Bio-Based Leather Market: Quantitative Market Analysis, Current and Future Trends

Competitive landscape

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the microfiber synthetic leather space.

Key players in the global microfiber synthetic leather market includes

• Huafon Group
• Kuraray
• Toray
• Wenzhou Imitation Leather
• Alfatex
• Zhejiang Hexin Industry Group Co. Ltd.
• Anhui Anli Material Technology Co.Ltd.
• Kunshan Xiefu Artificial Leather Co. Ltd.
• Shandong Tongda Textile Machinery (group) Co.Ltd.
• Tongda Island
• Double Elephant
• Topsun Micro Fiber
• Yantai Wanhua Synthetic Leather Group Co. Ltd.
• Teijin Cordley
• Asahi Kasei Mayur Uniquoters Limited
• Xiangyu Xinghong
• Clarino
• Kolon Industries
• San Fang Chemical Industry Co. Ltd.
• Wanhua Micro Fiber
• Jeongsan International
• Meisheng Group
• FILWEL
• Huafeng Group
• Fujian Tianshou
• Ecsaine
• Sanling Micro Fiber
• SISA
• NPC
• Ecolorica
• H.R.Polycoats Pvt. Ltd.

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In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities.

Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global microfiber synthetic leather market.

The global microfiber synthetic leather market is segmented as follows:

On the basis of product type the market is segmented into the following:

• Bio-Based Leather
• PU Synthetic Leather
• PVC-Based Synthetic Leather

PVC-Based Synthetic Leather accounts for one-third of total microfiber synthetic leather market. However, Microfiber Synthetic Leather market is expected to expand at a CAGR of 4.9% over the forecast period.

On the basis of Application, the market is segmented as follows:

• Clothing
• Furnishing
• Bags, Purses & Wallets
• Footwear
• Automotive
• Other Applications

Furnishing segment is expected to dominate microfiber synthetic leather market over the forecast period. However, rapidly growing number of automotive requirements are creating high growth opportunities for microfiber synthetic leather market.

Regions covered in the report are as follows:

• North America
• Latin America
• Europe
• Japan
• Asia Pacific excluding Japan
• Middle East & Africa

Automotive segment displays rapid growth in demand

Global microfiber synthetic leather market can be geographically segmented into North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, Middle East and Africa.

Products in global microfiber synthetic leather market and can be segmented into bio-based leather, PU synthetic leather and PVC-based synthetic leather where PVC-based synthetic leather owns one-third of the total microfiber synthetic leather market. Microfiber synthetic leather have varied applications. They can be used in clothing, furnishing, bags and automotive. Increase in disposable income allows individuals to splurge on luxury to create status symbol. Furnishings segment has displayed rapid growth and is expected to dominate the market for the forecast period 2017-2026. Technological advancements have turned out to be a boon for automotive segment and new innovation have been introduced. This in turn has shot up the automotive requirements. Increased demand in automotive is generating great opportunities in global microfiber synthetic leather market.

Advancement in processing technology boosts global market

Processing technology of microfiber synthetic leather has been ever-evolving. The dying properties of synthetic leather restrict development of leather base which arises need for alternative dyeing and finishing techniques. Hydrogen collagen extracted from leather base is eyed as a natural biomass alternative that is non-toxic and contains active groups like carboxyl and amino that display outstanding properties such as biocompatibility and hydrophilicity. It significantly improves the dying property along with reducing environmental impact.