Call 888-776-0942 from 8 a.m. to 10 p.m. Eastern Time

London, November 12, 2021 /PRNewswire/ - According to data from Brandessence Market Research, the synthetic leather market is expected to reach 83.44 billion U.S. dollars in 2027, and the synthetic leather market value in 2020 is 60.91 billion U.S. dollars. During the period 2021-2027, the synthetic leather market is expected to grow at a CAGR of 4.6%.

Synthetic Leather Market: Competitive Analysis

The synthetic leather market is a fragmented, competitive and innovative pattern. The traditional appeal of leather associated with pride, status and royalty continues to grow in new markets, where traditional values ​​continue to determine buying behavior. In addition, the growth of new high-value applications, such as cost-effective synthetic labor, and attractive interior decoration for automotive, furniture, and industrial applications, remains the main driving force for the growth of the synthetic leather market. Synthetic leather manufacturers continue to make strategic investments in acquisitions, product portfolio expansion and cooperation to expand their influence in new regions. Due to its relatively more sustainable nature, leather is becoming increasingly attractive in mature regions such as North America and the United States, which is still a promising growth prospect for participants in the synthetic leather market. Some of the major players in the synthetic leather market are Kuraray Co., Ltd., Mayor Uniquoters Limited, China National Petroleum Corporation, Toyobo Co., Ltd., Toray Chemical Korea Co., Ltd., Teijin Co., Ltd., Zhejiang Hexin Industrial Group Co., Ltd., Yantai Wan Hua Synthetic Leather Group Co. Ltd., NAN YA Plastic Company, Alfatex NV, HR Polycoats Pvt. Ltd., san Fang Chemical Industry Co. Ltd., Bombay Dyeing, EI du pont Nemours and Company, Indorma Corporation, etc.

Get a sample copy of this premium version [email protection] https://brandessenceresearch.com/requestSample/PostId/608

Synthetic Leather Market: Overview

What is synthetic leather? Synthetic leather, also known as vegetarian leather, artificial leather, artificial leather, PU leather and artificial leather, is a material designed to replace or provide a substitute for animal-derived leather. Due to cost constraints, inapplicability and limited supply of raw materials, natural leather is still limited in its commercial applications. On the other hand, synthetic leather derived from materials such as PVC provides cost-effective and scalable industrial applications for a wide range of commercial applications. Some synthetic leathers are made of various plastics such as PVC, while many are made of plant-based materials.

Synthetic leather has been around since the 1960s. Today, synthetic leather manufacturers promise to make great progress over traditional animal skin-derived leather products. This includes lower maintenance, higher costs and lower sustainability commitments. On the other hand, animal leather requires higher maintenance and has an expensive value proposition in applications such as furnishings, car seats and other indoor vehicle settings and clothing fabrics. The textile industry has also witnessed that consumers are increasingly reluctant to pay high prices for animal leather shoes. This is partly due to increased awareness, but mainly due to the lack of traditional attraction in developed regions such as North America and Europe.

Synthetic leather production analysis shows that new varieties of synthetic leather such as double cast leather, bonded leather and microfiber are opening up new growth opportunities. Synthetic leather varieties such as Bicast leather have a plastic finish embedded in the leather, making it ideal for automotive applications. Although genuine leather provides great appeal for car interiors, the plastic coating protects the seat cushion from accidents such as beverage spills. In addition, the plastic coating also makes it easy to clean and long-term maintenance. This is also an ideal choice for home decoration. The emergence of synthetic leather products such as Bicast leather is the key reason why the prices of car interiors or home furnishings are much lower than before, because leather is dominant in interior decoration.

Global synthetic leather market segmentation:

Get Methodology@ https://brandessenceresearch.com/requestMethodology/PostId/608

Synthetic leather market: main trends

Color loss is still a major challenge for synthetic leather products. However, new technologies using magnetic colors have eliminated this traditional obstacle. Leather is famous for its anti-magnetic material properties. In addition, traditional leather manufacturers use natural or synthetic dyes, which results in fading debris or, more accurately, pigmentation during the decolorization process. The new technology uses a single chemical treatment to ensure the intelligent application of leather and increase the combination of magnetic materials and nanoparticles in manufacturing. These new technologies are expected to extend the application of synthetic leather to new niche commercial applications, including industrial textiles. Due to bleaching, technical textiles are still restricted in certain niche markets. However, due to the characteristics of EMI shielding, barcodes, electronic product shells and covers, wall floors and tiles, synthetic leather is expected to be widely used in this field compared to natural leather.

Synthetic leather is also expected to find new applications in the development of smart products, including as a substitute for equipment fixing materials. Synthetic leather can be a good electrical conductor. Through technology such as single chemical treatment, as well as product improvements such as leather feel, these products can be conveniently used in wearable device applications and widely used in the manufacture of operating gloves. Due to low production costs and the ability to expand production when necessary, synthetic leather is still an ideal choice for manufacturing.

Synthetic leather is increasingly used in medical devices, such as ankle-foot orthoses or AFOs. The current various medical textiles cannot provide much-needed comfort and comfort for most patients. The new synthetic leather guarantees the protection needed for the feet. In addition, with the emergence of new technologies such as 3D printing, these also provide important prospects for customization. These have been used in its customized varieties, which is expected to provide a stronger foundation for the ulcer site and may greatly improve the efficiency of the treatment process.

New patents in the synthetic leather industry also indicate an increase in innovation and the great success of transparent leather development. These new leathers are very suitable for replacing similar leathers while demonstrating the authority of synthetic leather and bringing new attractive promises. The lack of transparency in leather remains objectionable to potential buyers. In addition, the lack of transparency also makes leather more prone to sweat, posing a significant limit to its growth in personal textiles. New advancements adopted by synthetic leather manufacturers guarantee a light transmittance of 80-85%, advanced treatment of pre-treated pickled leather, combined with a combination of polyol oils. This is likely to open up opportunities for high-value synthetic leather, which is still the main challenge currently faced by synthetic leather manufacturers. With high-value transparent applications, synthetic leather is very suitable for high-demand niche needs such as synthetic leather for footwear. 

Get full access to the report: https://brandessenceresearch.com/chemistry-and-materials/synthetic-leather-market-size-and-share

About Brandessence Market Research and Consulting Pte Ltd.

Brandessence Market Research publishes market research reports and business insights produced by highly qualified and experienced industry analysts. Our research reports can be used in a wide range of vertical industries, including aviation, food and beverage, healthcare, information and communication technology, construction, and chemical industries. The brand essence market research report is most suitable for senior executives, business development managers, marketing managers, consultants, CEOs, chief information officers, chief operating officers and directors, governments, institutions, organizations and PhDs. students. We have a delivery center in Pune, India, and our sales office is in London.

Blog: Top 5 Automotive Semiconductor Companies in 2021

Mr. Vishal Sawant Email: [Email Protection] Email: [Email Protection] Corporate Sales: 44-2038074155 Asia Office: 917447409162

SOURCE Brandessence Market Research and Consulting Pte Ltd

More news releases on similar topics

Cision Distribution 888-776-0942 8 a.m. to 9 p.m. Eastern Time