Global Synthetic Leather Market Size was valued nearly USD 24,680 million by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.90% during the forecast period, i.e. 2017-2025. Synthetic Leather is also referred as artificial leather or manmade leather. It is a direct and close substitute for leather in various applications. Artificial leather is marketed under various names such as PU leather and other names. It is a type of processed leather that requires plasticizer in order to make it highly flexible soft.  

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global synthetic leather market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global synthetic leather market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.   

Market Dynamics

Synthetic Leather market was valued at around USD 24,680 million in the year 2017, and it is anticipated grow at CAGR of 6.90% during the assessment period of 2017-2025. Wide application area of synthetic leather and its adoption as a direct substitute to the natural leather driving its adoption among consumers. Synthetic leather is a cost effective solution for consumers who are looking for cheaper alternative. High demand of synthetic leather in footwear industry is the prominent market driving the demand for synthetic leather. Availability of large number of footwear brand and products at relatively lower price stimulated its sales every year thereby driving the artificial leather consumption.

Automotive industry is also an emerging consumer of artificial leather which is expected to shape growth dynamics of the global synthetic leather market. In automotive assembly synthetic leather is significantly used in the interior applications to complete the vehicle assembly. Hence, rise in the automotive production further expected to drive the demand for artificial leather. Besides this, furnishing and clothing application segments that expected to contribute considerably during the forecast period. However, bio-based synthetic leather is expected to grow at highest CAGR during the forecast period on account of stringent regulation for the use of eco-friendly products.

Segment Analysis 

Based on product, the Synthetic Leather market is segmented into PU Synthetic Leather, PVC Synthetic Leather, and Bio Based Synthetic leather. Polyurethane synthetic leather is the largest in this market due to its associated with properties and high softness. Bio-based synthetic leather complies all the policies standardized by the regulatory bodies and is ideal products used as a eco-friendly product. Its demand is expected to be relatively high due to its eco-friendly nature. 

Market segmentation based on the application includes furnishing, automotive, footwear, clothing, bags and wallet, and others. Footwear application segment acquired largest market share and is expected to maintain dominance during the assessment period. Footwear manufacturers are aiming to increase their production capacity due to high demand for footwear from each population category. Automotive, on the other hand, projected to exhibit highest growth rate over the coming years.

Regional Analysis

Asia-Pacific accounted for the largest market share both in terms of value and volume in the global synthetic leather market in 2017. Asia-Pacific region has a presence established automotive and footwear industry which are major application segment of the synthetic leather. China and India collectively represented high automotive consumption as well as production stats as of 2017 by providing scope for synthetic leather consumption. On the hand, high population growth in these two countries has been generating demand for footwear significantly.

Global Synthetic Leather Market Size, Share Analysis By Region 2017

Europe expected to be the next largest market in terms of revenue. Germany, UK, Italy and Spain are some of the key economies in this region. Europe region known for the presence of several regulatory bodies that regulating the strict policies against environmentally harmful product. This in turn helps to penetrate bio based products i.e. bio based leather.

Global Synthetic Leather Market Study Objective

1. To forecast the market size of synthetic leather market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of synthetic leather market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of synthetic leather market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of synthetic leather market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the synthetic leather market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of synthetic leather market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of synthetic leather market commercially.

Key Players

Major players analyzed and profiled in the global Synthetic Leather market include Kuraray Co. Ltd., H.R. Polycoats Pvt. Ltd., Mitsubishi Chemicals Corp., Hanwa Chemical Corp., Alfatex Italia, Yantai Wanhua Group Co. Ltd., Nan Ya Plastis Corp., Tejinin Ltd

Global Synthetic Leather Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.