Synthetic Leather Market was valued around US$ XX Bn in 2016, exhibiting a CAGR over XX % during the forecast year 2017-2024Synthetic Leather MarketEurope Artificial Intelligence (AI) Market1Synthetic leather is a material intended to an alternative for leather in market areas such as upholstery, clothing, footwear and fabrics and other uses where a leather-like finish is required, but actual material is too expensive or unsuitable. Synthetic leather is marketed under many names, including leatherette, vegan leather, faux leather, PU leather and pleather.
Currently, synthetic leather has gained universal acceptance and is often used as an alternative for genuine leather because it is less expensive and does not require any genuine animal hide. Synthetic leathers are available in a variety of colors, leading to them being used in a wide number of industries such as footwear, automobile, garments, and fashion accessories such as bags, wallets, etc. In addition, synthetic leather is cheaper than natural leather and superior to genuine leather in terms of its diversity in looks and use; therefore it has become the popular choice for many manufacturers active in the automobile and footwear industry.
Global footwear market is growing at highest CAGR between other end users of synthetic leather. This is credited to a growing standard of living and increasing urban population around the world. In upcoming years, footwear industry is expected to make a major share of overall demand for Synthetic Leather. Furthermore, increasing disposable income motivating people around the world to enrich their house, such as furnishing the house with a covering, which may fuel the demand for Synthetic Leather Market.
Synthetic Leather Market is segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Asia-Pacific (APAC) region is a major synthetic leather market, closely followed by Europe, in terms of estimated value. Increasing end-user manufacturing industry such as automotive, footwear, and furnishing, coupled with rules regarding animal welfare is driving demand for synthetic leather in the Asia-Pacific region. Many international fashion brands such as Baggit, Zara, Puma, Nike and others present in Europe is fueling demand for Synthetic Leather Market in the region.
Synthetic Leather Market2
Key players analysed in the Synthetic Leather Market:
- Kuraray
- Asahi Kasei Corporation
- San Fang Chemical Industry Co., Ltd.
- Toray Coatex Co. Ltd.
- H.R. Polycoats Pvt. LTD.
- ALFATEX
- Filwel Co., Ltd.
- Teijin Limited
- Mayur Uniquoters Ltd.
- Nan Ya Plastics Co. Ltd.
- Filwel Co. Ltd.
- Zhejiang Hexin Industry Group Co., Ltd.
- Alfatex
- H.R. Polycoats Pvt. Ltd.
- Yantai Wanhua Synthetic Leather Group Co. Ltd.
- Mitsubishi Chemicals Corporation
- DuPont
- Hanwa Chemical Corporation
The scope of the Report:
By Product Outlook
- PU
- PVC
- Bio based
By Application Outlook
- Furnishing
- Automotive
- Foot wear
- Bags & wallets
- Clothing
- Others
By Region
- North-America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
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