Synthetic Leather Industry Sales, Supply, Consumption 2021 Market Size Analysis and Growing top Companies: Kuraray Co. Ltd, H.R. Polycoats Pvt. Ltd, Alfatex Italia SRL, Filwel Co. Ltd, Teijin Limited

Global Synthetic Leather Market is valued at USD 60.91 Billion in 2020 and expected to reach USD 83.44 Billion by 2027 with a CAGR of 4.6% over the forecast period.

Scope of Global Synthetic Leather Market Report:
Synthetic leather is also called artificial leather, it is material which is made from other material 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 mixture of nitrocellulose, camphor oil, alcohol. Some types of leather are made by 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 an synthetic leather made of thermoplastic polymer used for making footwear or furniture. PU lather has many types like bicast leather, split leather, bonded leather, reconstituted leather, and corrected grain leather. Synthetic leather are 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 of sofas, chairs and headboard upholstery. Alternative leather or leather substitute were invented in 19th 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.

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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 of the industries. It has applications in the industries such as footwear, furniture, automotive, and others which have shown a decline in the growth thus, it has adversely affected the synthetic leather market. But, it will get the pace again with recovery from 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.

Global Synthetic Leather Market Segmentation:

By Application:
• PU-based
• PVC- based
• Bio-based

By End-User:
• Footwear
• Furnishing
• Automotive
• Clothing
• Bags, purses & wallets
• Others

Key Players for Global Synthetic Leather Market-
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 12th, 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 Market Growth

Increasing awareness about animal cruelty and vegan leather is one of the major factors driving the growth of global synthetic leather market. For instance, according to Multidisciplinary Digital Publishing Institute (MDPI) 2021, over $40 billion global fur industry has been under tremendous scrunity, in past few years, for its inhuman practices. Most of the fur and leather products manufactured via factory breeding, the animals are treated in small, dirty cages and later cruelly slaughtered. Then from the skin of animal, leather and fur is 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.

Asia Pacific is Anticipated to Witness the Fastest Growth in the Global Synthetic Leather Market
Geographically; Asia Pacific is expected to show a fastest growth in the global synthetic leather market over the forecast period due to increasing growth of automobile and automotive sectors and development of advance manufacturing processes in countries like Japan, India and China in this region. For instance; according to 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 Center for Automotive Research 2020, Japan invested USD 24.6 billion into North America since 2009. In 2018 Japan was third largest FDI in U.S. In automobile and automotive industries leather is used for various applications.

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The regions covered in Synthetic leather market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on 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.

Key Benefits of Global Synthetic Leather Report–
• Global Synthetic Leather Market report covers in-depth historical and forecast analysis.
• Global Synthetic Leather Market research report provides detail 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 report helps to identify opportunities in marketplace.
• Global Synthetic Leather Market report covers extensive analysis of emerging trends and competitive landscape.

Synthetic Leather Market By Regional & Country Level:
North America
• U.S.
• Canada
Europe
• U.K.
• France
• Germany
• Italy
Asia Pacific
• China
• Japan
• India
• Southeast Asia
Latin America
• Brazil
• Mexico

Table of Content
1. Chapter - Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Synthetic Leather Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Synthetic Leather Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Synthetic Leather Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter - Global Synthetic Leather Market Overview: Quantitative Analysis
4. Chapter – Global Synthetic Leather Market Analysis: Segmentation By Type
5. Chapter – Global Synthetic Leather Market Analysis: Segmentation By Application

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