Global Synthetic Leather Market Size, Share & Trends Analysis Report 2020-2027: PU Leather to Account for $25+ Billion of the $40.9 Billion Projected Market
DUBLIN, Oct. 5, 2020 /PRNewswire/ -- 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 40.9 billion by 2027
Synthetic Leather Market Report Highlights
- PU leather emerged as the largest product segment in 2019 and is estimated to generate revenue over USD 25.4 billion by 2027
- Asia Pacific 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 Asia Pacific is also fueling the product demand in the regional market
- Countries, such as South Korea, Taiwan, China, and India, are emerging as leading producers in the global market as a result of available of relatively cheaper raw materials
The market is projected to expand at a strong CAGR of 4.4% in terms of revenue during the forecast period. Increasing scope of application for the product in footwear has been a major factor driving the growth. In addition, growing importance and awareness about animal rights set by several organizations and stringent laws regarding the usage of real leather are propelling the demand for synthetic leather.
Superior properties of this material, such as high gloss finish, durability, strength, UV resistance and easy maintenance are anticipated to positively influence the application. 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 upcoming years. Cheaper costs, 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 footwear segment. Moreover, trend of incorporating athletic shoes in daily lifestyle is further augmenting the product demand.
The ongoing spread of coronavirus pandemic across the globe is severely affecting the production, import, and export of leather and its byproduct, which, in turn, is anticipated to negatively affect the growth of the global market. As COVID-19 continues to spread across the world, order cancellations and shipping complications are surging throughout the leather industry.
End-use industries such as automotive, furniture, footwear, and textile are witnessing a sharp decline, in terms of demand and production, on account of reducing discretionary spending, factory shutdowns, limitations on the supply and transport, and a slowdown in infrastructure development activities across the globe. This, in turn, is anticipated to hamper the global market for the next two quarters of 2020.
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
3.3.1 Raw Material Trends
3.3.1.1 Pvc Resin
3.3.1.2 Plasticizers
3.3.1.3 Plasticizer Market Scenario
3.3.1.4 Woven & Nonwoven Fabrics
3.3.1.5 Polyurethane Adhesives
3.3.1.6 Colorants
3.4 Comparative Analysis Of Pu And Pvc Resin
3.4.1 Pricing Analysis For Pu And Pvc Resin
3.4.2 Advantages Of Pu Resin Over Pvc Resin In The Production Of Synthetic Leather.
3.5 Comparative Analysis Between The Woven And Nonwoven Fabric
3.5.1 Woven Fabric
3.5.2 Nonwoven Fabrics
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
3.9.1.1 Reach
3.9.1.1.1 Emission Standard Of Pollutants For Synthetic Leather And Artificial Leather Industry (Gb 21902-2008) In China
3.9.1.1.2 The Environment (Protection) Rules, 1986
3.9.1.1.3 Indian Standard Automotive Vehicle-Flammability Requirements
3.10 Market Dynamics
3.10.1 Market Driver Analysis
3.10.1.1 Growing Demand From Footwear Sector
3.10.1.2 Viable Alternative To Natural Leather
3.10.2 Market Restraint Analysis
3.10.2.1 Damaging Effects Of Pvc And Pu
3.11 Business Environment Analysis: Synthetic Leather 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, 2019 & 2027
4.2 Pu Synthetic Leather
4.2.1 Pu Synthetic Leather Market Estimates And Forecasts, 2016 - 2027 (Million Meters) (USD Million)
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, 2019 & 2027
5.2 Furnishing
5.2.1 Synthetic Leather Market Estimates And Forecasts, In Furnishing, 2016 - 2027 (Million Meters) (USD Million)
5.3 Automotive
5.4 Footwear
5.5 Bags & Wallets
5.6 Clothing
5.7 Others
Chapter 6 Synthetic Leather Market: Regional Estimates & Trend Analysis
6.1 Synthetic Leather Market: Regional Movement Analysis, 2019 & 2027
Chapter 7 Competitive Landscape
7.1 Key Company/Competition Categorization (Key Innovators, Market Leaders, And Emerging Players)
7.2 Vendor Landscape
7.2.1 List Of Key Distributors And Channel Partners
7.2.2 Key Potential Customers/End Users
7.3 Public Companies
7.3.1 Company Market Position Analysis
7.3.2 Competitive Dashboard Analysis
7.3.2.1 Market Differentiator
7.4 Private Companies
7.4.1 List Of Key Emerging Companies/Technology Disruptors/Innovators And Their Geographical Presence
7.5 List Of Bio Based Leather Manufacturers
Chapter 8 Company Profiles
8.1 Company Overview
8.2 Financial Performance
8.3 Revenue By Business Segment
8.5 Revenue By Geography
8.6 Product Benchmarking
8.7 Production Capacities
8.8 Strategic Initiatives
- Kuraray Co., Ltd.
- H.R. Polycoats Pvt. Ltd.
- Alfatex Italia SRL
- Filwel Co., Ltd.
- Yantai Wanhua Synthetic Leather Group Co., Ltd.
- San Fang Chemical Industry Co., Ltd.
- Mayur Uniquoters Limited
- Nan Ya Plastics Corporation
- Zhejiang Hexin Industry Group Co., Ltd.
- Teijin Limited
For more information about this report visit https://www.researchandmarkets.com/r/n3vu8
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