Global Synthetic Leather Market Synopsis
The global market for Synthetic Leather estimated at USD 38978.9 Million in 2023 is projected to reach a revised size of USD 51210 Million by 2030, growing at a CAGR of 5.61% over the period 2023-2030.
Synthetic leather, also known as faux leather or artificial leather, is a man-made material designed to look and feel like real leather. It is a type of fabric that is made by applying a coating of plastic or polymer to a base material such as fabric or paper. The base material is then treated with various chemicals to make it more durable, flexible, and resistant to wear and tear.
- The most common types of synthetic leather are polyurethane (PU) leather and polyvinyl chloride (PVC) leather. PU leather is made by coating a fabric or paper base material with a layer of polyurethane, while PVC leather is made by coating a fabric or paper base material with a layer of PVC. Other types of synthetic leather include bio-based leather, which is made from natural materials such as pineapple leaves or mushrooms, and other innovative materials such as silicone leather.
- Synthetic leather is widely used in the manufacturing of various products such as shoes, handbags, furniture, and automotive upholstery. It is a popular alternative to real leather due to its affordability, durability, and ease of maintenance. Additionally, synthetic leather is considered to be more environmentally friendly than real leather because it does not involve the use of animal products.
- The Global Synthetic Leather Market has been growing steadily over the years, driven by various factors such as increasing demand for leather substitutes, growing concerns over animal welfare, sustainability and environmental issues, and technological advancements in the production of synthetic leather.
Top Key Players Involved Are:
"Kuraray Co. Ltd. (Japan), San Fang Chemical Industry Co. Ltd. (Taiwan), Mayur Uniquoters Ltd. (India), NAN YA PLASTICS CORPORATION (Taiwan), Teijin Limited (Japan), Filwel Co. Ltd. (Japan), Alfatex (Italy), Zhejiang Hexin Industry Group Co. Ltd. (China), DuPont de Nemours Inc. (USA), Yantai Wanhua Synthetic Leather Group Co.Ltd. (China), Toray Industries Inc. (Japan), H.R. Polycoats Pvt. Ltd. (India), Archilles Corporation (Japan), Favini S.r.l. (Italy), AICA Kogyo Co.Ltd. (Japan), and Other key players."
Global Synthetic Leather Market Trend Analysis
Rising demand for animal-free and sustainable products
The rising demand for animal-free and sustainable products is a major driver of the Global Synthetic Leather Market. This is because synthetic leather is seen as a viable alternative to traditional leather and is increasingly being used in various industries, including fashion, automotive, and furniture.
- There is a growing awareness among consumers about animal welfare, sustainability, and environmental issues associated with the production of traditional leather. As a result, more and more people are looking for animal-free and eco-friendly products, and synthetic leather is becoming an attractive alternative.
- Synthetic leather is made from synthetic materials such as polyurethane, PVC, and microfiber, and does not require the use of animal hides. This makes it a more sustainable and environmentally friendly option compared to traditional leather, which involves the use of chemicals and large amounts of water in the production process.
- In addition to being animal-free and sustainable, synthetic leather also offers several advantages over traditional leather. It is generally more durable, lightweight, and breathable, and can be made in a variety of colors and textures. These properties make it an attractive choice for various applications, from footwear to automotive upholstery.
- Overall, the rising demand for animal-free and sustainable products is driving the growth of the Global Synthetic Leather Market, as more and more consumers and businesses seek out eco-friendly and socially responsible alternatives to traditional leather.
Growing Demand for Sustainable and Eco-Friendly Materials
The growing demand for sustainable and eco-friendly materials is a significant opportunity for the Global Synthetic Leather Market, as it is driving demand for synthetic leather as a more sustainable and eco-friendlier alternative to traditional leather.
- Consumers are becoming increasingly aware of the environmental impact of their choices and are seeking out products that are more sustainable and eco-friendlier. Synthetic leather is seen as a more sustainable option compared to traditional leather, which requires the use of animal hides and involves the use of chemicals and large amounts of water in the production process.
- The demand for sustainable and eco-friendly materials is expected to continue growing, as consumers become more conscious of the impact of their choices on the environment. This presents a significant opportunity for companies in the synthetic leather market, as they can cater to this demand by investing in sustainable materials and innovation.
- Overall, the growing demand for sustainable and eco-friendly materials is driving the Global Synthetic Leather Market, as more and more consumers and businesses seek out sustainable alternatives to traditional leather. The market is responding to this demand by investing in sustainable materials and innovation and is expected to continue growing in the forecast period 2023-2032.
Segmentation Analysis Of Global Synthetic Leather Market
Global Synthetic Leather Market segments cover the Type and application. By Type, the polyurethane (PU) segment is Anticipated to Dominate the Market Over the Forecast period.
- Polyurethane synthetic leather is a high-performance material that is widely used in the footwear, automotive, and furnishing industries due to its properties such as durability, flexibility, and resistance to water and abrasion. PU synthetic leather is also easier to dye and print, which makes it a popular choice for designers.
- In the footwear industry, PU synthetic leather is commonly used for athletic shoes, boots, and sandals. The demand for PU synthetic leather in the footwear industry is driven by the growing demand for comfortable, durable, and stylish shoes.
- In the automotive industry, PU synthetic leather is used in the production of car seats, door panels, and dashboard covers. The demand for PU synthetic leather in the automotive industry is driven by the increasing demand for lightweight and fuel-efficient vehicles, as well as the desire to create more luxurious and comfortable interiors.
- In the furnishing industry, PU synthetic leather is used for upholstery, wall coverings, and decorative items. The demand for PU synthetic leather in the furnishing industry is driven by the growing demand for affordable and durable furniture.
- In conclusion, the PU segment is dominating the Global Synthetic Leather Market due to its superior properties and widespread use in various applications. The segment is expected to continue dominating the market in the future, driven by the growing demand for high-performance and sustainable materials in various industries.
Regional Analysis of The Global Synthetic Leather Market
Asia Pacific is Expected to Dominate the Market Over the Forecast Period.
- Asia Pacific is driving the Global Synthetic Leather Market due to the presence of a large number of manufacturers, increasing demand for synthetic leather products, and growing industrialization and urbanization in the region. China, in particular, is a major producer of synthetic leather and accounts for a significant share of the global market. The country has a large number of manufacturers that produce synthetic leather for various applications such as footwear, automotive, and furnishing.
- The Asia Pacific region is also experiencing significant industrialization and urbanization, which is driving demand for synthetic leather products in various applications such as automotive, furnishing, and construction. The increasing construction activities in the region, particularly in China and India, are driving demand for synthetic leather products such as wall coverings and flooring materials.
- In conclusion, the Asia Pacific region is driving the Global Synthetic Leather Market due to the presence of a large number of manufacturers, increasing demand for synthetic leather products, and growing industrialization and urbanization in the region. The region is expected to continue driving the growth of the market in the future, driven by the growing demand for high-performance and sustainable materials in various industries.
Covid-19 Impact Analysis on Global Synthetic Leather Market
COVID-19 and the pandemic had several negative impacts on the Global Synthetic Leather Market.
- The pandemic has led to a significant disruption in the global supply chain, which has impacted the availability of raw materials and the production of synthetic leather. The closure of factories, transportation restrictions, and delay in shipments have affected the production and delivery of synthetic leather products.
- The pandemic has led to a decrease in demand for synthetic leather products in various industries such as automotive, fashion, and furniture. The closure of stores, decrease in consumer spending, and decrease in production activities have led to a decline in the demand for synthetic leather products.
- The pandemic has also led to a decrease in investments in the synthetic leather market, as investors are hesitant to invest in new projects and expansions due to the economic uncertainty caused by the pandemic.
- Overall, the COVID-19 pandemic has had a negative impact on the Global Synthetic Leather Market, with the disruption in the supply chain, decrease in demand, decrease in investments, shift in consumer preferences, and increase in production costs. However, the market is expected to recover in the post-pandemic period as the global economy stabilizes and the demand for synthetic leather products increases.
Source: Statista
In the above graph, The production of synthetic polyurethane leather in Taiwan was affected by the COVID-19 pandemic, as indicated by the graph above. Specifically, in 2018, the production volume of synthetic polyurethane leather was 23.01 million meters, while in 2020, it decreased to 16.5 million meters. The graph illustrates the decline in production volume that occurred during the pandemic period.
Top Key Players Covered In The Global Synthetic Leather Market
- Kuraray Co., Ltd. (Japan)
- San Fang Chemical Industry Co. Ltd. (Taiwan)
- Mayur Uniquoters Ltd. (India)
- NAN YA PLASTICS CORPORATION (Taiwan)
- Teijin Limited (Japan)
- Filwel Co. Ltd. (Japan)
- Alfatex (Italy)
- Zhejiang Hexin Industry Group Co. Ltd. (China)
- DuPont de Nemours Inc. (USA)
- Yantai Wanhua Synthetic Leather Group Co. Ltd. (China)
- Toray Industries Inc. (Japan)
- H.R. Polycoats Pvt. Ltd. (India)
- Archilles Corporation (Japan)
- Favini S.r.l. (Italy)
- AICA Kogyo Co. Ltd. (Japan)
Key Industry Developments in the Global Synthetic Leather Market
In 2020, the San Fang Chemical Industry Co. Ltd announced the launch of a new eco-friendly synthetic leather material made from recycled plastic bottles. This product is designed to meet the increasing demand for sustainable and environmentally-friendly materials in various industries.
In 2020, Teijin Limited announced the development of a new synthetic leather material that has a soft, luxurious feel and a high degree of durability. This product is designed to meet the growing demand for high-quality synthetic leather materials in the fashion and automotive industries.
Global Synthetic Leather Market
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Base Year:
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2022
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Forecast Period:
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2022-2030
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Historical Data:
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2016 to 2021
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Market Size in 2022:
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USD 38978.9 Mn.
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Forecast Period 2022-32 CAGR:
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5.61%
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Market Size in 2030:
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USD 51210 Mn.
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Segments Covered:
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By Type
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- Polyurethane (PU)
- Polyvinylchloride (PVC)
- Bio-Based
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By Application
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- Footwear
- Furniture
- Automotive
- Textile
- Sports
- Electronics
- Others
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By Region
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- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Synthetic Leather Market by Type
5.1 Synthetic Leather Market Overview Snapshot and Growth Engine
5.2 Synthetic Leather Market Overview
5.3 Polyurethane (PU)
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2030F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Polyurethane (PU): Geographic Segmentation
5.4 Polyvinylchloride (PVC)
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2030F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Polyvinylchloride (PVC): Geographic Segmentation
5.5 Bio-Based
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2030F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Bio-Based: Geographic Segmentation
Chapter 6: Synthetic Leather Market by Application
6.1 Synthetic Leather Market Overview Snapshot and Growth Engine
6.2 Synthetic Leather Market Overview
6.3 Footwear
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2030F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Footwear: Geographic Segmentation
6.4 Furniture
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2030F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Furniture: Geographic Segmentation
6.5 Automotive
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2030F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Automotive: Geographic Segmentation
6.6 Textile
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size (2016-2030F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Textile: Geographic Segmentation
6.7 Sports
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size (2016-2030F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Sports: Geographic Segmentation
6.8 Electronics
6.8.1 Introduction and Market Overview
6.8.2 Historic and Forecasted Market Size (2016-2030F)
6.8.3 Key Market Trends, Growth Factors and Opportunities
6.8.4 Electronics: Geographic Segmentation
6.9 Others
6.9.1 Introduction and Market Overview
6.9.2 Historic and Forecasted Market Size (2016-2030F)
6.9.3 Key Market Trends, Growth Factors and Opportunities
6.9.4 Others: Geographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Positioning
7.1.2 Synthetic Leather Sales and Market Share By Players
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Synthetic Leather Industry Concentration Ratio (CR5 and HHI)
7.1.6 Top 5 Synthetic Leather Players Market Share
7.1.7 Mergers and Acquisitions
7.1.8 Business Strategies By Top Players
7.2 KURARAY CO. LTD. (JAPAN)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Operating Business Segments
7.2.5 Product Portfolio
7.2.6 Business Performance
7.2.7 Key Strategic Moves and Recent Developments
7.2.8 SWOT Analysis
7.3 SAN FANG CHEMICAL INDUSTRY CO. LTD. (TAIWAN)
7.4 MAYUR UNIQUOTERS LTD. (INDIA)
7.5 NAN YA PLASTICS CORPORATION (TAIWAN)
7.6 TEIJIN LIMITED (JAPAN)
7.7 FILWEL CO. LTD. (JAPAN)
7.8 ALFATEX (ITALY)
7.9 ZHEJIANG HEXIN INDUSTRY GROUP CO. LTD. (CHINA)
7.10 DUPONT DE NEMOURS INC. (USA)
7.11 YANTAI WANHUA SYNTHETIC LEATHER GROUP CO.LTD. (CHINA)
7.12 TORAY INDUSTRIES INC. (JAPAN)
7.13 H.R. POLYCOATS PVT. LTD. (INDIA)
7.14 ARCHILLES CORPORATION (JAPAN)
7.15 FAVINI S.R.L. (ITALY)
7.16 AICA KOGYO CO.LTD. (JAPAN)
7.17 OTHER MAJOR PLAYERS
Chapter 8: Global Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
8.1 Market Overview
8.2 Historic and Forecasted Market Size By Type
8.2.1 Polyurethane (PU)
8.2.2 Polyvinylchloride (PVC)
8.2.3 Bio-Based
8.3 Historic and Forecasted Market Size By Application
8.3.1 Footwear
8.3.2 Furniture
8.3.3 Automotive
8.3.4 Textile
8.3.5 Sports
8.3.6 Electronics
8.3.7 Others
Chapter 9: North America Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
9.1 Key Market Trends, Growth Factors and Opportunities
9.2 Impact of Covid-19
9.3 Key Players
9.4 Key Market Trends, Growth Factors and Opportunities
9.4 Historic and Forecasted Market Size By Type
9.4.1 Polyurethane (PU)
9.4.2 Polyvinylchloride (PVC)
9.4.3 Bio-Based
9.5 Historic and Forecasted Market Size By Application
9.5.1 Footwear
9.5.2 Furniture
9.5.3 Automotive
9.5.4 Textile
9.5.5 Sports
9.5.6 Electronics
9.5.7 Others
9.6 Historic and Forecast Market Size by Country
9.6.1 US
9.6.2 Canada
9.6.3 Mexico
Chapter 10: Eastern Europe Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Polyurethane (PU)
10.4.2 Polyvinylchloride (PVC)
10.4.3 Bio-Based
10.5 Historic and Forecasted Market Size By Application
10.5.1 Footwear
10.5.2 Furniture
10.5.3 Automotive
10.5.4 Textile
10.5.5 Sports
10.5.6 Electronics
10.5.7 Others
10.6 Historic and Forecast Market Size by Country
10.6.1 Bulgaria
10.6.2 The Czech Republic
10.6.3 Hungary
10.6.4 Poland
10.6.5 Romania
10.6.6 Rest of Eastern Europe
Chapter 11: Western Europe Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Polyurethane (PU)
11.4.2 Polyvinylchloride (PVC)
11.4.3 Bio-Based
11.5 Historic and Forecasted Market Size By Application
11.5.1 Footwear
11.5.2 Furniture
11.5.3 Automotive
11.5.4 Textile
11.5.5 Sports
11.5.6 Electronics
11.5.7 Others
11.6 Historic and Forecast Market Size by Country
11.6.1 Germany
11.6.2 UK
11.6.3 France
11.6.4 Netherlands
11.6.5 Italy
11.6.6 Russia
11.6.7 Spain
11.6.8 Rest of Western Europe
Chapter 12: Asia Pacific Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Polyurethane (PU)
12.4.2 Polyvinylchloride (PVC)
12.4.3 Bio-Based
12.5 Historic and Forecasted Market Size By Application
12.5.1 Footwear
12.5.2 Furniture
12.5.3 Automotive
12.5.4 Textile
12.5.5 Sports
12.5.6 Electronics
12.5.7 Others
12.6 Historic and Forecast Market Size by Country
12.6.1 China
12.6.2 India
12.6.3 Japan
12.6.4 South Korea
12.6.5 Malaysia
12.6.6 Thailand
12.6.7 Vietnam
12.6.8 The Philippines
12.6.9 Australia
12.6.10 New Zealand
12.6.11 Rest of APAC
Chapter 13: Middle East & Africa Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Polyurethane (PU)
13.4.2 Polyvinylchloride (PVC)
13.4.3 Bio-Based
13.5 Historic and Forecasted Market Size By Application
13.5.1 Footwear
13.5.2 Furniture
13.5.3 Automotive
13.5.4 Textile
13.5.5 Sports
13.5.6 Electronics
13.5.7 Others
13.6 Historic and Forecast Market Size by Country
13.6.1 Turkey
13.6.2 Bahrain
13.6.3 Kuwait
13.6.4 Saudi Arabia
13.6.5 Qatar
13.6.6 UAE
13.6.7 Israel
13.6.8 South Africa
Chapter 14: South America Synthetic Leather Market Analysis, Insights and Forecast, 2016-2030
14.1 Key Market Trends, Growth Factors and Opportunities
14.2 Impact of Covid-19
14.3 Key Players
14.4 Key Market Trends, Growth Factors and Opportunities
14.4 Historic and Forecasted Market Size By Type
14.4.1 Polyurethane (PU)
14.4.2 Polyvinylchloride (PVC)
14.4.3 Bio-Based
14.5 Historic and Forecasted Market Size By Application
14.5.1 Footwear
14.5.2 Furniture
14.5.3 Automotive
14.5.4 Textile
14.5.5 Sports
14.5.6 Electronics
14.5.7 Others
14.6 Historic and Forecast Market Size by Country
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion