San
Francisco, 03 December 2018, The global synthetic leather market is expected to reach USD
85.05 billion by 2025, according to a new report by Grand View Research, Inc.
Globally increasing applications in foot wears has been a major factor driving
market growth. In addition, increasing focus towards animal rights led by
several organizations and rising stringency in laws governing real leather are
propelling demand for synthetic leather.
Synthetic leather materials are
competing with natural leather for over three decades owing to its superior
properties such as high durability, strength, UV resistance, easy maintenance
and high gloss finish. Cheaper prices of products made up from faux leather
continue to attract huge number of customers from middle and high income level
groups. However, in countries such as Japan, the product is facing competition
from Fumikodata, which is a replica of real leather and is a cruelty free
material.
Polyurethane was the largest
product category in 2015 and is expected to grow at the fastest CAGR over the
forecast period. PVC is anticipated to maintain a slow growth rate on account
of its properties which include sticky finish and lesser durability.
Footwear application segment is
expected to observe the fastest growth over the next nine years with an
estimated CAGR of around 9.7% from 2016 to 2025. Cheaper costs, fluctuating
climatic conditions in countries creating needs for several types of footwear
coupled with rising disposable income levels are fueling the demand for
synthetic leather in footwear segment. Moreover, trend of incorporating
athletic shoes in daily lifestyle is further augmenting demand of the
application segment over the forecast period.
Access Full Research
Report On Synthetic Leather Market Analysis:
Further key findings from the report suggest:
·
The global demand for
artificial leather exceeded 15,780 million meter in 2015 and is expected to
grow at a CAGR of 9.5% from 2016 to 2025
·
PU leather emerged as the
largest product segment in 2015 and is estimated to generate revenue over USD
51.9 billion by 2025
·
Global market demand in
footwear was USD 10.1 billion in 2015 and is anticipated to witness fastest
growth over the next nine years
·
The U.S. synthetic leather
market in PVC was 513.2 million meter in 2015 and is estimated to reach a total
volume of over 1,169.7 million meter by 2025
·
The industry in Asia Pacific is
projected to witness substantial growth over the next decade owing to rapid
economic growth across countries such as India, China, Japan and Korea. The
regional market is expected to grow at a CAGR of 11.7% from 2016 to 2025
·
Key players including Nan Ya
Plastics Corporation, Mayur Uniquoters Limited, Alfatex Italia SRL, and Kuraray
Co. Ltd. dominated the market
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
global synthetic leather market on the basis of product, application, and
region:
Synthetic Leather Product
Outlook (Volume, Million Meters; Revenue, USD Billion, 2014 - 2025)
·
PU
·
PVC
·
Bio based
Synthetic Leather Application
Outlook (Volume, Million Meters; Revenue, USD Billion, 2014 - 2025)
·
Furnishing
·
Automotive
·
Footwear
·
Bags & wallets
·
Clothing
·
Others
Synthetic Leather Regional
Outlook (Volume, Million Meters; Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
Italy
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Central & South America
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-synthetic-leather-market
www.grandviewresearch.com/press-release/global-synthetic-leather-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
