San Francisco, May 31, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Synthetic Leather Market - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028” in its research database.
How big is the Synthetic Leather (Artificial Leather) Industry?
“According to the latest research study, the demand of global Synthetic Leather Market size & share was valued at USD 63.17 billion in 2021 and it is expected to cross at approximately USD 80.55 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 4.01% during the forecast period 2022 to 2028.”
What is Synthetic Leather (Artificial Leather)?
Market Overview:
Synthetic leather is a man-made fabric consisting primarily of polyvinyl chloride (PVC) or polyurethane (PU) (PU). It's a type of synthetic leather that looks like genuine leather. Synthetic leather is dyed and processed to resemble genuine leather in appearance. This sort of leather is referred to as vegan leather, imitation leather, leatherette, and leather.
Durability, color resistance, and weather resistance are all advantages of synthetic leather. It has no layers or joints; therefore, water cannot leak inside and cause harm to the material.
Click Here To Access Free Sample Report of the Global Synthetic Leather Market @ https://www.fnfresearch.com/sample/synthetic-leather-market
(A free sample of this report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 210+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Global Synthetic Leather Market: Dynamics
The growing demand for synthetic leather in end-use sectors including footwear, furniture, automotive, clothing, bags, purses & wallets, and others is driving the market. The synthetic leather market will be driven by factors such as rising demand from the footwear sector, the absence of animal slaughter, advantages over pure leather, and rising demand for luxury cars and electric vehicles. Synthetic leather is chemically treated to make it resistant to sunlight, scrapes, and fire; but owing to wear and strain, it becomes weak and subject to degeneration.
Synthetic leather is inexpensive; nonetheless, it requires a high level of care and maintenance, as well as protection from direct sunlight to extend its life. As a result, clients and end-users in commercial industries consider the advantages, which are greater than the disadvantages, in order to make purchasing decisions.
Browse the full “Synthetic Leather Market By Type (PU-Based, PVC Based, Bio-based), By End User Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, Others), and By Region - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028” Report at https://www.fnfresearch.com/synthetic-leather-market
Synthetic Leather Market: COVID-19 Impact Analysis
The leather industry was adversely hit by COVID-19, which has created opportunities for synthetic leather. Synthetic leather has recently been in considerable demand for beds and furniture in makeshift hospitals and healthcare institutions around the world to aid patients with COVID-19 and other diseases. These mattresses and other items of furniture are usually covered in antibacterial or antifungal medical-grade synthetic leather. Car sales declined in the first half of the year, which had an indirect influence on demand for synthetic leather, which is mostly used in car interiors.
The entire research report examines the synthetic leather market from both a qualitative and quantitative standpoint. The supply and demand sides of the market have both been explored. The demand side analysis looks at market income in different regions before comparing it to the income of all major countries. The supply-side study looks at the industry's key competitors, their regional and worldwide presence, and their strategy. Every major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is explored exhaustively.
Synthetic Leather Market: Segmentation Analysis
Type Segment Analysis
- By type, the market is segregated into PU-Based, PVC Based, and Bio-based. The PU synthetic leather segment led the global market accounting for the largest revenue share in 2021.
- The segment will expand further at the fastest CAGR from 2022 to 2028. Polyurethane is waterproof and softer & lighter than real leather and can be dry cleaned and torn easily as real hides. It also remains unaffected by sunlight.
- In addition, it is an eco-friendly substitute for vinyl-based products as it does not emit dioxins. All these factors are expected to augment its demand further.
- The PVC product segment is expected to witness slow growth over the forecast period. PVC was the first form of synthetic leather created in 1920.
End-user Industry Segment Analysis
- By End-user Industry, the global market is distinguished into Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, and Others.
- Footwear is estimated to be the largest end-use industry in the synthetic leather market between 2022 and 2028.
- Synthetic leather is widely used in the footwear industry due to its excellent properties and high durability. It is used in shoe linings, shoe uppers, and insoles to make different types of footwear such as sports shoes, shoes & boots, and sandals & slippers.
- The increasing demand for footwear in developed and emerging countries is expected to drive the demand for synthetic leather. Synthetic leather is widely used to manufacture sports shoes for various games around the world due to its cost-effectiveness.
Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/synthetic-leather-market
Competitive Landscape
The report contains qualitative and quantitative research on the global synthetic leather market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
List of Key Players in the Global Synthetic Leather Market:
- Kuraray Co. Ltd. (Japan)
- San Fang Chemical Industry Co. Ltd. (Taiwan)
- Teijin Limited (Japan)
- Mayur Uniquoters Limited (India)
- NAN YA plastics corporation (Taiwan)
- Filwel Co. Ltd. (Japan)
- Zhejiang Hexin Industry Group Co., Ltd. (China)
- Alfatex N.V. (Belgium)
- H.R. Polycoats Pvt. Ltd. (India)
- Yantai Wanhua Synthetic Leather Group Co. Ltd. (China)
The global synthetic leather market is segmented as follows;
By Type
- PU-Based
- PVC Based
- Bio-based
By End-user Industry
- Footwear
- Furnishing
- Automotive
- Clothing
- Bags, Purses & Wallets
- Others
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Synthetic Leather market is estimated to grow at a CAGR of around 4.01% over the projected timeframe.
- In term of revenue, The Synthetic Leather market was valued at around USD 63.17 billion in 2021 and is projected to reach USD 80.55 billion, by 2028.
- Based on type, the PU synthetic leather segment, which accounted for the majority of revenue in 2021, led the global market. The segment will expand at the quickest CAGR from 2022 to 2028.
- Based on end-user industry, the Footwear is predicted to be the largest end-use industry for synthetic leather between 2022 and 2028. Synthetic leather is often used in the footwear industry due to its excellent qualities and long durability.
- On the basis of region, The Asia Pacific region dominated the global market.
Key questions answered in this report:
- What is the market size and growth rate forecast for Synthetic Leather industry?
- What are the main driving factors propelling the Synthetic Leather Market forward?
- What are the leading companies in the Synthetic Leather Industry?
- What segments does the Synthetic Leather Market cover?
- How can I receive a free copy of the Synthetic Leather Market sample report and company profiles?
Have Any Query? Ask Our Experts: https://www.fnfresearch.com/inquiry/synthetic-leather-market
Regional Dominance:
In 2021, Asia Pacific dominated the market globally. From 2022 to 2028, the regional market will grow at the fastest rate. APAC's top revenue-generating economies are predicted to be China, India, and South Korea. Market players will have several expansion prospects as disposable income rises in tandem with population increase. In terms of product manufacturing and sales, China is one of the most important marketplaces.
The global epidemic, on the other hand, had a negative impact on the country's manufacturing production. To stop the spread of the disease, several manufacturers have shut down or slowed down their activities. Limited manufacturing output due to a halt or slowdown in operations, as well as supply and transportation constraints in the country, and infrastructure slowdown are anticipated to negatively affect the product demand from the end-use application in the near future.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Request for Customization on this Report as per your requirements - https://www.fnfresearch.com/customization/synthetic-leather-market
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 63.17 Billion |
| Projected Market Size in 2028 | USD 80.55 Billion |
| CAGR Growth Rate | 4.01 CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Kuraray Co. Ltd. (Japan), San Fang Chemical Industry Co. Ltd. (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Limited (India), NAN YA plastics corporation (Taiwan), Filwel Co. Ltd. (Japan), Zhejiang Hexin Industry Group Co. Ltd. (China), Alfatex N.V. (Belgium), H.R. Polycoats Pvt. Ltd. (India), Yantai Wanhua Synthetic Leather Group Co. Ltd. (China), and Others |
| Key Segment | By Type, End-use Industry, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
To Know an Additional Revised 2022 List of Market Players, Request a Sample Report: https://www.fnfresearch.com/sample/synthetic-leather-market
Browse Other Related Research Reports from Facts & Factors:
Synthetic Ropes Market - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028
Synthetic Fiber Market - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2028
Leather Chemicals Market - Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Paste PVC Resin Market - Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Dyes and Pigments Market - Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industrial Rubber Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028
About Facts & Factors:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Follow Us on LinkedIn: https://www.linkedin.com/company/fnfresearch
Follow Us on Twitter: https://twitter.com/fnfresearch
Follow Us on Facebook: https://www.facebook.com/factsandfactors/
Contact Us:
Sanu Thomas
USA: +1 347 690-0211
United Kingdom: +44 2032 894158
Japan: +81 50 5806 9039
India: +91 96043 17127
Web: https://www.fnfresearch.com
Blog: http://fnfnewsblog.com
Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?
Email Directly Here with Detail Information: sales@fnfresearch.com
