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Synthetic Leather Market : What Will Be The Future Growth Opportunities?

Author : Rahul Varpe | Published Date : 2019-03-26 

Europe led by France, Italy, UK and Germany synthetic leather market may witness steady growth. Rise in international fashion brands in apparels and bags along with stringent regulation promoting bio based product use may stimulate regional growth.

APAC, led by India, Japan and China synthetic leather market may show significant gains. Growing automotive production along with rise in disposable income mainly in India and China may fuel regional growth. Positive outlook regarding R&D spending and technological innovations accompanied with strict regulations regarding animal welfare may fuel industry growth. China, Taiwan, India, Thailand, and Indonesia are major importers of raw hide and skins in Asia Pacific.

North America, driven by the U.S. synthetic leather market may witness moderate growth rates. Positive application outlook in footwear, furnishing and automotive industries should drive regional growth. Rising concerns regarding animal killing may reduce pure skins consumption and favor regional demand.  

To access the table of contents or view the Synthetic Leather Market report in detail, please click the link below: www.gminsights.com/request-toc/upcoming/1282

Global Synthetic Leather Market size may witness strong gains as it is used as a substitute for conventional product derived from livestock, does not require animal hide for production and is available at competitive price.

Global leather goods market may surpass USD 95 billion by 2024, with gains at over 5%. Change in lifestyle along with rise in men and women’s accessories demand including gloves may drive industry growth. U.S. exports skins and hides and generated over USD 3.5 billion in 2015.

Footwear industry may witness steady gains and accounts for a major chunk in synthetic leather market size. Global footwear market may surpass USD 375 billion in business by 2024 with registering over 5% gains. Changing consumer lifestyle and increasing fashion trends may favor industry growth. Rise in demand for stylish, better fit and comfortable shoes should drive synthetic leather demand.

Global automotive interior leather market was valued at over USD 25 billion in 2015 and may exceed USD 40 billion in business by 2024, and register close to 5.5% growth. Rise in automotive production for both domestic and public transport along with increasing consumer spending should have a positive influence on synthetic leather market size. Low cost, ease to use & clean characteristics and easy availability promotes its use in seats, belts, airbags and covers thereby contributing towards industry growth in automobile applications.  

Key players operating in global synthetic leather market share include Kuraray, Tejin, Toray, Favini, Mayur Uniquoters, Filwel and San Fang Chemicals. Other prominent companies include Alflatex, HR Polycoats, Dunksung and Daewon Chemicals.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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