Global Synthetic Leather Market Anticipated to Gain Burgeoning Growth: Automotive and Footwear Industries Driving Demand 2016 – 2025

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Albany, New York, October 23, 2017: The synthetic or artificial leather is a fabric or finish intended to substitute for leather. Nowadays, synthetic leather has gained extensive popularity and is often used as a substitute for real leather because it is less expensive and does not need any real animal hide. At present, it has become the popular choice for many manufacturers active in the automobile and footwear industry. To provide a detailed analysis of the market structure, analysts have prepared a study titled “Synthetic Leather Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025”, which has been now published to the online repository of Market Research Hub (MRH). The study provides a complete perspective on global synthetic leather market’s evolution throughout the above-mentioned forecast period in terms of revenue (in US$ Mn).

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Initially, the report comprises an elaborate executive summary which includes market snapshot that provides information about various segments. The geographical segmentation is also included in the report which analyzes the scope of the market and includes the current and forecast demand for synthetic leather in North America, Europe, Asia Pacific, Latin America, and Middle East (ME), and Africa. As per the study findings, the demand in the global synthetic leather market will boost at a notable CAGR of 6.9% during the forecast period of 2017 to 2022. Increasing from its evaluated worth of US$74.6 bn in 2016, the valuation of the synthetic leather market is estimated to reach US$136.7 bn by 2022.

Synthetic leather, also known as faux leather is a man-made artificial leather that looks like natural leather. Its surface is treated and dyed with certain additives to provide them a natural look just as natural leather. They are available in a variety of colors, leading to them being used in a wide number of end-use/industries such as footwear, automobile, garments, and fashion accessories such as bags, wallets, etc. Additionally, the study provides a comprehensive view of the synthetic leather market by dividing it into product type, end-use and above-mentioned geographies. Based on product type, synthetic leather market include Polyurethane and polyvinyl chloride. Between these two, polyurethane is now being commonly employed by the automotive industry as it is softer and offers a non-sticky feeling, unlike an animal-skin-based leather.

Moreover, the report analyzes opportunities present in the synthetic leather market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. One of the major factors identified by the study is the rising demand for low VOC emission from interior automobile materials coupled with stringent regulations on CO2 emission in the natural leather tanning industry are pushing manufacturers to opt for revolutionary materials further anticipated to drive the synthetic leather market. In terms of geography, research identifies that Asia Pacific is currently the most profitable region, gaining traction from increasing population coupled with rising disposable income in countries such as China, India, Vietnam and Thailand.

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Key players are also mentioned in the report along with their market positioning, growth strategies and recent developments. Key players profiled in the report include Kuraray, Alfatex, Asahi Kasei Corporation, Toray Coatex Co. Ltd., H.R. Polycoats Pvt. Ltd., San Fang Chemical Industry Co., Ltd., and Filwel Co., Ltd.

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