Global Synthetic Leather Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Increasing awareness aboutanimal cruelty and vegan leather is one of the major factors which driving the growthof the Global Synthetic Leather Market.

Global Synthetic Leather Market is valued atUSD 60.91 Billion in 2020and expected to reachUSD 83.44 Billion by 2027with aCAGR of 4.6% overthe forecast period.

Scope of GlobalSynthetic LeatherMarket Report:

Synthetic leather is also called artificial leather, it is material which is made from other material not from animal skin. It is made by using different methods like Presstoff, in this method leather is made from paper pulp. Another one is Rexine, in this method leather is made from cloth surfaced with mixture of nitrocellulose, camphor oil, alcohol. Some types of leather are made by fermentation method. Synthetic leather is known by many other names like leatherette, imitation leather, PU leather, faux leather, pleather, vegan leather etc. PU leather or polyurethane leather is an synthetic leather made of thermoplastic polymer used for making footwear or furniture. PU lather has many types like bicast leather, split leather, bonded leather, reconstituted leather, and corrected grain leather. Synthetic leather are cheaper than genuine leather because it is easier to manufacture. It has applications in clothing, footwear, upholstery and many more sectors. In footwear industries, synthetic leather is used for shoe linings, shoe uppers and insoles etc. Whether Faux leather is used in furniture industries for manufacturing of sofas, chairs and headboard upholstery. Alternative leather or leather substitute were invented in 19^thcentury. Nitrocellulose i.e. guncotton leather was manufactured by German chemist Christian Friedrich Schonbein in 1845. Later in 1846 collodion (pyroxylin) leather was developed by French scientist Louis Nicolas Menard.

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The COVID-19 has shown a negative impact on the growth of the global synthetic leather market owing to the lockdown and disturbance in the supply chain network of most of the industries. It has applications in the industries such as footwear, furniture, automotive, and others which have shown a decline in the growth thus, it has adversely affected the synthetic leather market. But, it will get the pace again with recovery from Covid-19 situation.

Global synthetic leather market is segmented on the basis of types, end-user, AND region & country level. Based on types, the synthetic leather market is segmented into PU-based, PVC- based, Bio-based. Based on end-user, the market is divided into footwear, furnishing, automotive, clothing, bags, purses & wallets, others.

Global Synthetic Leather Market Segmentation:

By Application:

• PU-based
• PVC- based
• Bio-based

By End-User:

• Footwear
• Furnishing
• Automotive
• Clothing
• Bags, purses & wallets
• Others

Key Players for GlobalSynthetic LeatherMarket-

Some key players for Global Synthetic Leather Market are Kuraray Co. Ltd., Mayor Uniquoters Limited, Teijin Limited, Zhejiang Hexin Industry Group Co. Ltd, Yantai Wanhua Synthetic Leather Group Co. Ltd., NAN YA plastics corporation, Alfatex N.V., H.R. Polycoats Pvt. Ltd., san Fang Chemical Industry Co. Ltd., Bombay Dyeing, E. I. du pont Nemours and Company, Indorma Corporation, China Petrolium Corporation, Toyobo Co Ltd., Toray Chemical Korea lnc. and others.

News:

BASF and Greentech Established Joint Laboratory to Drive Innovation in Sustainable Synthetic Leather Development

On June 12^th, 2019; A Memorandum of Understanding was inked by BASF and Greentech, a well-known Chinese synthetic leather firm, to establish a collaborative laboratory for synthetic leather development. The joint laboratory is the result of a long-term partnership between the two companies. BASF will focus on technical know-how, product development and production of polyurethane solutions, while Greentech will be responsible for the research and development of synthetic leather for a automobiles, fast-moving consumer products, and furniture are just a few examples. BASF made significant innovations to the synthetic leather manufacturing techniques with the introduction of non-organic solvent tops made without the use of organotin.

Increasing Awareness about Animal Cruelty and Vegan Leather is One of the Major Factors Driving the Market Growth

Increasing awareness about animal cruelty and vegan leather is one of the major factors driving the growth of global synthetic leather market. For instance, according to Multidisciplinary Digital Publishing Institute (MDPI) 2021, over $40 billion global fur industry has been under tremendous scrunity, in past few years, for its inhuman practices. Most of the fur and leather products manufactured via factory breeding, the animals are treated in small, dirty cages and later cruelly slaughtered. Then from the skin of animal, leather and fur is manufactured. Some civic groups and animal protection groups like People for the Ethical Treatments of Animals (PETA) strongly encourage the people for alternative products and animal friendly production processes. Day by day the vegan population in the world is increasing; this population is strongly restricting the use of animal products. So, the increasing awareness about animal cruelty and vegan leather are boosting the growth of global synthetic leather market.

In addition, the ban of fur and leather by top brands is also promoting the growth of synthetic leather market. For instance; Macy’s lnc. and Bloomingdales in October 2019, announced that they would end the sale of animal fur products in 2020. Macy’s lnc. will close its Fur Vault and Maximilian stores by 2021 as a result of this decision. Also Prada Group in 2020, they will no longer feature fur in their collections. Also includes brands Miu Miu. Phillip Lim in 2019 also banned the fur in their collections. Coach brand in 2019, who previously used real mink, fox, coyate and rabbit fur in its designs announced the fur free products. Also brands like Farfetch Burberry, Victoria Bechham, Chanel, dian von Furstenberg, Versace, Maison Margiela, Furla Group, Michael kors, Gucci, yoox-Net-a-Porter Group and Armani group banned the animal leather and fur in their collections.

Furthermore, its growing applications in furnishing, rising demand for alternative genuine leather, booming footwear sector, rapid development of construction and automotive industries are some other factors supplementing the growth of synthetic leather market. However, hazardous or harmful effects of synthetic leather which are made from PU and PVC on human and animal health as well as environment may hinder the market growth. In spite of that, the development of bio-based synthetic leather may offer an opportunity for the further growth of the market.

Asia Pacificis Anticipated to Witness the Fastest Growth in the Global Synthetic Leather Market

Geographically; Asia Pacific is expected to show a fastest growth in the global synthetic leather market over the forecast period due to increasing growth of automobile and automotive sectors and development of advance manufacturing processes in countries like Japan, India and China in this region. For instance; according to ARCIALA series on Intellectual Assets and Law in Asia 2019, in 2017 India was the world’s fourth largest automobile and automotive market, and the demand for Indian vehicles continues to grow in the domestic and international market. According to Center for Automotive Research 2020, Japan invested USD 24.6 billion into North America since 2009. In 2018 Japan was third largest FDI in U.S. In automobile and automotive industries leather is used for various applications.

Europe is expected to witness the significant growth in the global synthetic leather market due to strict government regulations for animal slaughtering and fur production in this region. For instance; according to MDPI 2021, England has banned fur breeding since 2000 and Austria since 2004. Also in Netherlands, the second largest producer of mink passed the law on banning fur breeding in 2012 and declared all farms which manufacture mink should be closed by 2024.

The regions covered in Synthetic leather market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on country level, the market of Synthetic leather is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

This comprehensive report will provide:

• Enhance your strategic decision making
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• Increase your industry knowledge
• Keep you up-to-date with crucial market developments
• Allow you to develop informed growth strategies
• Build your technical insight
• Illustrate trends to exploit
• Strengthen your analysis of competitors
• Provide risk analysis, helping you avoid the pitfalls other companies could make
• Ultimately, help you to maximize profitability for your company.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2019?
• How will each segment grow over the forecast period and how much revenue will these segment account for in 2027?
• Which region has more opportunities?

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