Market Values:
The Synthetic Leather Market, valued at US$ 50.09 Bn. in 2022, is anticipated to experience a growth at a CAGR of 4.54%.
Report Scope: Synthetic leather, also known as leatherette, vegan leather, faux leather, PU leather, or pleather, is gaining universal acceptance as an alternative to genuine leather. This comprehensive report explores the market dynamics, regional insights, and key findings in the Synthetic Leather industry, focusing on market growth drivers, emerging trends, and the scope for sustainable alternatives.
Research Methodology: The report employs a robust research methodology, incorporating a blend of primary and secondary research. Industry experts, key stakeholders, and market participants were engaged to gather critical insights. The analysis also integrates PORTER, PESTEL analysis, and an assessment of the potential impact of micro-economic factors on the market.
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Dynamics: The market dynamics are driven by the development of bio-based synthetic leather, influenced by stringent environmental regulations. Key players are adopting eco-friendly approaches in manufacturing, focusing on materials like polyurethane (PU) and polyvinyl chloride (PVC), leading to the emergence of bio-based leather. Government initiatives, such as the Indian Footwear, Leather, and Accessories Development Programme, are further boosting sustainability efforts in the leather and footwear sector.
Regional Insights: Asia Pacific Dominates the Market
Asia Pacific, driven by high population growth and innovative technology, stands as the dominating destination for synthetic leather industry investment. China, the largest leather-producing country, and India, contributing significantly to the global leather and footwear production, showcase immense market potential. The region’s emphasis on sustainability, rise of vegan leather, and cruelty-free alternatives positions it as a key player in the synthetic leather market.
Market Segment Analysis: Footwear Industry Leading Growth
The footwear industry emerges as a significant contributor to synthetic leather growth, accounting for over 35% share in 2022. Increasing disposable income and a shift in customer preferences towards sustainable and cruelty-free alternatives are driving the demand for synthetic leather footwear. Developing nations like China and India present lucrative opportunities for footwear brands, contributing to the overall growth of the synthetic leather market.
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What is Synthetic Leather Market Segmentation?
by Type
PU (polyurethane)
PVC (polyvinyl chloride)
Bio based
by Application
Furnishing
Automotive
Foot wear
Bags & wallets
Clothing
Others
Who are Synthetic Leather Market Key Players?
1. Kuraray Co., Ltd.
2. Asahi Kasei Corporation
3. San Fang Chemical Industry Co., Ltd.
4. Toray Coatex Co. Ltd.
5. H.R. Polycoats Pvt. LTD.
6. ALFATEX
7. Filwel Co., Ltd.
8. Teijin Limited
9. Mayur Uniquoters Ltd.
10.Nan Ya Plastics Co. Ltd.
11.Filwel Co. Ltd.
12.Zhejiang Hexin Industry Group Co., Ltd.
13.Alfatex
14.H.R. Polycoats Pvt. Ltd.
15.Yantai Wanhua Synthetic Leather Group Co. Ltd.
16.Kolon Industries Inc
17.Toray Industries Inc
18.Anhui Material Type Co., Ltd.
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Table of content for the Synthetic Leather Market includes:
- Global Synthetic Leather Market : Research Methodology
- Global Synthetic Leather Market : Executive Summary
- Market Overview and Definitions
- Introduction to the Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Synthetic Leather Market : Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Offerings:
- Past Market Size and Competitive Landscape
- Synthetic Leather Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Synthetic Leather Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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