What is Artificial Leather Market?
Artificial leather resembles similar to natural one but is less expensive and finds its applications across various domain such as clothing, footwear and automotive sectors among others. Raw materials such as Polyvinyl Chloride (PVC) and Polyurethane are used in the production of artificial leather along with excessive chemical. The use of chemicals leads to an adverse effect on the environment and key manufacturers are finding ways and means to reduce the same as production and consumption of artificial leather grow rapidly.
The market study is being classified by Type (PVC-leather, PU-leather and Bio-leather), by Application (Automotive, Clothing, Foot wear, Bags, purses & wallets, Furnishing and Others) and major geographies with country level break-up. According to AMA, the Global Artificial Leather market is expected to see growth rate of 7.14%
Alfatex ITALIA (Italy), Mayur Uniquoters Limited (India), Zhejiang Hexin Industry Group (China), Yantai Wanhua Synthetic Leather Group Co. Ltd (China), NAN YA Plastics Industrial Co. Ltd (China), Teijin Limited (Japan), Kuraray (Japan) Kuraray Co. Ltd. (Japan), DuPont (United States), Uniroyal (United States), Asahi Kasei Corporation (Japan), San fang chemical industry co. ltd. (China), Toray Coatex Co. Ltd. (Japan) and H.R. Polycoats Pvt. LTD. (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Alfatex (Belgium), Filwel co. ltd. (Japan) and Yantai Wanhua Synthetic Leather Group Co. Ltd. (China).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Artificial Leather market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Artificial Leather market by Type, Application and Region.
On the basis of geography, the market of Artificial Leather 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). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand for Artificial Leather in Footwear Sector
- Cost Effectiveness and Advantage over Pure Leather
- Rise in Demand for Low-Cost Versatile Leather Products
- Adverse Effect on Human Health Owing to Processing of Polyurethane (PU) or Polyvinylchloride (PVC) in Synthetic Leather Manufacturing Process
- Availability of Other Artificial Fibres With Similar Cost
- Changing Fashion Statement and Increase in Disposable Income in Emerging Countries
- Rising Demand for Lightweight Leather in Automotive Industry
- Lack of Durability Limits its Applications
- Effect on Trade Activity Owing to Slowdown in Global Economy
In April 2016, Teijin Cordley , a man made leather business announced that it has developed “Maestley”, a new substitution of natural leather.
The Regulation of the European Union (EU) on registration, evaluation, authorisation and restriction of chemicals used in the Leather Goods. Its proclaimed aim is to ensure a high level of protection of human health and the environment as well as the free movement of substances, on their own, in preparations and in articles, while enhancing competitiveness and innovation. This Regulation should also promote the development of alternative methods for the assessment of hazards of substances.
Key Target Audience
Artificial Leather manufacturers, Traders and distributors of Artificial Leather, Production Process industries, Potential investors, Raw material suppliers, Nationalized laboratory and End users
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