Synthetic Leather Market Poised to Reach US$ 48.4 Billion by 2028 Globally, at a CAGR of 4.2%

IMARC Group, a leading market research company, has recently releases report titled "Synthetic Leather Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global synthetic leather market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Synthetic Leather Market?

The global synthetic leather market size reached US$ 37.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

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What is Synthetic Leather?

Synthetic leather, also referred to as faux or artificial leather, is a man-made material designed to replicate the look and feel of genuine leather. It is created by combining various synthetic materials through advanced manufacturing processes. It offers a cruelty-free alternative to traditional leather while still providing a similar aesthetic appeal. It is often more budget-friendly than genuine leather, allowing individuals to enjoy the look and feel of leather without the higher price tag. It can be easily dyed and textured to achieve specific colors and patterns, providing greater design flexibility for various applications. It is more uniform in texture and appearance, ensuring a consistent look across products.

What are the growth prospects and trends in the synthetic leather industry?

At present, the increasing demand for synthetic leather, as it is resistant to cracking, fading, and wear, making it a durable choice for products that experience regular use, represents one of the crucial factors impelling the market growth in India.

Besides this, the rising utilization of synthetic leather for manufacturing jackets, pants, skirts, and accessories, such as belts, bags, and shoes, is supporting the growth of the market. In addition, the growing employment of synthetic leather for upholstering sofas, chairs, and other seating options is offering a favorable market outlook.

Apart from this, the increasing adoption of synthetic leather in the automotive sector in car interiors for seats, steering wheels, and dashboards, offering a luxurious feel and appearance, is bolstering the growth of the market.

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The report has segmented the market on the basis of region, type, application and end use industry.

Breakup by Type:
• Bio-Based
• Polyvinylchloride (PVC) Based
• Polyurethane (PU) Based

Breakup by Application:
• Clothing
• Bags
• Shoes
• Purses and Wallets
• Accessories
• Car Interiors
• Belts
• Sports Goods
• Others

Breakup by End Use Industry:
• Footwear
• Furniture
• Automotive
• Textile
• Sports
• Electronics
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Asahi Kasei Corporation, DuPont Tate & Lyle Bio Products Company LLC, FILWEL Co. Ltd. (Air Water Inc.), H.R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co. Ltd., Teijin Limited and Zhejiang Hexin Holdings Co. Ltd.

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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