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Synthetic Leather Market by Growth & Regional Forecast To 2025

Author : Rahul Varpe | Published Date : 2019-12-02 

Global Market Insights, Inc. has recently added a new report on synthetic leather market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of synthetic leather industry.

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.

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.

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Global apparel market may witness significant gains at over 4%. As per industry statistics, the U.S. apparel market generated over USD 230 billion in 2015 and may witness above average gains at over 2%. Rise in fashion consciousness along with increasing various brands and distribution channels is likely to drive industry growth. Synthetic leather is widely used in jackets, belts, pants and tops due to prevailing fashion trend which may favor product demand.

Polyurethane (PU) synthetic leather accounted for majority of the demand in 2015. It is made with soft polymers and possess key properties such as lightweight, waterproof and does not crack or fade on light. exposure It is extensively used in clothing and automotive industries. Increasing bio-based products demand due to growing environmental concerns may fuel product demand. However, PU based products are costly due to extensive production process which may pose challenge to industry growth.

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.

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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.

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.

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.

The Synthetic Leather Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Synthetic Leather Market Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2019 - 2025
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2019
3.11. PESTEL analysis
3.14. Regional price trends
1. Synthetic Leather Regional Insights
2. Competitor Profiles

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]

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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