Synthetic Leather Market

Global Synthetic Leather Market is valued at USD 38.88 Billion in 2021 and is expected to reach USD 61.96 Billion by 2028 with a CAGR of 6.90% over the forecast period. Increasing awareness about animal cruelty and vegan leather is one of the major factors which drive the growth of the Global Synthetic Leather Market.

Scope of Global Synthetic Leather Market Report:

Synthetic leather is also called artificial leather, it is a material that is made from other materials not from animal skin. It is made by using different methods like Presstoff, in this method leather is made from paper pulp. Another one is Rexine, in this method leather is made from cloth surfaced with a mixture of nitrocellulose, camphor oil, alcohol. Some types of leather are made by the fermentation method. Synthetic leather is known by many other names like leatherette, imitation leather, PU leather, faux leather, pleather, vegan leather, etc. PU leather or polyurethane leather is a synthetic leather made of thermoplastic polymer used for making footwear or furniture. PU leather has many types like bi-cast leather, split leather, bonded leather, reconstituted leather, and corrected grain leather.

Synthetic leather is cheaper than genuine leather because it is easier to manufacture. It has applications in clothing, footwear, upholstery, and many more sectors. In footwear industries, synthetic leather is used for shoe linings, shoe uppers, and insoles etc. Whether Faux leather is used in furniture industries for manufacturing sofas, chairs, and headboard upholstery. Alternative leather or leather substitute were invented in 19^th century. Nitrocellulose i.e. guncotton leather was manufactured by German chemist Christian Friedrich Schonbein in 1845. Later in 1846 collodion (pyroxylin) leather was developed by French scientist Louis Nicolas Menard.

The COVID-19 has shown a negative impact on the growth of the global synthetic leather market owing to the lockdown and disturbance in the supply chain network of most industries. It has applications in the industries such as footwear, furniture, automotive, and others which have shown a decline in growth thus, it has adversely affected the synthetic leather market. But, it will get the pace again with recovery from the Covid-19 situation.

Global synthetic leather market is segmented on the basis of types, end-user, AND region & country level. Based on types, the synthetic leather market is segmented into PU-based, PVC- based, Bio-based. Based on end-user, the market is divided into footwear, furnishing, automotive, clothing, bags, purses & wallets, others.

Synthetic Leather Manufacturers

Some key players for Global Synthetic Leather Market are Kuraray Co. Ltd., Mayor Uniquoters Limited, Teijin Limited, Zhejiang Hexin Industry Group Co. Ltd, Yantai Wanhua Synthetic Leather Group Co. Ltd., NAN YA plastics corporation, Alfatex N.V., H.R. Polycoats Pvt. Ltd., san Fang Chemical Industry Co. Ltd., Bombay Dyeing, E. I. du pont Nemours and Company, Indorma Corporation, China Petrolium Corporation, Toyobo Co Ltd., Toray Chemical Korea lnc. and others.

News:

BASF and Greentech Established Joint Laboratory to Drive Innovation in Sustainable Synthetic Leather Development

On June 12^th, 2019; A Memorandum of Understanding was inked by BASF and Greentech, a well-known Chinese synthetic leather firm, to establish a collaborative laboratory for synthetic leather development. The joint laboratory is the result of a long-term partnership between the two companies. BASF will focus on technical know-how, product development and production of polyurethane solutions, while Greentech will be responsible for the research and development of synthetic leather for a automobiles, fast-moving consumer products, and furniture are just a few examples. BASF made significant innovations to the synthetic leather manufacturing techniques with the introduction of non-organic solvent tops made without the use of organotin.  

Increasing Awareness about Animal Cruelty and Vegan Leather is One of the Major Factors Driving the Industry Growth

Increasing awareness about animal cruelty and vegan leather is one of the major factors driving the growth of the global synthetic leather market. For instance, according to the Multidisciplinary Digital Publishing Institute (MDPI), 2021, over $40 billion global fur industry has been under tremendous scrutiny, in the past few years, for its inhuman practices. Most of the fur and leather products are manufactured via factory breeding, the animals are treated in small, dirty cages and later cruelly slaughtered. Then from the skin of an animal, leather and fur are manufactured. Some civic groups and animal protection groups like People for the Ethical Treatments of Animals (PETA) strongly encourage the people for alternative products and animal-friendly production processes. Day by day the vegan population in the world is increasing; this population is strongly restricting the use of animal products. So, the increasing awareness about animal cruelty and vegan leather are boosting the growth of global synthetic leather market.

In addition, the ban of fur and leather by top brands is also promoting the growth of the synthetic leather market. For instance; Macy’s lnc. and Bloomingdales in October 2019, announced that they would end the sale of animal fur products in 2020. Macy's lnc. will close its Fur Vault and Maximilian stores by 2021 as a result of this decision. Also Prada Group in 2020, they will no longer feature fur in their collections. Also includes brands, Miu Miu. Phillip Lim in 2019 also banned fur in their collections. Coach brand in 2019, which previously used real mink, fox, coyote, and rabbit fur in its designs announced the fur-free products. Also brands like Farfetch Burberry, Victoria Beckham, Chanel, dian von Furstenberg, Versace, Maison Margiela, Furla Group, Michael kors, Gucci, yoox-Net-a-Porter Group and Armani group banned the animal leather and fur in their collections.

Furthermore, its growing applications in furnishing, rising demand for alternative genuine leather, booming footwear sector, the rapid development of construction and automotive industries are some other factors supplementing the growth of the synthetic leather market. However, hazardous or harmful effects of synthetic leather which are made from PU and PVC on human and animal health as well as the environment may hinder the market growth. In spite of that, the development of bio-based synthetic leather may offer an opportunity for further growth of the market.

Asia Pacific is Anticipated to Witness the Fastest Growth in the Global Synthetic Leather Market

Geographically; the Asia Pacific is expected to show the fastest growth in the global synthetic leather market over the forecast period due to the increasing growth of automobile and automotive sectors and the development of advanced manufacturing processes in countries like Japan, India, and China in this region. For instance; according to the ARCIALA series on Intellectual Assets and Law in Asia 2019, in 2017 India was the world’s fourth-largest automobile and automotive market, and the demand for Indian vehicles continues to grow in the domestic and international market. According to the Center for Automotive Research 2020, Japan invested USD 24.6 billion into North America since 2009. In 2018 Japan was the third largest FDI in the U.S. In the automobile and automotive industries leather is used for various applications.

 Europe is expected to witness significant growth in the global synthetic leather market due to strict government regulations for animal slaughtering and fur production in this region. For instance; according to MDPI 2021, England has banned fur breeding since 2000 and Austria since 2004. Also in the Netherlands, the second-largest producer of mink passed the law on banning fur breeding in 2012 and declared all farms which manufacture mink should be closed by 2024.

The regions covered in the Synthetic Leather market report are North America, Europe, Asia-Pacific, and the Rest of the World. Based on a country level, the market of Synthetic leather is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 38.88 Billion
Base year considered	2021
Forecast Period CAGR %:	6.90%
Market Size Expected in 2028:	USD 61.96 Billion
Tables, Charts & Figures:	175
Pages	200
Synthetic Leather Manufacturers:	Kuraray Co. Ltd., Mayor Uniquoters Limited, Teijin Limited, Zhejiang Hexin Industry Group Co. Ltd, Yantai Wanhua Synthetic Leather Group Co. Ltd., NAN YA plastics corporation, Alfatex N.V., H.R. Polycoats Pvt. Ltd., san Fang Chemical Industry Co. Ltd., Bombay Dyeing, E. I. du pont Nemours and Company, Indorma Corporation, China Petrolium Corporation, Toyobo Co Ltd., Toray Chemical Korea lnc. and others.
Segments Covered	By End-User, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Global Synthetic Leather Market Segmentation:

By Application

• PU-based
• PVC- based
• Bio-based

By End-User

• Footwear
• Furnishing
• Automotive
• Clothing
• Bags, purses & wallets
• Others

Synthetic Leather Market key Players:

• Kuraray Co. Ltd.
• Mayor Uniquoters Limited
• Teijin Limited
• Zhejiang Hexin Industry Group Co. Ltd
• Yantai Wanhua Synthetic Leather Group Co. Ltd.
• NAN YA plastics corporation
• Alfatex N.V.
• R. Polycoats Pvt. Ltd.
• san Fang Chemical Industry Co. Ltd.
• Bombay Dyeing
• I. du pont Nemours and Company
• Indorma Corporation
• China Petrolium Corporation
• Toyobo Co Ltd.
• Toray Chemical Korea lnc
• others

On Special Requirement Synthetic Leather Industry Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global Synthetic Leather Industry Report–

• Global Synthetic Leather Industry report covers in-depth historical and forecast analysis.
• Global Synthetic Leather Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global Synthetic Leather Industry report helps to identify opportunities in the marketplace.
• Global Synthetic Leather Industry report covers extensive analysis of emerging trends and competitive landscape.