Synthetic Leather Market Size And Forecast
The Global Synthetic Leather Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Synthetic Leather Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Synthetic Leather Market was valued at USD 28.01 Billion in 2019 and is projected to reach USD 48.19 Billion by 2027, growing at a CAGR of 7.0% from 2020 to 2027.
What is Synthetic Leather?
Synthetic leather is an artificially made fabric that is normally made by using polyvinyl chloride (PVC) or polyurethane (PU). It is man-made leather, that gives the look of the real leather. Synthetic leather is dyed and processed to look like a pure leather. This leather is known by various names such as vegan leather, faux leather, leatherette and pleather. Synthetic leather has several properties such as durability and resistance to dye and weather. It comes with no layers/joints, which stop the water from leaking inside and producing damage to the material. It mainly uses foe the products where a leather-like texture is required, such as in automotive interiors, footwear, upholstery, garments, interior designing, and furnishing.
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Global Synthetic Leather Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Evolving consumer trends, increasing demand from the footwear industry, rising demand for animal-free products and mounting awareness concerning the attributes of synthetic leather amongst others are major factors anticipated to boost the market growth of global synthetic leather market. In addition to this emphasis on the development of bio-based leather is expected to create opportunity for the market. However, Harmful effects of PU and PVC may hamper the market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Synthetic Leather Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Synthetic Leather Market Competitive Landscape
The “Global Synthetic Leather Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Kuraray Co. Ltd, Teijin Limited, San Fang Chemical Industry Co. Ltd, Mayur Uniquoters Ltd., Filwel Co. Ltd., Nan Ya Plastics Co. Ltd., Zhejiang Hexin Industry Group Co., Ltd., H.R. Polycoats Pvt. Ltd., Yantai Wanhua Synthetic Leather Group Co. Ltd. and Alfatex. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Synthetic Leather Market, By Product
Synthetic Leather Market, By End-User
• Bags, purses & wallets
Synthetic Leather Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Rest of the World