Global Synthetic Leathers Market Overview:
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.
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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
Government Regulation and Policies Regarding Synthetic Leather
Negative Impact of Synthetic Leather on the Environment
Rising Applications in Automotive Industry for Various Vehicles such as Cars, Buses, Trucks, etc.
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.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Alcantara S.p.A. (Italy) and Nan Ya Plastics Corporation (China). Analyst at AMA Research see Asia Pacific Vendors to retain maximum share of Global Synthetic Leathers market by 2028. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Synthetic Leathers market.
Latest Market Insights:
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.
What Can be Explored with the Synthetic Leathers Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Synthetic Leathers Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Synthetic Leathers
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Synthetic Leathers market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Synthetic Leathers market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes 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.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.