The Global Synthetic Leather Market report aims to offer the readers significantly relevant information regarding the product types offered in the market, along with its various applications. The study also profiles several prominent players of the Synthetic Leather market, focusing on their business expansion strategies undertaken by them to gain a significant market share and fortify their positions in the industry. Through advanced analytical tools such as SWOT analysis and Porter’s Five Forces Analysis, strengths, weaknesses, opportunities, and threats of the key market players have been thoroughly evaluated in the report. The Synthetic Leather industry has gained significant momentum over the past decade and is expected to register a CAGR of 4.0% throughout the forecast period 2021-2028 to attain a valuation of USD 80.20 million.
The report analyzes the Synthetic Leather market by taking into consideration the key factors that drive or restrain the growth of the market. The report considers COVID-19 as one such factor. The report is furnished with the current market scenario and changes in the trends and dynamics of the industry with regard to the impact of the COVID-19 pandemic on the Synthetic Leather market. The report also strives to offer a futuristic outlook for remuneration and market growth in a post-COVID-19 scenario. It also includes the current and future impact of the pandemic on the Synthetic Leather business sphere and its key segments.
The prominent companies operating in the Synthetic Leather industry include H.R. Polycoats Pvt. Ltd., Kuraray Co., Ltd., Teijin Limited, Zhejiang Hexin Industry Group Co., Ltd., Alfatex N.V., San Fang Chemical Industry Co., Ltd., Filwel Co., Ltd., Yantai Wanhua Synthetic Leather Group Co., Ltd., BASF SE, Mayur Uniquoters Limited.
The global Synthetic Leather market is segmented based on product types offered in the market, their applications, end-user industries, different types of technologies, and key regions of the market.
Emergen Research has segmented synthetic leather market based on type, application, and region:
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Application Outlook (Revenue, USD Billion; 2021-2028)
- Purses & Wallets
Some Key Points of The Report
- On 29thJune 2020, BASF launched 10 variations of Haptex 2.0 – a new and improved series of its innovative polyurethane (PU) solution for the production of synthetic leather. Enhanced with a higher peel strength, anti-yellowing, and high abrasion performance properties, Haptex 2.0 enables high performance using synthetic leather across different industries, such as furniture, footwear, automotive, apparel, and accessories.
- Asia Pacific held largest market share in 2020 and is expected to maintain its dominance during the forecast period. China is the leading exporter of artificial leather followed by India and South Korea. Advancement in technology, favorable government policies to attract investment, coupled with increasing disposable income and population are the factors driving synthetic leather market growth in this region. However, due to the recent border skirmishes between China and India and growing trade dispute between the US and China, there has been a paradigm shift of interest toward Indian markets. Government of India has strategically used this opportunity to promote self-reliance and has incentivized various sectors especially Small and Mid-size Enterprises (SMEs) to promote manufacturing and export of artificial leather and footwear.
Radical Features of the Synthetic Leather Market Report:
- The report encompasses Synthetic Leather market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Synthetic Leather industry.
The global Synthetic Leather market features various crucial elements such as market trends, market size, market share, revenue, sales network and distribution channels, production and consumption patterns and rate, supply and demand ratio, and other strategic business decisions, to offer a better understanding of the key competitors and allow the readers to implement these fruitful strategies to expand their businesses.
The study offers both quantitative and qualitative analysis of the global Synthetic Leather market. The data is garnered through stringent primary and secondary research and further validated and verified through industry veterans and experts. The report begins with basic information about the market, such as definitions, applications, classifications, value chain analysis, among others, to facilitate a better understanding among the readers. The market offers a panoramic view of the industry through a thorough analysis of the key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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