Home / Advanced Materials / Synthetic Leather Market By Type (PU Synthetic Leather, PVC-based Synthetic Leather, Bio-based Leather), By End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Consumer Goods, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Synthetic Leather Market By Type (PU Synthetic Leather, PVC-based Synthetic Leather, Bio-based Leather), By End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Consumer Goods, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Published: Nov 2018 | Report Code: 59457-11-18

Industry Outlook

Synthetic Leather market value expected to witness the CAGR of 7.5% during the forecast period from 2018 to 2026. Synthetic Leather or artificial leather is a leather like plastic material that are direct substitute of natural leather in each and every end-use industry. These leathers are generally made using polyurethane and polyvinylchloride and marketed under different names such as faux leather, artificial leather, pleather, etc. Synthetic leather finds promising End-use Industry in almost every end-use industry of natural leather that includes footwear, furnishing, automotive, clothing, clothing, consumer goods, and others. Footwear accounted for the largest demand share of synthetic leather, and the demand for synthetic leather is likely to rise in this segment on account surge in demand for footwear in Asia-Pacific, Latin America, and Europe region. Growing urbanization, rising disposable income, changing lifestyle, and growing demand for western and fashionable brands in developing economies of Asia-Pacific making it the dominating region. North America closely follow Asia-Pacific in terms synthetic leather consumption, with the U.S. being the market leader.

Growing demand from footwear and automotive industry, cost effectiveness, mitigate the risk of animal killing, greater flexibility than pure leather in terms of designs and customization are some of the major factors driving the growth of synthetic leather across the globe. However, few harmful effects of synthetic material such as emission, non-biodegradability, and hazardous waste coupled with extensive manufacturing process projected to hamper the growth of the market during the forecast period. Development of bio-based and plant-based leather expected to offer lucrative growth opportunity for this market. Major players operating in the synthetic leather market includes Kuraray Co. Ltd. (Japan), Toray Industries (Japan), Teijin Limited (Japan), San Fang Chemical Industry Co. Ltd (Taiwan), Nan Ya Plastics Co. Ltd. (Taiwan), and Mayur Uniquoters Ltd. (India) among others.

Market Snapshot

Market Snapshot: Global Synthetic Leather Market Volume

Synthetic Leather Market

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"PU Synthetic Leather Segment Dominate the Synthetic Leather Market by Type"

PU synthetic leather dominated the synthetic leather market by type in 2017 and expected to maintain its dominance throughout the forecast period. Demand for polyurethane (PU) leather has been growing fast owing to increasing adoption from sports and packaging industry. Moreover, PU synthetic leather is also one of the substitute to polyvinyl chloride (PVC) synthetic leathers that have negative environmental impact making it the fastest growing segment during the forecast period. However, PVC-based synthetic leather offers some superior advantages such as higher flexibility, performance in low temperature, and low cost than PU synthetic leather.

Bio-based leather also projected to show significant growth rate during the forecast period. Bio-based leather are made from yarn of tree fiber hence these are bio-degradable and sustainable alternatives to pure leather. Bio-based leather demand is coming majorly from clothing industry.

Synthetic Leather Market

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"Footwear Led the End-use Industry Segment in 2017"

Footwear led the synthetic leather end-use industry market in 2017 and expected to maintain its dominance throughout the forecast period. Growing disposable incomes, and changing lifestyles of consumers is driving the demand for synthetic leather in the footwear industry. Countries with extreme climatic conditions requires different kinds of footwear with high performance material also expected to increase the synthetic leather consumption in the footwear industry. Rising demand of athletic footwear owing to the concerns towards personal health and inclination towards different physical activities among the population coupled with periodic sports events such as Olympic, Commonwealth Games, Asian Games, Cricket World Cup, etc. promoting the demand for footwear across the globe which in turn driving the demand for synthetic leather from footwear industry.

Clothing and Automotive end-use industry projected to witness the significant CAGR during the forecast period owing to changing fashion preferences leading rising inclination towards luxury products and increasing demand for lightweight leather which makes seats comfortable and resistance to cold and hot temperatures, respectively.

Synthetic Leather Market

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"Asia-Pacific to Remain Dominant Region during the Forecast Period"

Asia-Pacific was the largest regional market for synthetic leather in 2017, also expected to see strong gains in coming years as well, on account of flourishing end-use industries such as footwear, furnishing, automotive, etc. coupled with rising disposable income and economic growth. Majority of the synthetic leather demand in Asia-Pacific comes from China and India. Asia-Pacific economies are characterized by favorable and liberal government regulations, rapid industrializations, and increasing westernization will significantly contribute to the growth of artificial leather market in China, India and Japan. China is the largest producer leather followed by India in the Asia-Pacific region. Asia-Pacific is also identified as the fastest growing region during the forecast period. North America closely follows Asia-Pacific in terms of market share, with U.S. being the largest consumer in the region. Increasing demand for automotive upholstery and sporting goods is the key driving factor for synthetic leather in the region.

Synthetic Leather Market

"New Product Development and Expansion are among the Preferred Strategy Adopted by Key Players in Synthetic Leather Market"

Companies are resorting to new product development as a major strategy to cater the consumer varying demand pertaining to natural and high performance leather products and strengthen their market positions in the global synthetic leather industry. Consequently, development of upgraded & customized bio-based products provide high growth opportunities to synthetic leather manufacturers. For instance, Teijin Cordley limited a subsidiary of Teijin's Group introduced a new high grade synthetic leather under the brand named as Maestley in April 2016. The company expanded its series of Maestley products by adoption of natural leather processing procedures. Expansion is also one of the key strategy being adopted by key players to cater the ever rising demand for synthetic leather across the globe. To cater the domestic demand for synthetic leather in Italy and other European countries and to keep the competitors at bay Toray Industries invested US$ 276.87 Mn for the capacity expansion of its synthetic leather output in Italy in March, 2017. Key players operating the market includes Kuraray Co. Ltd. (Japan), Nan Ya Plastics Co. Ltd. (Taiwan), Teijin Limited (Japan), San Fang Chemical Industry Co. Ltd (Taiwan), Mayur Uniquoters Ltd. (India), Toray Industries (Japan), and Zhejiang Hexin Industry Group Co., Ltd.  (China) among others.

Synthetic Leather Market

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Historical & Forecast Period

Each market segment is analyzed in our study for the period of 2016 to 2026 with 2017 as the base year while period from 2018 to 2026 is considered for the CAGR calculation.

Report Scope

The report enlightens the thorough outline of global Synthetic Leather market by categorizing the market in different segment given below:

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million
Segmentation

 By Type (2016–2026; US$ Mn)
 • PU Synthetic Leather
 • PVC-based Synthetic Leather
 • Bio-based Synthetic Leather

 By End-use Industry (2016–2026; US$ Mn)
 • Footwear
 • Furnishing
 • Automotive
 • Clothing
 • Consumer Goods
 • Others (sporting goods, electronics packaging, etc.)

 Geography Segment (2016–2026; US$ Mn)
 • North America (United States and Canada)
 • Europe (U.K., Germany, Rest of Europe)
 • Asia Pacific (China, Japan, Rest of Asia Pacific)
 • Latin America (Brazil, Mexico, Rest of Latin America)
 • Middle East and Africa (GCC, Rest of MEA)

Key questions answered in this report

  • What are the current market trends in the synthetic leather market and valuable opportunities for the players?
  • Which is the most lucrative region for investment?
  • What are different government and environment regulation governing this market across the world?
  • What is the market size and trends in emerging markets?
  • Which are the prime end-use Industry of synthetic leather across different geographies?
  • Which are the different types of synthetic leather and their market sizes?
  • Which are the leading players and their market position?

1. Preface
1.1. Report Description
1.1.1. Study Purpose
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top Down Approach
1.3.4.2. Bottom Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Global SL Market Portraiture
2.2. Global SL Market, by Type, 2017 (US$ Bn)
2.3. Global SL Market, by End-use, 2017 (US$ Bn)
2.4. Global SL Market Share, by Geography, 2017 (US$ Bn)

3. Synthetic Leather: Market Dynamics and Outlook
3.1. Market Overview
3.2. Drivers
3.2.1. Increasing Demand for Eco-friendly and Cruelty-free Leather
3.2.2. Driver 2
3.3. Challenges
3.3.1. Challenge 1
3.3.2. Challenge 2
3.4. Opportunities
3.4.1. Opportunity 1
3.5. Attractive Investment Proposition, by Geography, 2017
3.6. Competitive Landscape, by Key Players, 2017

4. Global Synthetic Leather (SL) Market, by Type, 2016-2026 (US$ Bn) (Million Meters)
4.1. Overview
4.2. PU Synthetic Leather
4.3. PVC-based Synthetic Leather
4.4. Bio-based Leather

5. Global Synthetic Leather (SL) Market, by End-use, 2016-2026 (US$ Bn) (Million Meters)
5.1. Overview
5.2. Footwear
5.3. Furnishing
5.4. Automotive
5.5. Clothing
5.6. Consumer Goods
5.7. Others

6. Global Synthetic Leather (SL) Market, by Geography, 2016 – 2026 (US$ Bn) (Million Meters)
6.1. Overview
6.2. North America SL Market, 2016 – 2026
6.2.1. North America SL Market, by Type, 2016 – 2026 (US$ Bn) (Million Meters)
6.2.2. North America SL Market, by End-use, 2016 – 2026 (US$ Bn) (Million Meters)
6.2.3. North America SL Market, by Country, 2016 – 2026 (US$ Bn) (Million Meters)
6.2.3.1. U.S.
6.2.3.2. Canada
6.3. Europe SL Market, 2016 – 2026
6.3.1. Europe SL Market, by Type, 2016 – 2026 (US$ Bn) (Million Meters)
6.3.2. Europe SL Market, by End-use, 2016 – 2026 (US$ Bn) (Million Meters)
6.3.3. Europe SL Market, by Country/Region, 2016 – 2026 (US$ Bn) (Million Meters)
6.3.3.1. U.K.
6.3.3.2. Germany
6.3.3.3. France
6.3.3.4. Rest of Europe
6.4. Asia Pacific SL Market, 2016 – 2026
6.4.1. Asia Pacific SL Market, by Type, 2016 – 2026 (US$ Bn) (Million Meters)
6.4.2. Asia Pacific SL Market, by End-use, 2016 – 2026 (US$ Bn) (Million Meters)
6.4.3. Asia Pacific SL Market, by Country/Region, 2016 – 2026 (US$ Bn) (Million Meters)
6.4.3.1. Japan
6.4.3.2. China
6.4.3.3. India
6.4.3.4. Rest of Asia Pacific
6.5. Latin America SL Market, 2016 – 2026
6.5.1. Latin America SL Market, by Type, 2016 – 2026 (US$ Bn) (Million Meters)
6.5.2. Latin America SL Market, by End-use, 2016 – 2026 (US$ Bn) (Million Meters)
6.5.3. Latin America SL Market, by Country/Region, 2016 – 2026 (US$ Bn) (Million Meters)
6.5.3.1. Brazil
6.5.3.2. Mexico
6.5.3.3. Rest of Latin America
6.6. Middle East & Africa (MEA) SL Market, 2016 – 2026
6.6.1. Middle East & Africa SL Market, by Type, 2016 – 2026 (US$ Bn) (Million Meters)
6.6.2. Middle East & Africa SL Market, by End-use, 2016 – 2026 (US$ Bn) (Million Meters)
6.6.3. Middle East & Africa SL Market, by Region/Region, 2016 – 2026 (US$ Bn) (Million Meters)
6.6.3.1. GCC
6.6.3.2. Rest of Middle East and Africa

7. Company Profiles
7.1. Kuraray Co., Ltd.
7.1.1. Business Description
7.1.2. Financial Information (Subject to Data Availability)
7.1.3. Product Portfolio
7.1.4. Key Developments
7.2. San Fang Chemical Industry Co., Ltd.
7.3. Teijin Limited
7.4. Mayur Uniquoters Limited
7.5. Nan Ya Plastics Industrial Co., Ltd.
7.6. Filwel Co. Ltd
7.7. Toray Industries Inc.
7.8. Zhejiang Hexin Industry Group Co., Ltd.
7.9. Yantai Wanhua Synthetic Leather Group Co., Ltd.

* SL - Synthetic Leather

FIG 1. Synthetic Leather (SL) Market: Research Methodology
FIG 2. Market Size Estimation – Top Down & Bottom up Approach
FIG 3. SL Market Segmentation
FIG 4. Global SL Market, by Type, 2017 (US$ Mn)
FIG 5. Global SL Market, by End-use, 2017 (US$ Mn)
FIG 6. Global SL Market, by Geography, 2017 (US$ Mn)
FIG 7. Attractive Investment Proposition, by Geography, 2017
FIG 8. Competitive Analysis: Global SL Market, by Key Players, 2017
FIG 9. Global PU SL Market, 2016 - 2026 (US$ Mn)
FIG 10. Global PVC-based SL Market, 2016 - 2026 (US$ Mn)
FIG 11. Global Bio-based Leather Market, 2016 - 2026 (US$ Mn)
FIG 12. Global SL Market for Footwear, 2016 - 2026 (US$ Mn)
FIG 13. Global SL Market for Furnishing, 2016 - 2026 (US$ Mn)
FIG 14. Global SL Market for Automotive, 2016 - 2026 (US$ Mn)
FIG 15. Global SL Market for Clothing, 2016 - 2026 (US$ Mn)
FIG 16. Global SL Market for Consumer Goods, 2016 - 2026 (US$ Mn)
FIG 17. Global SL Market for Other Applications, 2016 - 2026 (US$ Mn)
FIG 18. U.S. SL Market, 2016 - 2026 (US$ Mn)
FIG 19. Canada SL Market, 2016 - 2026 (US$ Mn)
FIG 20. U.K. SL Market, 2016 - 2026 (US$ Mn)
FIG 21. Germany SL Market, 2016 - 2026 (US$ Mn)
FIG 22. Rest of Europe SL Market, 2016 - 2026 (US$ Mn)
FIG 23. China SL Market, 2016 - 2026 (US$ Mn)
FIG 24. Japan SL Market, 2016 - 2026 (US$ Mn)
FIG 25. India SL Market, 2016 - 2026 (US$ Mn)
FIG 26. Rest of Asia Pacific SL Market, 2016 - 2026 (US$ Mn)
FIG 27. Brazil SL Market, 2016 - 2026 (US$ Mn)
FIG 28. Mexico SL Market, 2016 - 2026 (US$ Mn)
FIG 29. Rest of Latin America SL Market, 2016 - 2026 (US$ Mn)
FIG 30. GCC SL Market, 2016 - 2026 (US$ Mn)
FIG 31. Rest of Middle East and Africa SL Market, 2016 - 2026 (US$ Mn)

TABLE 1 Global Synthetic Leather (SL) Market Portraiture
TABLE 2 Global SL Market, by Type, 2016 – 2026 (US$ Mn)
TABLE 3 Global SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 4 Global SL Market, by Geography, 2016 – 2026 (US$ Mn)
TABLE 5 North America SL Market, by Product Type, 2016 – 2026 (US$ Mn)
TABLE 6 North America SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 7 North America SL Market, by Country, 2016 – 2026 (US$ Mn)
TABLE 8 Europe SL Market, by Product Type, 2016 – 2026 (US$ Mn)
TABLE 9 Europe SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 10 Europe SL Market, by Country/Region, 2016 – 2026 (US$ Mn)
TABLE 11 Asia Pacific SL Market, by Product Type, 2016 – 2026 (US$ Mn)
TABLE 12 Asia Pacific SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 13 Asia Pacific SL Market, by Country/Region, 2016 – 2026 (US$ Mn)
TABLE 14 Latin America SL Market, by Product Type, 2016 – 2026 (US$ Mn)
TABLE 15 Latin America SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 16 Latin America SL Market, by Country/Region, 2016 – 2026 (US$ Mn)
TABLE 17 Middle East and Africa SL Market, by Product Type, 2016 – 2026 (US$ Mn)
TABLE 18 Middle East and Africa SL Market, by End-use, 2016 – 2026 (US$ Mn)
TABLE 19 Middle East and Africa SL Market, by Region, 2016 – 2026 (US$ Mn)
TABLE 20 Kuraray Co., Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 21 San Fang Chemical Industry Co., Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 22 Teijin Limited: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 23 Mayur Uniquoters Limited: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 24 Nan Ya Plastics Industrial Co., Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 25 Filwel Co. Ltd: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 26 Toray Industries Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 27 Zhejiang Hexin Industry Group Co., Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 28 Yantai Wanhua Synthetic Leather Group Co., Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)

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