetic leather in the global market as a result of available of relatively cheaper raw materials
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Leather Market Outlook
3.1.2 Global Synthetic Leather Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Comparative analysis of PU and PVC resin
3.5 Comparative Analysis Between The Woven And Nonwoven Fabric
3.6 Sales Channel Analysis
3.7 Brief market scenario analysis of surfactants and catalysts for artificial leather production
3.8 Technology Overview
3.8.1 Transfer Coating Technology
3.8.2 Wet Process
3.9 Regulatory Framework
3.9.1 Code Of Federal Regulations
184.108.40.206.1 Emission standard of pollutants for synthetic leather and artificial leather industry (GB 21902-2008) in China
220.127.116.11.2 The Environment (Protection) Rules, 1986
18.104.22.168.3 Indian Standard Automotive Vehicle-Flammability Requirements
3.10 Market dynamics
3.10.1 Market Driver Analysis
22.214.171.124 Growing demand from footwear sector
126.96.36.199 Viable alternative to natural leather
3.10.2 Market Restraint Analysis
188.8.131.52 Damaging effects of PVC and PU
3.11 Business Environment Analysis: Plastics Market
3.11.1 Porters Five Forces Analysis
3.11.2 Pestle Analysis
Chapter 4 Synthetic Leather Market: Product Estimates & Trend Analysis
4.1 Synthetic leather market: Product movement analysis, 2018 & 2025
4.2 PU Synthetic Leather
4.3 PVC Synthetic Leather
4.4 Bio based Leather
Chapter 5 Synthetic Leather Market: Application Estimates & Trend Analysis
5.1 Synthetic Leather Market: Application movement analysis, 2018 & 2025
5.5 Bags & Wallets
Chapter 6 Synthetic Leather Market: Regional Estimates & Trend Analysis
6.1 Regional Market Snapshot
6.2 North America
6.4 Asia Pacific
6.5 Central & South America
6.6 Middle East & Africa
Chapter 7 Competitive Landscape
7.1 Key Company/Competition Categorization (Key innovators, Market leaders, and emerging players)
7.2 Vendor Landscape
7.3 Public Companies
7.4 Private Companies
7.5 List of bio based leather manufacturers
Chapter 8 Company Profiles
8.1 Kuraray Co., Ltd.
8.1.1 Company Overview
8.1.2 FINANCIAL PERFORMANCE
8.1.3 Revenue By Business Segment
8.1.5 Revenue By Geography
8.1.6 Product Benchmarking
8.1.7 Production Capacities
8.1.8 Strategic Initiatives
8.2 H.R. Polycoats Pvt. Ltd.
8.3 Alfatex Italia SRL
8.4 Filwel Co., Ltd.
8.5 Yantai Wanhua Synthetic Leather Group Co., Ltd.
8.6 San Fang Chemical Industry Co., Ltd.
8.7 Mayur Uniquoters Limited
8.8 Nan Ya Plastics Corporation
8.9 Zhejiang Hexin Industry Group Co., Ltd.
8.10 Teijin Limited
For more information about this report visit https://www.researchandmarkets.com/r/7bi8xk