Industry Background:
The high growth in the footwear industry will help to boost the demand for Polyurethane Leather in the forecasted period. PU leather, also known as synthetic leather, it's an imitation of the real leather created from polyurethane, a plastic with a similar feel and aspect to the leather, but without involving animals. 100% PU leather is an artificial material or artificial leather that does not involve animals. PU is environment-friendly in comparison with polyvinyl chloride (PVC) leather due to the non-emission of dioxins. Polyurethane leather also has relatively better quality and lighter in weight. Other than this it also has a better product life. Attributing to these superior properties the demand for polyurethane leather is upsurge.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Stahl Holdings B.V. (Netherlands), Ocean Plastic Co., Ltd. (Taiwan), NAN YA PLASTICS CORPORATION (Taiwan), DOW chemical Company (United States), Bayer (Germany), BASF SE (Germany), BZ Leather Company (China), ANLI Material Tech Co. (China) and DAEWON Chemical (South Korea) |
This growth is primarily driven by No Animal Killin Invoved and Growing Demand From the Footwear Industry.
Globally, a noticeable market trend is evident Advantages Over Pure Leather
The Chemicals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Stahl Holdings B.V. (Netherlands), Ocean Plastic Co., Ltd. (Taiwan), NAN YA PLASTICS CORPORATION (Taiwan), DOW chemical Company (United States), Bayer (Germany), BASF SE (Germany), BZ Leather Company (China), ANLI Material Tech Co. (China) and DAEWON Chemical (South Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is led by a few companies with large production capacities, most of them based in the Asia Pacific. Companies are using strategies, such as joint ventures, mergers & acquisitions, production capacity expansions, and new product development, to drive their revenues and increase their market shares.
Key Developments in the Market:
On June 8, 2020, NIO, a leading new energy vehicle company, has upgraded with enhanced seat covers made of BASF’s Haptex material, the first polyurethane (PU) solution made without the use of organic solvents.
On 7th January 2020, Nissha Co., Ltd. (Global Headquarters: Kyoto-shi, Kyoto; hereinafter Nissha) and Kuraray Co., Ltd. have jointly developed Material Insert using the synthetic leather CLARINO, and starting selling the products through both companies’ sales channels.
Influencing Trend:
Advantages Over Pure Leather and The rising scope of application across various segments, such as furnishing, automotive, clothing, bags, and others,
Market Growth Drivers:
No Animal Killin Invoved and Growing Demand From the Footwear Industry
Challenges:
The global Covid-19 pandemic has adversely affected the market demand
Restraints:
Harmful Effects of PU and PVC on Humans and The availability of substitutes such as genuine leathers
Opportunities:
Focus on Development of bio-based synthetic leather and The high demand due to an increase in personal consumption coupled with an increase in disposable income
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Polyurethane Leather Market
- Analysis about New Entrants in Polyurethane Leather Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Polyurethane Leather Study Sheds Light on
The Polyurethane Leather Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Polyurethane Leather industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Polyurethane Leather industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.