The global synthetic leather market size reached US$ 37.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 48.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Synthetic leather, also called faux, artificial, rexine leather, or leatherette, is a material that has a similar appearance to leather but is not animal-made. It is composed of natural or synthetic fibers that are coated with plastic polymer. Usually, synthetic leather is primarily made from two types of materials - polyurethane (PU) and polyvinylchloride (PVC). Polyurethane leather or PU leather made of thermoplastic polymer is entirely manmade and offers the look and feel of genuine leather. Having a glossier appearance and less thickness than real leather, it is waterproof and easily washable. PU leather is extensively used in the making of furniture and shoes. In contrast, PVC leather is made from vinyl, which is less expensive and a good alternative to genuine leather. When altered with various fillers to change the texture, color, form, and effects, it can be used to manufacture various leather goods. Synthetic leather provides numerous benefits, such as enhanced durability and resistance to water, heat, severe climatic conditions, and UV (ultraviolet) rays.
Synthetic leather, also called faux, artificial, rexine leather, or leatherette, is a material that has a similar appearance to leather but is not animal-made. It is composed of natural or synthetic fibers that are coated with plastic polymer. Usually, synthetic leather is primarily made from two types of materials - polyurethane (PU) and polyvinylchloride (PVC). Polyurethane leather or PU leather made of thermoplastic polymer is entirely manmade and offers the look and feel of genuine leather. Having a glossier appearance and less thickness than real leather, it is waterproof and easily washable. PU leather is extensively used in the making of furniture and shoes. In contrast, PVC leather is made from vinyl, which is less expensive and a good alternative to genuine leather. When altered with various fillers to change the texture, color, form, and effects, it can be used to manufacture various leather goods. Synthetic leather provides numerous benefits, such as enhanced durability and resistance to water, heat, severe climatic conditions, and UV (ultraviolet) rays.
Synthetic Leather Market Trends:
The market is primarily driven by the growing product demand from the footwear industry. Along with this, the increasing demand for luxury automotive and electric vehicles is facilitating the need for fancy leatherette car seats, which, in turn, is positively influencing the market. Additionally, with the evolving textile technologies, there has been a paradigm shift towards vegan fashion, which is fostering widespread product adoption across the globe. The augmenting demand for spandex clothes and competitive swimsuits is also propelling the product demand. Apart from this, stringent animal welfare laws enforced worldwide are further boosting the demand for synthetic alternatives, thereby creating a positive outlook for the market. Furthermore, rapid urbanization, rising environmental concerns among individuals, the growing awareness regarding sustainable fashion, and increasing investments in extensive research and development (R&D) activities are some of the other factors significantly contributing to the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global synthetic leather market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end use industry.Breakup by Type:
- Bio-Based
- Polyvinylchloride (PVC) Based
- Polyurethane (PU) Based
Breakup by Application:
- Clothing
- Bags
- Shoes
- Purses and Wallets
- Accessories
- Car Interiors
- Belts
- Sports Goods
- Others
Breakup by End Use Industry:
- Footwear
- Furniture
- Automotive
- Textile
- Sports
- Electronics
- Others
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Asahi Kasei Corporation, DuPont Tate & Lyle Bio Products Company LLC, FILWEL Co. Ltd. (Air Water Inc.), H.R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co. Ltd., Teijin Limited and Zhejiang Hexin Holdings Co. Ltd.Key Questions Answered in This Report:
- What was the size of the global synthetic leather market in 2022?
- What is the expected growth rate of the global synthetic leather market during 2023-2028?
- What are the key factors driving the global synthetic leather market?
- What has been the impact of COVID-19 on the global synthetic leather market?
- What is the breakup of the global synthetic leather market based on the type?
- What is the breakup of the global synthetic leather market based on the application?
- What is the breakup of the global synthetic leather market based on the end use industry?
- What are the key regions in the global synthetic leather market?
- Who are the key players/companies in the global synthetic leather market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Synthetic Leather Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Asahi Kasei Corporation
- DuPont Tate & Lyle Bio Products Company LLC
- FILWEL Co. Ltd. (Air Water Inc.)
- H.R. Polycoats Pvt. Ltd.
- Kuraray Co. Ltd.
- Mayur Uniquoters Limited
- Nan Ya Plastics Corporation
- San Fang Chemical Industry Co. Ltd.
- Teijin Limited and Zhejiang Hexin Holdings Co. Ltd.
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 142 |
Published | May 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 37.6 Billion |
Forecasted Market Value ( USD | $ 48.4 Billion |
Compound Annual Growth Rate | 4.3% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |