The Synthetic Leather (Artificial Leather) research report presents cutting-edge information about the Synthetic Leather (Artificial Leather)market during the estimated period and its development in the future. It provides detailed data about the performance of distributors, traders, and dealers to gain financial market status and current scenario. The Synthetic Leather (Artificial Leather)research report focuses on key market opportunities, growth factors, revenue forecast, competitive landscape, and market trends. It also provides market size estimation along with CAGR value that allows understanding market economy.
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Synthetic Leather (Artificial Leather) Market by Type (Polyurethane, Polyvinyl Chloride, Bio-based), End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, Sports, Electronics) and Region – Global Forecast to 2025.The synthetic leather market size is estimated to be USD 63.3 billion in 2020 and is projected to reach USD 78.5 billion by 2025, at a CAGR of 4.4% between 2020 and 2025.
The report provides a comprehensive analysis of company profiles listed below:
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“PU-based leather is the largest type for synthetic leather market in 2019”
PU-based leather is generally made using PU and different fabrics. It is made by coating a fabric such as polyester or cotton with a flexible polymer. It is further treated by various processes to look like animal hide-based leather. PU-based synthetic leather is made by using soft polymers, hence does not require additional plasticizers. It offers various advantages such as waterproof, lightweight, and softness. In some cases, PU-based leather may tear easily, but does not fade or crack in sunlight.
“Footwear is estimated to be the largest end-use industry in synthetic leather market between 2020 and 2025.”
Synthetic leather is widely used in the footwear industry due to its excellent properties and high durability. It is used in shoe linings, shoe uppers, and insoles to make different types of footwear such as sports shoes, shoes & boots, and sandals & slippers. The increasing demand for footwear in developed and emerging countries is expected to drive the demand for synthetic leather. Synthetic leather is widely used to manufacture sports shoes for various games around the world due to its cost-effectiveness
“APAC is expected to be the largest synthetic leather market during the forecast period, in terms of value and volume.”
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The synthetic leather industry is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
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