Synthetic Leather Market Forecast Report By Share, Product, Application, Trend and Demand, 2025

Felton, Calif., USA, May. 10, 2021 — /EPR Network/ —

The global Synthetic Leather Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Synthetic Leather Market is expected to reach USD 85.05 billion by 2025. Synthetic leather is also termed as an artificial leather or rexine, leatherette, or faux leather is manufactured using polyurethane (PU) or PVC, which is treated and dyed to look like real leather. It is versatile leather made from tanned animal hides. It is exclusively used in fashion industries for products like wallets, shoes, luggage, jackets, sofas and electronic cases, and car interiors.

Key Players:

• Kuraray Co. Ltd.
• R. Polycoats Pvt. Ltd
• Alfatex Italia SRL
• Filwel Co. Ltd
• Yantai Wanhua Synthetic Leather Group Co. Ltd.
• San Fang Chemical Industry Co. Ltd
• Mayur Uniquoters Limited
• Nan Ya Plastics Corporation
• Zhejiang Hexin Industry Group Co. Ltd
• Teijin Limited

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Growth Drivers:

The Synthetic Leather Market is estimated to grow at a significant CAGR of 9.5% over the forecast period as the scope and its applications are rising enormously across the globe. Rising demand for lightweight leather in automobile industry, changing lifestyle as increasing number of passenger cars, growing demand for luxurious goods, and increasing population in developing countries like India and China are documented as major factors of Synthetic Leather Market that are estimated to enhance the growth in the years to come. However, harmful effects of PVC and PU processing on human health and environment may restrain overall market in the coming years. Synthetic Leather industry is segmented based on type, end-user, and region.

Application Outlook:

• Furnishing
• Automotive
• Footwear
• Bags & wallets
• Clothing

Footwear accounted for the substantial market share of Synthetic Leather and is estimated to lead the overall market in the coming years. This may be because of changing lifestyle, varying climatic conditions, and rising disposable income.

Product Outlook:

• PU
• PVC
• Bio based

PU-based sector accounted for the largest market share of Synthetic Leather and is estimated to lead the overall market in the coming years. Also, the sector is estimated to grow at highest CAGR in the coming years. This may be because of high demand from developed countries like Europe and North America and rising fashion and automotive industries.

Regional Outlook:

Globally, Asia Pacific accounted for the substantial market share of Synthetic Leather in terms of value and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be enhanced technological innovations and presence of key manufacturers in the region. The developing countries like India and China are the major consumers of Synthetic Leather in the region.

Instead, Europe and North America are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, North America is estimated to grow at fastest pace with the highest CAGR in the foremost period.

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