What is Global Synthetic Leather (Artificial Leather) Market?
The Global Synthetic Leather (Artificial Leather) Market is a vast and dynamic sector that encompasses a wide range of products designed to mimic the look and feel of genuine leather. Synthetic leather, also known as artificial leather, is a material that is manufactured and treated to resemble real leather in terms of texture, flexibility, and overall appearance. This market has been growing steadily over the years due to the increasing demand for cost-effective and animal-friendly alternatives to real leather. The global market for synthetic leather was valued at a substantial US$ 16450 million in 2022. It is projected to reach an impressive US$ 22630 million by 2029, indicating a steady Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2023 to 2029.
PVC, Normal PU, Microfiber PU, Ecological function PU in the Global Synthetic Leather (Artificial Leather) Market:
The Global Synthetic Leather (Artificial Leather) Market is segmented into various types based on the materials used in their production. These include PVC, Normal PU, Microfiber PU, and Ecological function PU. PVC, or Polyvinyl Chloride, is a type of synthetic leather that is known for its durability and affordability. It is widely used in various industries due to its resistance to water, fire, and UV rays. Normal PU, or Polyurethane, is another popular type of synthetic leather that is softer and more flexible than PVC. It is often used in the production of high-end fashion items due to its close resemblance to real leather. Microfiber PU is a newer type of synthetic leather that combines the durability of PVC with the softness of Normal PU. It is often used in the production of sports goods and automotive interiors. Lastly, Ecological function PU is a type of synthetic leather that is designed to be more environmentally friendly than other types. It is made from sustainable materials and is often used in the production of eco-friendly products.
Footwear, Apparel & Accessories, Furnishing, Automotive, Sports Goods, Bags, Others in the Global Synthetic Leather (Artificial Leather) Market:
The Global Synthetic Leather (Artificial Leather) Market finds its application in a variety of sectors. These include Footwear, Apparel & Accessories, Furnishing, Automotive, Sports Goods, Bags, and Others. In the Footwear sector, synthetic leather is used in the production of a wide range of shoes, from casual sneakers to formal dress shoes. In the Apparel & Accessories sector, it is used in the production of jackets, belts, and handbags, among others. In the Furnishing sector, synthetic leather is used in the production of furniture covers, curtains, and other home decor items. In the Automotive sector, it is used in the production of car seats, steering wheel covers, and other interior accessories. In the Sports Goods sector, synthetic leather is used in the production of sports equipment like footballs, basketballs, and gym equipment. In the Bags sector, it is used in the production of backpacks, handbags, and luggage. Lastly, in the Others sector, synthetic leather is used in a variety of other applications, from book covers to musical instrument cases.
Global Synthetic Leather (Artificial Leather) Market Outlook:
The global Synthetic Leather (Artificial Leather) market outlook reveals some interesting trends and patterns. The market, which was valued at US$ 16450 million in 2022, is expected to grow to US$ 22630 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2023 to 2029. The top 5 manufacturers in this market account for 10% of the global revenue, indicating a highly competitive market landscape. In terms of geographical distribution, Asia-Pacific is the largest market for synthetic leather, accounting for about 55% of the global market share. Europe follows closely behind, accounting for about 27% of the market share. When it comes to product types, normal PU is the largest segment in the synthetic leather market, accounting for over 40% of the market share. This indicates a strong preference for this type of synthetic leather among consumers and manufacturers alike.
| Report Metric | Details |
| Report Name | Synthetic Leather (Artificial Leather) Market |
| Accounted market size in 2022 | US$ 16450 in million |
| Forecasted market size in 2029 | US$ 22630 million |
| CAGR | 4.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Kuraray, Toray, Teijin, Covestro (Bayer), Shian Microfiber, Zhejiang Haobo (Wangkang Group), Asahi Kasei, Duksung, Daewon Chemical, Filwel, Kolon, San Fang Chemical, Nanya, Wenzhou Imitation Leather, Anhui Anli, Fujian Tianshou, Vulcaflex, Yantai Wanhua, Shandong Tongda, Hexin Holdings, Xiefu new materials, Huafon Microfibre, Double Elephant, Fujian Topsun, Benecke-Kaliko, Kyowa, Archilles, CGT, Mayur Uniquoters |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
