Synthetic Leather Market to Reach $208 Billion by 2026 - Growing Demand From the Footwear & Automotive Industry - Research and Markets

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Dec 15, 2016, 10:10 ET

DUBLIN, Dec 15, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Synthetic Leather Market - Global Forecast to 2026" report to their offering.

The global synthetic leather market was USD 51.81 Billion in 2015, and is projected to reach USD 208.81 Billion by 2026, at a CAGR of 13.4% from 2016 to 2026. The growing demand from the footwear and automotive industry, coupled with cost effectiveness is expected to drive the global synthetic leather market.

Currently, the Asia-Pacific region is the largest synthetic leather market, in terms of value, closely followed by Europe. The Asia-Pacific region is characterized by the technological innovations in the synthetic leather industry and the presence of some of the major players in the region. North America is expected to witness a moderate growth rate.

The Asia-Pacific region is expected to be the fastest-growing synthetic leather market, which is backed by the high demand for synthetic leather in the footwear, automotive, and construction industries. The demand from major emerging countries such as, China, India, and South Korea also drives the synthetic leather market in the region.

The major restraints in the market are the harmful effects of PU and PVC processing on the environment and human health. Many countries in Europe and North America have strict government regulations regarding the use of toxic chemicals such as PVC and PU. Companies are focusing on new product development as a major strategy to strengthen their market positions in the global synthetic leather industry. The development of bio-based, and upgraded & customized products provide high growth opportunities to synthetic leather manufacturers.

Companies Mentioned:

Alfatex
Filwel Co. Ltd
H.R.Polycoats Pvt. Ltd.
Kuraray Co., Ltd.
Mayur Uniquoters Limited
Nan Ya Plastics Industrial Co., Ltd.
San Fang Chemical Industry Co., Ltd.
Teijin Limited
Yantai Wanhua Synthetic Leather Group Co., Ltd
Zhejiang Hexin Industry Group Co., Ltd.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Synthetic Leather Market, by Type

7 Synthetic Leather Market, by Application

8 Regional Analysis

9 Competitive Landscape

10 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/8dl668/synthetic_leather

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Laura Wood, Senior Manager
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SOURCE Research and Markets