About Synthetic Leathers
Synthetic leather, also known as faux leather, is a man-made material that mimics the look and feel of genuine leather. It is made from a variety of materials, including polyurethane (PU) and polyvinyl chloride (PVC), and is often used as a more affordable and ethical alternative to real leather. The use of synthetic leather is widespread in various industries, including fashion, automotive, upholstery, and footwear. It is commonly used in clothing, shoes, bags, furniture, and car interiors. Further, it offers a wide range of benefits, such as easy maintenance, durability, and resistance to stains and moisture.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Synthetic leather is a fragmented market due to the presence of various players. The players are focusing on research and development to improve the quality, durability, and sustainability of their products. However, with increasing consumer demand for eco-friendly products, many synthetic leather players are focusing on developing more sustainable products. Furthermore, the players are also focusing on innovation, developing new products that meet changing consumer needs and preferences. Also, adopting strategic activities such as partnerships, mergers, and acquisitions will accelerate market growth. Analyst at AMA Research estimates that Asia Pacific Vendors will contribute the maximum growth to Global Synthetic Leathers market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kuraray Co., Ltd. (Japan), H.R. Polycoats Pvt. Ltd. (India), Zhejiang Hexin Industry Group Co., Ltd. (China), Yantai Wanhua Synthetic Leather Group Co., Ltd. (China), DuPont Tate & Lyle Bio Products (United States), San Fang Chemical Industry Co., Ltd. (China), Toray Industries, Inc. (Japan), Mayur Uniquoters Limited (India), Teijin Limited (Japan) and Benecke-Kaliko AG (German) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Alcantara S.p.A. (Italy) and Nan Ya Plastics Corporation (China).
Segmentation Overview
AMA Research has segmented the market of Global Synthetic Leathers market by Type (Polyurethane Based Synthetic Leather, Polyvinylchloride Based Synthetic Leather, Polyester- PolyolBased Synthetic Leathers and Others), Application (Footwear, Clothing, Furnishing, Automotive and Others) and Region.
On the basis of geography, the market of Synthetic Leathers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Synthetic Leathers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased in Popularity in Recent Years due to its Affordability, and Durability. and Growing Demand for Sustainable and Environmentally Friendly Products
Market Growth Drivers:
Increasing Demand for Sustainable Materials due to Rising Environment Concerns and Rising Demand for Alternatives to Real Leather
Challenges:
Government Regulation and Policies Regarding Synthetic Leather
Restraints:
Negative Impact of Synthetic Leather on the Environment
Opportunities:
Rising Applications in Automotive Industry for Various Vehicles such as Cars, Buses, Trucks, etc.
Market Leaders and their expansionary development strategies
In 2018, Kuraray Co., Ltd. announced the acquisition of U.S.based company Clarino, a leading manufacturer of high-performance synthetic leather. The acquisition was aimed at expanding Kuraray's global market share in the synthetic leather industry and strengthening its position as a leading supplier of high-quality synthetic leather products.
In September 2021, Teijin Frontier Group developed a new antibacterial and antiviral artificial leather incorporating a long-lasting antibacterial agent. These leather are designed for the manufacture of children’s satchels, and sporting goods such as shoes, and leather balls. This move enhanced the company's product portfolio.
Key Target Audience
Synthetic Leather Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.