Data Bridge Market Research analyses that the synthetic leather market was valued at USD 29.19 billion in 2021 and is expected to reach the value of USD 53.23 billion by 2029, at a CAGR of 7.80% during the forecast period of 2022 to 2029.
Synthetic leather is a man-made material that is frequently made of polyvinyl chloride (PVC) or polyurethane (PU). It is man-made leather that resembles genuine leather. Synthetic leather is coloured and treated to look like genuine leather. This type of leather is also known as vegan leather, faux leather, leatherette, and leather.
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Some of the major players operating in the synthetic leather market are:
- San Fang Chemical Industry Co. Ltd. (Taiwan)
- Teijin Limited (Japan)
- Mayur Uniqueness Limited (India)
- NAN YA plastics corporation (Taiwan)
- Falwell Co. Ltd. (Japan)
- Zhejiang Hexing Industry Group Co., Ltd. (China)
- Alate N.V. (Belgium)
- H.R. Polycot’s Pt. Ltd. (India)
- Yantai Wan Hua Synthetic Leather Group Co. Ltd. (China)
- KURARAY CO LTD (Japan)
Global Synthetic Leather Market Scope:
The synthetic leather market is segmented on the basis of type and end users. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Polyurethane
- Polyvinyl Chloride Based
- Bio-based
End users
- Footwear
Sports shoes
formal shoes boots
sandals slippers
- Furnishing
Chairs
Sofas
Bean Bags
Other
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Synthetic Leather Market Regional Analysis/Insights:
The synthetic leather market is analysed and market size insights and trends are provided by country, component, processor type, application and end users as referenced above.
The countries covered in the synthetic leather market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America dominates the global market and is expected to continue to do so throughout the forecast period. Increasing RD investments in miniaturised ICs are expected to drive demand for micro server IC systems in this region. On the other hand, Asia-Pacific is expected to grow the fastest during the forecast period. One of the main factors driving market growth is the increased deployment of data centres in developing countries.
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