Synthetic Leather Market to grow by USD 23.52 billion from 2022 to 2027|Air Water Inc., and Alfatex Italia Srl emerge as key contributors to growth - Technavio

NEW YORK, July 21, 2023 /PRNewswire/ -- The latest report on the synthetic leather market, 2022-2027 estimates to register an incremental growth of  USD 23.52 billion, at a CAGR of 9.44% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The shift of consumer preference from animal hide to synthetic leather products drives market growth. Generally, leather is a premium or luxury material for shoes, clothing, and bags but a significant portion of the sales in the apparel, accessory, and footwear industries are made up of synthetic leather or fabric. Such goods are also reasonably priced and are sold on the market in a variety of colors, patterns, and textures but do not include leather as a raw material. Hence, such factors drive market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Synthetic Leather Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

• Synthetic Leather Market 2023-2027 Size
• Synthetic Leather Market 2023-2027 Trends
• Synthetic Leather Market 2023-2027 Industry Analysis

Synthetic Leather Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Air Water Inc., Akea Srl, Alfatex Italia Srl, Anhui Anli Material Technology Co. Ltd., Asahi Kasei Corp., Colence Pvt. Ltd., H.R. Polycoats Pvt. Ltd., Kolon Industries Inc., KURARAY Co. Ltd., Lederplast Spa, Marvel Vinyls Ltd., Mayur Uniquoters Ltd., Nan Ya Plastic Corp., San Fang Chemical Industrial Co. Ltd., Teijin Ltd., Toray Industries Inc., Uniroyal Global Engineered Products Inc., Winner Nippon Leatherette Pvt. Ltd., Zhejiang Hexin Industry Group Co. Ltd., and Zhejiang Yongfa Synthetic Leather Co. Ltd. are among some of the major market participants.

Vendor Offerings

• Air Water Inc. - The company offers synthetic leather solutions through its subsidiary FILWEL.
• Alfatex Italia Srl - The company offers synthetic leather solutions to industries such as marine, automotive, and medical.
• Asahi Kasei Corp. - The company offers synthetic leather solutions such as DURANOL.

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Synthetic Leather Market 2023-2027: Market Dynamics

The customization of synthetic leather is a trend fueling the market growth. Design, color, luster, and texture can all be modified through customization and customized synthetic leather has grown in popularity among numerous application industries. Additionally, customers can also choose traditional gliding and embossing using digital processes like laser printing and cutting. Hence, these trends will boost the growth of the market during the forecast period. 

Factors such as fluctuating raw material prices will challenge market growth. Substrates such as polymer film and silicone are mainly used for the production of synthetic leather. Fluctuations in the prices of raw materials, including polymers such as PVC (polyvinyl chloride) and PU, are directly related to fluctuations in the price of crude oil. In addition, fluctuations in the prices of petroleum-based raw materials and the surging competition from local manufacturers, especially in developing economies, will pose a challenge to the market vendors.

For more details, and an understanding of Market Dynamics, download Sample reports

Synthetic Leather Market 2023-2027: Segmentation

Synthetic Leather Market is segmented as below:

• Product 
• PU-based
• PVC-based
• Bio-based
• End-user 
• Footwear Industry
• Furnishing Industry
• Automotive Industry
• Bags Industry
• Others
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

The PU-based segment will be significant for market growth during the forecast period. PU-based synthetics are lightweight. They can be made in a variety of colors and textures and is primarily utilized in the clothing, footwear, and auto industries. Furtermore, synthetic leather made from PU has a leather-like appearance, which results in many consumers are converting from animal-hide leather to synthetic leather. Hence, such factors boost the segment growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027)  – Download a Sample Report

Synthetic Leather Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist synthetic leather market growth during the next five years
• Estimation of the synthetic leather market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the synthetic leather market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the synthetic leather market, vendors

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Related Reports:
The bio-based leather market size should rise by USD 250.48 million from 2021 to 2026 at a CAGR of 6.55%. Furthermore, this report extensively covers market segmentation by application (footwear, furnishing, automotive, clothing, and others) and geography (North America, Europe, APAC, MEA, and South America). The environmental hazards associated with the use of normal leather is notably driving the bio-based leather market growth.

The coating agents for synthetic leather market size is expected to increase by USD 207.38 million from 2021 to 2026, at a CAGR of 7.12%. Furthermore, this report extensively covers coating agents for synthetic leather market segmentation by end-user (automotive, footwear, furniture and domestic upholstery, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The shift of consumer preference from animal hide to synthetic leather products is notably driving the coating agents for synthetic leather market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global synthetic leather market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global synthetic leather market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 End users Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End users Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 PU-based - Market size and forecast 2022-2027 
• Exhibit 34: Chart on PU-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on PU-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on PU-based - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on PU-based - Year-over-year growth 2022-2027 (%)

• 6.4 PVC-based - Market size and forecast 2022-2027 
• Exhibit 38: Chart on PVC-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on PVC-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on PVC-based - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on PVC-based - Year-over-year growth 2022-2027 (%)

• 6.5 Bio-based - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Bio-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Bio-based - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Bio-based - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Bio-based - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ billion)
• Exhibit 47: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 50: Chart on Comparison by End-user
• Exhibit 51: Data Table on Comparison by End-user

• 7.3 Footwear industry - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Footwear industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Footwear industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Footwear industry - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Footwear industry - Year-over-year growth 2022-2027 (%)

• 7.4 Furnishing industry - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Furnishing industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Furnishing industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Furnishing industry - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Furnishing industry - Year-over-year growth 2022-2027 (%)

• 7.5 Automotive industry - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Automotive industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Automotive industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Automotive industry - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Automotive industry - Year-over-year growth 2022-2027 (%)

• 7.6 Bags industry - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Bags industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Bags industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Bags industry - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Bags industry - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 68: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 72: Market opportunity by End-user ($ billion)
• Exhibit 73: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 75: Chart on Market share by geography 2022-2027 (%)
• Exhibit 76: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 77: Chart on Geographic comparison
• Exhibit 78: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 France - Market size and forecast 2022-2027 
• Exhibit 107: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027 
• Exhibit 111: Chart on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 119: Market opportunity by geography ($ billion)
• Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 121: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 123: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 124: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 125: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 126: Matrix on vendor position and classification

• 12.3 Air Water Inc.
• Exhibit 127: Air Water Inc. - Overview
• Exhibit 128: Air Water Inc. - Business segments
• Exhibit 129: Air Water Inc. - Key offerings
• Exhibit 130: Air Water Inc. - Segment focus

• 12.4 Alfatex Italia Srl
• Exhibit 131: Alfatex Italia Srl - Overview
• Exhibit 132: Alfatex Italia Srl - Product / Service
• Exhibit 133: Alfatex Italia Srl - Key offerings

• 12.5 Anhui Anli Material Technology Co. Ltd. 
• Exhibit 134: Anhui Anli Material Technology Co. Ltd. - Overview
• Exhibit 135: Anhui Anli Material Technology Co. Ltd. - Product / Service
• Exhibit 136: Anhui Anli Material Technology Co. Ltd. - Key offerings

• 12.6 Asahi Kasei Corp.
• Exhibit 137: Asahi Kasei Corp. - Overview
• Exhibit 138: Asahi Kasei Corp. - Business segments
• Exhibit 139: Asahi Kasei Corp. - Key offerings
• Exhibit 140: Asahi Kasei Corp. - Segment focus

• 12.7 KURARAY Co. Ltd.
• Exhibit 141: KURARAY Co. Ltd. - Overview
• Exhibit 142: KURARAY Co. Ltd. - Business segments
• Exhibit 143: KURARAY Co. Ltd. - Key offerings
• Exhibit 144: KURARAY Co. Ltd. - Segment focus

• 12.8 Lederplast Spa
• Exhibit 145: Lederplast Spa - Overview
• Exhibit 146: Lederplast Spa - Product / Service
• Exhibit 147: Lederplast Spa - Key offerings

• 12.9 Marvel Vinyls Ltd.
• Exhibit 148: Marvel Vinyls Ltd. - Overview
• Exhibit 149: Marvel Vinyls Ltd. - Product / Service
• Exhibit 150: Marvel Vinyls Ltd. - Key offerings

• 12.10 Mayur Uniquoters Ltd. 
• Exhibit 151: Mayur Uniquoters Ltd. - Overview
• Exhibit 152: Mayur Uniquoters Ltd. - Product / Service
• Exhibit 153: Mayur Uniquoters Ltd. - Key offerings

• 12.11 Nan Ya Plastic Corp.
• Exhibit 154: Nan Ya Plastic Corp. - Overview
• Exhibit 155: Nan Ya Plastic Corp. - Business segments
• Exhibit 156: Nan Ya Plastic Corp. - Key offerings
• Exhibit 157: Nan Ya Plastic Corp. - Segment focus

• 12.12 San Fang Chemical Industrial Co. Ltd. 
• Exhibit 158: San Fang Chemical Industrial Co. Ltd. - Overview
• Exhibit 159: San Fang Chemical Industrial Co. Ltd. - Product / Service
• Exhibit 160: San Fang Chemical Industrial Co. Ltd. - Key offerings

• 12.13 Teijin Ltd.
• Exhibit 161: Teijin Ltd. - Overview
• Exhibit 162: Teijin Ltd. - Business segments
• Exhibit 163: Teijin Ltd. - Key offerings
• Exhibit 164: Teijin Ltd. - Segment focus

• 12.14 Toray Industries Inc. 
• Exhibit 165: Toray Industries Inc. - Overview
• Exhibit 166: Toray Industries Inc. - Business segments
• Exhibit 167: Toray Industries Inc. - Key offerings
• Exhibit 168: Toray Industries Inc. - Segment focus

• 12.15 Uniroyal Global Engineered Products Inc. 
• Exhibit 169: Uniroyal Global Engineered Products Inc. - Overview
• Exhibit 170: Uniroyal Global Engineered Products Inc. - Product / Service
• Exhibit 171: Uniroyal Global Engineered Products Inc. - Key offerings

• 12.16 Zhejiang Hexin Industry Group Co. Ltd. 
• Exhibit 172: Zhejiang Hexin Industry Group Co. Ltd. - Overview
• Exhibit 173: Zhejiang Hexin Industry Group Co. Ltd. - Product / Service
• Exhibit 174: Zhejiang Hexin Industry Group Co. Ltd. - Key offerings

• 12.17 Zhejiang Yongfa Synthetic Leather Co. Ltd. 
• Exhibit 175: Zhejiang Yongfa Synthetic Leather Co. Ltd. - Overview
• Exhibit 176: Zhejiang Yongfa Synthetic Leather Co. Ltd. - Product / Service
• Exhibit 177: Zhejiang Yongfa Synthetic Leather Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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