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Global Synthetic Leather/Artificial Leather Market Report 2023-2032: Market Analysis, Growth, Key Trends And Forecast | H. R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., Alfatex Italia SRL, Yantai Wanhua Synthetic Leather Group Co. Ltd.
Synthetic Leather/Artificial Leather Market Report 2023
The Business Research Company's Synthetic Leather/Artificial Leather Global Market Report 2023 the rising athleisure trend acts as the major driver for the synthetic leather/artificial leather market's growth in the forecast period. For instance, according to February 2021 data released by True Fit, a US-based size advisor that gives shoppers the right size in apparel and footwear, athleisure sales orders increased by 84 percent from 2020 to 2021.
The global synthetic leather/artificial leather market size is expected to grow from $30.61 billion in 2022 to $33.25 billion in 2023 at a compound annual growth rate (CAGR) of 8.61%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The global synthetic leather/artificial leather market size is expected to reach $44.98 billion in 2027 at a CAGR of 7.85%.
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Major competitors in the synthetic leather/artificial leather market are H. R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., Alfatex Italia SRL, Yantai Wanhua Synthetic Leather Group Co. Ltd., San Fang Chemical Industry Co. Ltd., Filwel Co. Ltd., Nan Ya Plastics Corporation, Teijin Limited, Zhejiang Hexin Industry Group Co. Ltd., Shandong Tongda Group, Jiaxing Hexin Chemical Industry Co. Ltd., Kunshan Xiefu New Material Co. Ltd., Huafeng Group, Wenzhou Huanghe Microfiber Co. Ltd., Zhejiang Meisheng New Material Co. Ltd., Xiamen Hongxin Microfiber Materials Co. Ltd., Fujian Huayang, Sanling Microfiber Leather Co. Ltd., and Wenzhou Hongdeli Synthetic Leather Co. Ltd.
A key trend in the synthetic leather/artificial leather market includes the product innovation. For instance, in April 2023, General Silicones, a Taiwan-based manufacturer of silicone products launched Compo-SiL (SL series) silicone vegan leather products. It is created especially for companies that make consumer goods like bags, backpacks, shoes, wallets, belts, book bindings, and covers and are looking for vegan leather supplies with factory-applied fabric lining.
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The synthetic leather/artificial leather market is segmented -
• By Type: Polyurethane (PU)-Based, Polyvinyl Chloride (PVC)-Based, Bio-Based
• By Grade: High-Grade, Mid-Grade
• By Application: Footwear, Furnishing, Automotive, Clothing, Bags, Purses And Wallets
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the synthetic leather/artificial leather market
The Business Research Company's "Global Synthetic Leather/Artificial Leather Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Synthetic Leather/Artificial Leather Market Include:
1. Executive Summary
2. Synthetic Leather/Artificial Leather Market Characteristics
3. Synthetic Leather/Artificial Leather Market Trends And Strategies
4. Synthetic Leather/Artificial Leather Market - Macro Economic Scenario
5. Synthetic Leather/Artificial Leather Market Size And Growth
……………
27. Synthetic Leather/Artificial Leather Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Synthetic Leather/Artificial Leather Market
29. Synthetic Leather/Artificial Leather Market Future Outlook And Potential Analysis
30. Appendix
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