San Francisco,
Dec 04 The
global synthetic
leather market is expected to reach USD 85.05 billion by 2025,
according to a new report by Grand View Research, Inc. Globally increasing
applications in foot wears has been a major factor driving market growth. In
addition, increasing focus towards animal rights led by several organizations
and rising stringency in laws governing real leather are propelling demand for
synthetic leather.
Synthetic
leather materials are competing with natural leather for over three decades
owing to its superior properties such as high durability, strength, UV
resistance, easy maintenance and high gloss finish. Cheaper prices of products
made up from faux leather continue to attract huge number of customers from
middle and high income level groups. However, in countries such as Japan, the
product is facing competition from Fumikodata, which is a replica of real
leather and is a cruelty free material.
Polyurethane
was the largest product category in 2015 and is expected to grow at the fastest
CAGR over the forecast period. PVC is anticipated to maintain a slow growth
rate on account of its properties which include sticky finish and lesser
durability.
Footwear
application segment is expected to observe the fastest growth over the next
nine years with an estimated CAGR of around 9.7% from 2016 to 2025. Cheaper
costs, fluctuating climatic conditions in countries creating needs for several
types of footwear coupled with rising disposable income levels are fueling the
demand for synthetic leather in footwear segment. Moreover, trend of
incorporating athletic shoes in daily lifestyle is further augmenting demand of
the application segment over the forecast period.
Browse full research report on Synthetic Leather Market:
www.grandviewresearch.com/industry-analysis/synthetic-leather-market
Further key findings from the report suggest:
- The global
demand for artificial leather exceeded 15,780 million meter in 2015 and is
expected to grow at a CAGR of 9.5% from 2016 to 2025
- PU leather
emerged as the largest product segment in 2015 and is estimated to
generate revenue over USD 51.9 billion by 2025
- Global market
demand in footwear was USD 10.1 billion in 2015 and is anticipated to
witness fastest growth over the next nine years
- The U.S.
synthetic leather market in PVC was 513.2 million meter in 2015 and is
estimated to reach a total volume of over 1,169.7 million meter by 2025
- The industry
in Asia Pacific is projected to witness substantial growth over the next
decade owing to rapid economic growth across countries such as India,
China, Japan and Korea. The regional market is expected to grow at a CAGR
of 11.7% from 2016 to 2025
- Key players
including Nan Ya Plastics Corporation, Mayur Uniquoters Limited, Alfatex
Italia SRL, and Kuraray Co. Ltd. dominated the market
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the global synthetic leather market on the basis of
product, application, and region:
Synthetic
Leather Product Outlook (Volume, Million Meters; Revenue, USD Billion, 2014 -
2025)
- PU
- PVC
- Bio based
Synthetic
Leather Application Outlook (Volume, Million Meters; Revenue, USD Billion, 2014
- 2025)
- Furnishing
- Automotive
- Footwear
- Bags &
wallets
- Clothing
- Others
Synthetic
Leather Regional Outlook (Volume, Million Meters; Revenue, USD Billion, 2014 -
2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central &
South America
- Middle East
& Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-synthetic-leather-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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