IMARC Group, a leading market research company, has recently releases report titled “Synthetic Leather Market Report by Type (Bio-Based, Polyvinylchloride (PVC) Based, Polyurethane (PU) Based), Application (Clothing, Bags, Shoes, Purses and Wallets, Accessories, Car Interiors, Belts, Sports Goods, and Others), End Use Industry (Footwear, Furniture, Automotive, Textile, Sports, Electronics, and Others), and Region 2024-2032” Offers a comprehensive analysis of the industry, which comprises insights on the global synthetic leather market share.
How Big is the Synthetic Leather Market?
The global synthetic leather market size reached US$ 39.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
Industry Overview of Synthetic Leather
Synthetic leather, also referred to as faux or artificial leather, is a man-made material designed to replicate the look and feel of genuine leather. It is created by combining various synthetic materials through advanced manufacturing processes. It offers a cruelty-free alternative to traditional leather while still providing a similar aesthetic appeal. It is often more budget-friendly than genuine leather, allowing individuals to enjoy the look and feel of leather without the higher price tag. It can be easily dyed and textured to achieve specific colors and patterns, providing greater design flexibility for various applications. It is more uniform in texture and appearance, ensuring a consistent look across products.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/synthetic-leather-market/requestsample
What are the growth prospects and trends in the synthetic leather industry?
At present, the increasing demand for synthetic leather, as it is resistant to cracking, fading, and wear, making it a durable choice for products that experience regular use, represents one of the crucial factors impelling the market growth in India.
Besides this, the rising utilization of synthetic leather for manufacturing jackets, pants, skirts, and accessories, such as belts, bags, and shoes, is supporting the growth of the market. In addition, the growing employment of synthetic leather for upholstering sofas, chairs, and other seating options is offering a favorable market outlook.
Apart from this, the increasing adoption of synthetic leather in the automotive sector in car interiors for seats, steering wheels, and dashboards, offering a luxurious feel and appearance, is bolstering the growth of the market.
Leading Companies Operating in the Global Synthetic Leather Industry:
- Asahi Kasei Corporation
- DuPont Tate & Lyle Bio Products Company LLC
- FILWEL Co. Ltd. (Air Water Inc.)
- H.R. Polycoats Pvt. Ltd.
- Kuraray Co. Ltd.
- Mayur Uniquoters Limited
- Nan Ya Plastics Corporation
- San Fang Chemical Industry Co. Ltd.
- Teijin Limited
- Zhejiang Hexin Holdings Co. Ltd.
Synthetic Leather Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Bio-Based
- Polyvinylchloride (PVC) Based
- Polyurethane (PU) Based
Breakup by Application:
- Clothing
- Bags
- Shoes
- Purses and Wallets
- Accessories
- Car Interiors
- Belts
- Sports Goods
- Others
Breakup by End Use Industry:
- Footwear
- Furniture
- Automotive
- Textile
- Sports
- Electronics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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