Market Highlights
Global Synthetic Leather Market was valued at USD 29,110.28 Million in 2019 and is projected to grow at a CAGR of around 6.74% during the forecast period.
Segmental Analysis
According to MRFR analysis, the Global Synthetic Leather Market has been segmented based on Technology, Material Type, Application, and Region.
Based on Type, the Global Synthetic Leather Market has been divided into PU-based, PVC-based, and bio-based. The PU-based type segment held a larger market share in 2019. By application, the global synthetic leather market has been classified into furnishing, automotive, footwear, accessories, clothing, electronics, and others.
By Application, the Global Synthetic Leather Market Demand has been classified into furnishing, automotive, footwear, accessories, clothing, electronics, and others. The footwear segment accounted for the largest market share of over 35.0% in 2019 due to their growing consumption across the region, especially across Asia-Pacific, and is expected to register a significant CAGR during the review period.
Regional Analysis
Geographically, the Synthetic Leather Market has been divided into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. As per the analysis of MRFR, Asia-Pacific was the dominant regional market, accounting for a leading market share of over 45.0% in 2019. Moreover, North America held the second-largest market share of the global market in 2019 due to the strong consumption of synthetic leather, specifically in footwear and automotive applications.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/synthetic-leather-market-4403
Key Players
Market Research Future (MRFR) identifies the following companies as the Key Players in the global synthetic leather market: H.R. Polycoats Pvt. Ltd, Kuraray Co. Ltd, Filwel Co. Ltd, San Fang Chemical Industry Co. Ltd, Yantai Wanhua Synthetic Leather Group Co. Ltd, Nan Ya Plastics Corporation, Mayur Uniquoters Limited, Alfatex Italia SRL, Zhejiang Hexin Industry Group Co. Ltd, DuPont Tate & Lyle Bio Products Company, LLC, Teijin Limited, Gruppo Mastrotto SPA, Toray Group, and Asahi Kasei Corporation.
Key Findings of the Study
- Global Synthetic Leather Market reached USD 29,110.28 Million in 2019 and is projected to register a CAGR of 6.74% to reach USD 38,251.72 Million by the end of 2025.
- Based on type, the PU-based segment is expected to grow at the fastest CAGR of 6.24% during the review period.
- Based on application, the footwear segment dominated the market with a share of 38.7% and was valued at USD 16,435.32 million in 2019.
- Asia-Pacific is likely to register a CAGR of over 7.41% during the review period.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
