Synthetic Leather Market Gaining Traction From Changing People s Spending Habits

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Synthetic or artificial leather is leather used in applications such as upholstery, clothing, footwear and other applications where the leather-like finish is desirable but cannot be feasible due to cost constraints. It is manufactured by covering a fabric base by a plastic layer. Here the fabric base is made out of natural or a special synthetic fiber called soft polyvinyl chloride (PVC).

Another type of fiber used for the production of synthetic leather is called polyurethane or PU leather fiber. PU leather has a unique ability to be water-proof, softer and lighter than real leather. Due to an increased interest in eco-friendliness among people and governmental probation on leather trade in some places, it can be estimated that there is a need for cost-effective vegan leather thereby generating a demand for the synthetic leather market.

According to the data analyst at IndustryARC, the market size of synthetic leather is $25 billion. The market is projected to grow at a CAGR of 6.95% during the forecast period of 2019-2025. The major region where the market exists is APAC with a regional share of 28%. The key application area is footwear with an application growth CAGR of 4.50%.

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Competitive Landscape:
There are several companies leading the synthetic leather market. These companies are Kuraray Co.Ltd., San Fang Chemical Industry Co. Ltd. , Teijin Limited, Mayur Uniquoters Ltd., Polyfabs, Aroravinyl, Jindalcoaters, Fitwel Co. Ltd. , Nan Ya Plastics, Industrial Co Ltd, H.R Polycoats Pvt Ltd, and Kolon Industries. Kuraray Co. Ltd produces leather by using machines and manpower without affecting animal life. San Fang Chemical Industry Co. Ltd. is a Japanese firm producing industry grade leather of many variations. Teijin Limited produces high-grade artificial leather under the name of Cordley. Mayur Uniquoters Ltd. impresses with its wide range of textile varieties that are being produced and offered to customers to select from.

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Leathers produced by Polyfabs boast of leather properties such as being highly durable, soft and supple, scratch resistant, consistent quality, water repellant and being innovative. Aroravinyl is based out of India and is one of the leading manufacturers, suppliers, and exporters of PVC leathers. It insists on quality management practices in the process. Jinalcoaters has a plant established in the year 2006 under the name of United Decoratives Private Limited. Fitwel Co. Ltd. Nan Ya Plastics is based primarily out of Taiwan and strives for a vision of continuous diversification, excelsior and push towards the limit towards its ambition of becoming a world leader in the leather industry.

Conclusion: The discovery of synthetic leather made it possible to maintain an ecological balance in the world with an added advantage of opening options regarding the types of leather to choose from for showcasing a decent appeal. It is becoming increasingly visible that soon in the days to come, people are going to opt for colorful synthetic leather materials boycotting their natural alternatives.

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What can you expect from the report?
The Synthetic Leather Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Synthetic Leather Market Size by Product Categories & Application
2. Synthetic Leather Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Synthetic Leather Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Synthetic Leather Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Synthetic Leather Market Strategic Analysis
18. Synthetic Leather Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Synthetic Leather Market Revenue and Volume Analysis

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