DUBLIN, March 31, 2023 /PRNewswire/ -- The "Global Synthetic Leather Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Based on the publisher's analysis, the global synthetic leather market is deemed to progress in revenue and volume at a CAGR of 7.48% and 7.26%, respectively, during the forecast period 2023-2030.
Factors such as an affordable alternative to original leather and a shift towards animal-free products are fueling the studied market's growth. Other than this, the rising popularity of bio-based synthetic leather is anticipated to create numerous growth opportunities for the synthetic leather market.
However, on the contrary, the market's growth is restricted due to the different characteristics of synthetic leather and processing concerns about PU and PVC.
The global synthetic leather market encompasses Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa regions.
North America is anticipated to witness the fastest growth over the forecast period in terms of revenue. The region's growth can be attributed to the growing innovation pertaining to bio-based leather and rising concerns about animal safety. Further, the growing demand for footwear and vegan fashion has elevated the use of this leather material. From vegan boots to outdoor skates, the growing vegan culture has influenced manufacturers to opt for synthetic leather to produce products, thus driving the region's market.
Market Dynamics
Market Drivers
- Affordable Alternative to Real Leather
- Shift Toward Animal-Free and Sustainable Products
Market Challenges
- Different Characteristics of Synthetic Leather Compared to Real Leather
- Processing Concerns Regarding Polyurethane (Pu) and Polyvinyl Chloride (Pvc)
Market Opportunity
- Popular Demand for Bio-Based Synthetic Leather
Key Topics Covered:
1. Global Synthetic Leather Market - Summary
2. Industry Outlook
3. Global Synthetic Leather Market Outlook - by Type
3.1. Polyurethane (Pu)
3.2. Polyvinyl Chloride (Pvc)
3.3. Bio-Based
4. Global Synthetic Leather Market Outlook - by End-Use
4.1. Footwear
4.2. Automotive
4.3. Furnishing
4.4. Clothing
4.5. Bags & Wallets
4.6. Other End-Uses
5. Global Synthetic Leather Market - by Regional Outlook
6. Competitive Landscape
7. Research Methodology & Scope
A selection of companies mentioned in this report includes
- BASF Se
- HR Polycoats Pvt Ltd
- Nan Ya Plastics Corporation Inc
- Achilles Usa Inc
- Toray Industries Inc
- Alfatex Italia Srl
- Teijin Limited
- Mayur Uniquoters Limited
- San Fang Chemical Industry Co Ltd
- Kuraray Co Ltd
For more information about this report visit https://www.researchandmarkets.com/r/hoo9z1
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SOURCE Research and Markets
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