Synthetic leather Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies

Global Synthetic leather report from Global Insight Services is the single authoritative source of intelligence on Synthetic leather market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Synthetic leather is a material made to look and feel like natural leather, but without using any animal products. It is typically made from polyurethane, PVC, or other synthetic materials. Synthetic leather is often used in clothing, upholstery, and other applications where real leather would be too expensive or difficult to maintain.

Key Trends
The key trends in synthetic leather technology are the development of new and improved synthetic leather materials, the use of synthetic leather in a wider range of products, and the increasing popularity of synthetic leather.

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Market Segments
The Synthetic Leather Market is segmented by type, application, and region. By type, the market is divided into PU, PVC, and bio-based. Based on application, it is bifurcated into footwear, clothing, furnishing, automotive, wallets, bags & purses, and others. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players
The Synthetic Leather Market includes players such as Kuraray Co., Ltd., H.R. Polycoats Pvt. Ltd., Alfatex Italia SRL, Filwel Co., Ltd., Alfatex Italia SRL, San Fang Chemical Industry Co., Ltd., Mayur Uniquoters Limited, Teijin Limited, Nan Ya Plastics Corporation, and Zhejiang Hexin Industry Group Co., Ltd.

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Key Drivers
The key drivers of the synthetic leather market are the increasing demand for synthetic leather from the automotive and footwear industries, and the growing popularity of veganism.

The automotive industry is the largest end-user of synthetic leather, accounting for around 60% of the total demand. Synthetic leather is used in the manufacture of car seats, steering wheels, and other interior upholstery. The footwear industry is the second-largest end-user of synthetic leather, accounting for around 20% of the total demand. Synthetic leather is used in the manufacture of shoes, boots, and other footwear.

The growing popularity of veganism is also driving the demand for synthetic leather. Veganism is a lifestyle that avoids all animal products, including leather. As more people adopt veganism, the demand for vegan-friendly products, such as synthetic leather, is increasing.

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