The global synthetic leather market is anticipated to reach USD 66.24 billion by 2030 and is projected to grow at a CAGR of 7.87% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness among consumers regarding animal exploitation, aided by programs run by organizations such as PETA, has played a major role in increasing the demand for leather alternatives. The growing supply-demand gap in the natural leather industry is also a major factor responsible for manufacturers opting for synthetic or artificial leather. Furthermore, natural leather is obtained from animals, which has resulted in animal killings. There have been various guidelines and laws established by various countries to protect animal rights. Animal rights laws have become a major hurdle for natural leather manufacturers in several countries.
Synthetic Leather Market Report Highlights
· The automotive application segment is anticipated to grow at a CAGR of 8.9% over the forecast period. Synthetic leather is used in several automotive applications such as upholstery, dashboards, headliners, seat belts, airbags, and floor & trunk carpets. It is employed in passenger vehicles, light & commercial vehicles, heavy trucks, and buses & coaches as it is lighter than real leather. Its high elasticity enables passenger comfort in addition to providing resistance against hot & cold temperatures and spillage. The product also increases the durability of automotive interiors and reduces maintenance requirements
· The PU synthetic leather segment held the largest market share of 60.8% in 2023. PU leather has good elasticity, resistance to solvents, high tensile strength, and skin abrasion resistance. These properties have been a major help in increasing its market penetration in the automotive, footwear, and furnishing sectors
· Asia Pacific dominated the synthetic leather market. China is the largest market for synthetic leather in Asia Pacific. It is also among the major consumers of leather in primary application segments such as automotive, furnishing, and clothing. Automotive and footwear industry, which are vital application segments for synthetic leather, are witnessing a rapid growth in the country. China mainly imports synthetic leather from India, Korea, and Italy
· In December 2021, Dow, a U.S.-based company, announced the launch of LUXSENSE, a silicone synthetic leather. It is the world's first high-end silicone synthetic leather material designed to meet specifications in furniture, wearable devices, fashion, transportation seating and interiors, and consumer electronics, offering unique features
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Manufacturing activities of natural leather, especially tanning, lead to pollution of the nearby surroundings. This is another major reason leading to the shift in preference toward synthetic leather. Stringent environmental laws and government regulations have been influential in promoting the demand for synthetic leather.
India is among the world’s top five producers of leather. However, the Central government of India has banned the slaughter of cows for meat and leather, which has adversely affected the leather industry in the country. Most of India’s leather and meat industry comprises unorganized players, owing to which a reduction in the annual production from these industries is not feasible to estimate. The market situation has widened the demand-supply gap of genuine leather, which is expected to supplement the India PU market’s growth over the forecast period.
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We segmented the global synthetic leather market based on type, application, and region.
Synthetic Leather Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
· PU Synthetic Leather
· PVC Synthetic Leather
· Bio-based Leather
Synthetic Leather Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
· Furnishing
o Chairs
o Sofas
o Other Furnishing
· Automotive
o Seats
o Interior Furnishings
· Footwear
o Sports Shoes
o Formal Shoes
· Wallets, bags & purses
o Wallets
o Bags
o Purses
· Clothing
o Jackets
o Belts
o Other Clothing
· Other Applications
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Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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The new Leather and Faux Leather Sofas Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
Ltd., Маn Wаh Ноldіngѕ Lіmіtеd., Steel Case, HNI Corporation, National Office Furniture, and Cronwell.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Leather and Faux Leather Sofas Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/leather-and-faux-leather-sofas-market/download-sampleMarket DynamicsThe global leather and faux leather sofas market is estimated to grow at an exciting rate in the coming years.
Emerging interior design trends and significant investment in the renovation of old buildings are expected to add some growth to the market.
Faux leather is a fabric that looks like leather, but is actually made out of other materials.
It’s commonly used to make a wide range of products, including garments and shoes, furniture and auto upholstery, and electronics accessories.
Also known as leatherette, pleather, or Naugahyde?, this material is often cheaper and more versatile than real leather, but may not be as high-quality.According to this study, over the next five years the Faux Leather market will register a 5.8% CAGR in terms of revenue, the global market size will reach US$ 2970 million by 2024, from US$ 2240 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Faux Leather business, shared in Chapter 3.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-faux-leather-2019-2024-665This report presents a comprehensive overview, market shares, and growth opportunities of Faux Leather market by product type, application, key manufacturers and key regions and countries.This study considers the Faux Leather value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.PU LeatherPVC LeatherOtherSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.ClothesShoesFurnitureAutomotiveOtherThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: Breakdown data in in Chapter 3.Du PontKurarayTorayBASFTeijinHexin GroupSan Fang ChemicalAnli GroupUltrafabricsWillow TexSIMNUResearch objectives:To study and analyze the global Faux Leather consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Faux Leather market by identifying its various subsegments.Focuses on the key global Faux Leather manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Faux Leather with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of Faux Leather submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/consumer-goods-and-services/global-faux-leather-2019-2024-665Table of content1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Faux Leather Consumption 2014–20242.1.2 Faux Leather Consumption CAGR by Region2.2 Faux Leather Segment by Type2.2.1 PU Leather2.2.2 PVC Leather2.2.3 Other2.3 Faux Leather Consumption by Type2.3.1 Global Faux Leather Consumption Market Share by Type (2014–2019)2.3.2 Global Faux Leather Revenue and Market Share by Type (2014–2019)2.3.3 Global Faux Leather Sale Price by Type (2014–2019)2.4 Faux Leather Segment by Application2.4.1 Clothes2.4.2 Shoes2.4.3 Furniture3 Global Faux Leather by Players3.1 Global Faux Leather Sales Market Share by Players3.1.1 Global Faux Leather Sales by Players (2017–2019)3.1.2 Global Faux Leather Sales Market Share by PlCONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: help@grandresearchstore.comFollow Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
