Synthetic Leather Global Market Forecast to 2029, with Profiles of Kuraray, San Fang Chemical Industry, Teijin, Mayur Uniquoters, Nan Ya Plastics, Filwel, Zhejiang Hexin & more - ResearchAndMarkets.com

The "Synthetic Leather Market by Type (PU Based, PVC Based, and Bio Based), End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses, & Wallets), and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The synthetic leather market is projected to register a CAGR of 5.3% between 2024 and 2029, in terms of value. The synthetic leather market size is projected to reach USD 93.25 billion by 2029 at a CAGR of 5.3% from USD 71.93 billion in 2024. The PU based, by type segment is estimated to account for the largest share in terms of value of the synthetic leather market in 2023. Biobased, by type likely to be the fastest growing type of synthetic leather market in terms of value.

Man-made PVC leather is synthetic leather that is intended to resemble leather. A layer of PVC raw material is created, and it is bonded to a suitable fabric backing by applying pressure and/or heat to create vinyl leather. Synthetic leather is known for its long-lasting, waterproof, and easy-to-maintain characteristics, making it a popular material for upholstery, fashion, and vehicle interiors. Although it is less breathable than natural leather, PVC synthetic leather comes in a variety of textures and finishes and is typically less expensive or more eco-friendly than comparable real leather.

The eco-friendly appeal and sustainable production practices of bio-based synthetic leather have made it one of the fastest-growing types. Bio-based synthetic leather reduces reliance on petroleum-based components often present in conventional synthetic leathers by using renewable resources for producing it, such as cork, algae, or plant-based polymers. Greener options are becoming more popular among businesses and customers alike in an environmentally concerned society. Additionally, bio-based synthetic leather has a lower carbon impact than non-bio-based synthetic leather while yet being just as gorgeous and long-lasting. Bio-based synthetic leather is becoming more and more popular as an eco-friendly alternative since more buyers are looking for sustainable furniture, fashion, and car interiors.

Footwear, by end use industry is fastest growing end-use industry segment of synthetic leather market

The footwear segment of the synthetic leather market is expanding at its fastest pace due to the growing need for fashionable, long-lasting, and reasonably priced substitutes for real leather. Synthetic leather is extremely adaptable, allowing for the creation of new designs and seeming to be simply maintained with diverse textures and finishes, from which many types of footwear styles may be constructed. Eco-friendly synthetic leather, on the other hand, gained popularity as a substitute as consumers' understanding of environmental sustainability and animal welfare increased. In addition, the fact that synthetic leather is less expensive to produce than traditional leather adds to the developing global trend of employing this material in sandals, boots, and shoes.

Asia Pacific, by region is forecasted to be the fastest growing segment of synthetic leather market during the forecast period.

Asia Pacific has emerged as the fastest-growing synthetic leather market due to increased industrialization, urbanization, and rising disposable incomes. The low labor costs and extensive industrial bases in China, India, and Vietnam have made them key production hubs for synthetic leather items. In addition, customers are moving toward more economical, durable, and eco-friendly alternatives to real leather, which is driving up demand for synthetic leather in sectors including fashion, footwear, and automobiles. In addition, government sustainability initiatives and the expanding retail and e-commerce industries would enable this sector to play a major role in the expansion of the synthetic leather market.

Competitive Landscape

The key companies profiled in this report are Kuraray Co., Ltd. (Japan), San Fang Chemical Industry Co., Ltd. (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Limited (India), Nan Ya Plastics Corporation (Taiwan), Filwel Co., Ltd. (Japan), and Zhejiang Hexin Holdings Co., Ltd. (China) .

This report provides insights on the following:

• Analysis of key drivers (Emerging demand from the APAC region, High growth of end-use industries,), restraints (Substitute for Synthetic leather in automotive industry), opportunities (Growth in emerging applications), and challenges (Recycling of synthetic leather) influencing the growth of the synthetic leather market.
• Product Development/Innovation: Detailed insight of upcoming technologies, research & development activities, and new product launch in the synthetic leather market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the synthetic leather market across varied regions.
• Market Diversification: Exclusive information about the new products & service untapped geographies, recent developments, and investments in synthetic leather market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like, Kuraray Co., Ltd. (Japan), San Fang Chemical Industry Co., Ltd. (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Limited (India), Nan Ya Plastics Corporation (Taiwan), Filwel Co., Ltd. (Japan), and Zhejiang Hexin Holdings Co., Ltd. (China) among other in the synthetic leather market.

Key Attributes:

Key Topics Covered:

Premium Insights

• Attractive Opportunities for Players in Synthetic Leather Market
• Asia-Pacific Synthetic Leather Market, by Type and Country
• Synthetic Leather Market, by Region
• Regional Synthetic Leather Market, by End-use Industry
• Synthetic Leather Market, by Country

Market Dynamics

Drivers

• Expanding Footwear and Apparel Industries
• Rising Concerns About Animal Welfare and Environmental Impact
• Advantages Associated with Synthetic Leather
• Booming Automotive Sector

Restraints

• Environmental Impacts Related to Use of Pvc and Pu in Synthetic Leather Production
• Availability of Substitutes for Synthetic Leather in Automotive Industry

Opportunities

• Growing Demand for Sustainable Synthetic Leather Solutions

Challenges

• Challenges in Waste Management and Recycling of Synthetic Leather

Case Study Analysis

• Development of Synthetic Leather Via Natural Materials
• Durability and Abrasion Resistance of Faux Leather Fabrics
• Development of Thermoregulated PVC-based Synthetic Leather for Car Seats

Company Profiles

Key Players

• Kuraray Co. Ltd.
• San Fang Chemical Industry Co. Ltd.
• Teijin Limited
• Mayur Uniquoters Limited
• Nan Ya Plastics Corporation
• Filwel Co. Ltd.
• Zhejiang Hexin Holdings Co. Ltd.
• Wanhua Chemical Group Co. Ltd.
• Alfatex Italia Srl
• H.R. Polycoats Private Limited

Other Players

• Kolon Industries, Inc.
• Marvel Vinyls Limited
• Toray Industries, Inc.
• Anhui Anli Material Technology Co. Ltd.
• Shandong Jinfeng Artificial Leather Co. Ltd.
• Ecolorica Microfiber S.R.L.
• Konus Konex D.O.O.
• United Decoratives Private Limited (Jindal)
• Arora Polyfab Pvt. Ltd.
• Zhejiang Yongfa Synthetic Leather Co. Ltd.
• Politeks Suni Deri Tekstil San. Ltd.
• Leo Vinyls
• Primo (Pvt) Ltd
• Nirmal Fibres (P) Ltd.
• Shakti Tex Coaters Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/vhyh6j

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