Synthetic Leather - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Synthetic Leather Market is accounted for $30.49 billion in 2019 and is expected to reach $63.02 billion by 2027 growing at a CAGR of 9.5% during the forecast period. Some of the factors contributing to the growth of the market are increasing demand from the footwear industry and advantages over pure leather. However, the harmful effects of PU and PVC are hampering the growth of the market.
Artificial or synthetic leather, as it is usually called, is man-made leather, which gives the manifestation of the real leather. The product is sold under various names such as faux leather, vegan leather, leatherette, and pleather. Synthetic leather is composed of a cloth base which is coated with a synthetic resin so that it resembles animal hide on the surface. The surface of the fabric is dyed and treated with specific additives to resemble real leather. It primarily finds applications where a leather-like finish is required, such as in footwear, upholstery, clothing, and automobile, among others. It comes with no seams, which prevent the water from seeping inside and causing damage to the material.
Based on the end-user, the automotive segment is going to have a lucrative growth during the forecast period owing to its wide range of uses for various vehicles such as buses, cars, trucks, motorcycles, and agricultural vehicles. The major application of synthetic leather in the automotive industry is for seat upholstery. It is also used in various other parts, such as steering wheel covers, door trims, knob & gear bot covers, sun visors & hoods, and roof lining. Its high elasticity makes the seats comfortable and resistance to cold and hot temperatures. The demand for synthetic leather is also increasing in the automotive industry as its manufacturing does not involve animal killing.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the technological innovations in the synthetic leather industry and the presence of some of the major players in the region. The Asia-Pacific region is expected to be the fastest-growing synthetic leather market, which is backed by the high demand for synthetic leather in the footwear, automotive, and construction industries. The demand from major emerging countries such as China, India, and South Korea also drives the synthetic leather market in the region.
Some of the key players profiled in the Synthetic Leather Market include Achilles USA, Inc., Alfatex Italia SRL, Asahi Kasei Corporation, FILWEL Co., Ltd., Fujian Polytech Technology Corp., Ltd., H.R.Polycoats Pvt. Ltd., Kuraray Co., Ltd., Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co., Ltd., Teijin Limited, Toray Industries, Inc., and Zhejiang Hexin Holdings Co., Ltd.
Types Covered:
• Polyurethane (PU) Based
• Polyvinyl Chloride (PVC) Based
• Bio-Based
End Users Covered:
• Footwear
• Furnishing
• Automotive
• Clothing
• Accessories
• Electronics
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Synthetic Leather Market, By Type
5.1 Introduction
5.2 Polyurethane (PU) Based
5.2.1 Microfiber Leather
5.2.2 Ecological Function PU
5.2.3 Normal PU
5.3 Polyvinyl Chloride (PVC) Based
5.4 Bio Based
6 Global Synthetic Leather Market, By End User
6.1 Introduction
6.2 Footwear
6.2.1 Sports Shoes
6.2.2 Formal Shoes & Boots
6.2.3 Sandals & Slippers
6.3 Furnishing
6.3.1 Chairs
6.3.2 Sofas
6.3.3 Bean Bags
6.4 Automotive
6.4.1 Seats
6.4.2 Steering Wheel Covers
6.4.3 Door Trim, Knob, & Gear Bot Covers
6.5 Clothing
6.5.1 Jackets
6.5.2 Belts
6.5.3 Tops, Pants
6.6 Accessories
6.6.1 Bags
6.6.2 Purses
6.6.3 Wallets
6.7 Electronics
6.7.1 Mobile Covers
6.7.2 Laptop Covers
7 Global Synthetic Leather Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Achilles USA, Inc.
9.2 Alfatex Italia SRL
9.3 Asahi Kasei Corporation
9.4 FILWEL Co., Ltd.
9.5 Fujian Polytech Technology Corp.,Ltd
9.6 H.R.Polycoats Pvt. Ltd.
9.7 Kuraray Co., Ltd.
9.8 Mayur Uniquoters Limited
9.9 Nan Ya Plastics Corporation
9.10 San Fang Chemical Industry Co., Ltd.
9.11 Teijin Limited
9.12 Toray Industries, Inc.
9.13 Zhejiang Hexin Holdings Co., Ltd.
List of Tables
1 Global Synthetic Leather Market Outlook, By Region (2018-2027) ($MN)
2 Global Synthetic Leather Market Outlook, By Type (2018-2027) ($MN)
3 Global Synthetic Leather Market Outlook, By Polyurethane (PU) Based (2018-2027) ($MN)
4 Global Synthetic Leather Market Outlook, By Microfiber Leather (2018-2027) ($MN)
5 Global Synthetic Leather Market Outlook, By Ecological Function PU (2018-2027) ($MN)
6 Global Synthetic Leather Market Outlook, By Normal PU (2018-2027) ($MN)
7 Global Synthetic Leather Market Outlook, By Polyvinyl Chloride (PVC) Based (2018-2027) ($MN)
8 Global Synthetic Leather Market Outlook, By Bio Based (2018-2027) ($MN)
9 Global Synthetic Leather Market Outlook, By End User (2018-2027) ($MN)
10 Global Synthetic Leather Market Outlook, By Footwear (2018-2027) ($MN)
11 Global Synthetic Leather Market Outlook, By Sports Shoes (2018-2027) ($MN)
12 Global Synthetic Leather Market Outlook, By Formal Shoes & Boots (2018-2027) ($MN)
13 Global Synthetic Leather Market Outlook, By Sandals & Slippers (2018-2027) ($MN)
14 Global Synthetic Leather Market Outlook, By Furnishing (2018-2027) ($MN)
15 Global Synthetic Leather Market Outlook, By Chairs (2018-2027) ($MN)
16 Global Synthetic Leather Market Outlook, By Sofas (2018-2027) ($MN)
17 Global Synthetic Leather Market Outlook, By Bean Bags (2018-2027) ($MN)
18 Global Synthetic Leather Market Outlook, By Automotive (2018-2027) ($MN)
19 Global Synthetic Leather Market Outlook, By Seats (2018-2027) ($MN)
20 Global Synthetic Leather Market Outlook, By Steering Wheel Covers (2018-2027) ($MN)
21 Global Synthetic Leather Market Outlook, By Door Trim, Knob, & Gear Bot Covers (2018-2027) ($MN)
22 Global Synthetic Leather Market Outlook, By Clothing (2018-2027) ($MN)
23 Global Synthetic Leather Market Outlook, By Jackets (2018-2027) ($MN)
24 Global Synthetic Leather Market Outlook, By Belts (2018-2027) ($MN)
25 Global Synthetic Leather Market Outlook, By Tops, Pants (2018-2027) ($MN)
26 Global Synthetic Leather Market Outlook, By Accessories (2018-2027) ($MN)
27 Global Synthetic Leather Market Outlook, By Bags (2018-2027) ($MN)
28 Global Synthetic Leather Market Outlook, By Purses (2018-2027) ($MN)
29 Global Synthetic Leather Market Outlook, By Wallets (2018-2027) ($MN)
30 Global Synthetic Leather Market Outlook, By Electronics (2018-2027) ($MN)
31 Global Synthetic Leather Market Outlook, By Mobile Covers (2018-2027) ($MN)
32 Global Synthetic Leather Market Outlook, By Laptop Covers (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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