May 31, 2022 11:11 ET | Source: Facts & Factors Facts & Factors

San Francisco, May 31, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Synthetic Leather Market - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028” in its research database.

How big is the Synthetic Leather (Artificial Leather) Industry?

“According to the latest research study, the demand of global Synthetic Leather Market size & share was valued at USD 63.17 billion in 2021 and it is expected to cross at approximately USD 80.55 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 4.01% during the forecast period 2022 to 2028.”

What is Synthetic Leather (Artificial Leather)?

Synthetic leather is a man-made fabric consisting primarily of polyvinyl chloride (PVC) or polyurethane (PU) (PU). It's a type of synthetic leather that looks like genuine leather. Synthetic leather is dyed and processed to resemble genuine leather in appearance. This sort of leather is referred to as vegan leather, imitation leather, leatherette, and leather.

Durability, color resistance, and weather resistance are all advantages of synthetic leather. It has no layers or joints; therefore, water cannot leak inside and cause harm to the material.

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 (A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Synthetic Leather Market: Dynamics

The growing demand for synthetic leather in end-use sectors including footwear, furniture, automotive, clothing, bags, purses & wallets, and others is driving the market. The synthetic leather market will be driven by factors such as rising demand from the footwear sector, the absence of animal slaughter, advantages over pure leather, and rising demand for luxury cars and electric vehicles. Synthetic leather is chemically treated to make it resistant to sunlight, scrapes, and fire; but owing to wear and strain, it becomes weak and subject to degeneration.

Synthetic leather is inexpensive; nonetheless, it requires a high level of care and maintenance, as well as protection from direct sunlight to extend its life. As a result, clients and end-users in commercial industries consider the advantages, which are greater than the disadvantages, in order to make purchasing decisions.

Browse the full “Synthetic Leather Market By Type (PU-Based, PVC Based, Bio-based), By End User Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets, Others), and By Region - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028” Report at https://www.fnfresearch.com/synthetic-leather-market

Synthetic Leather Market: COVID-19 Impact Analysis

The leather industry was adversely hit by COVID-19, which has created opportunities for synthetic leather. Synthetic leather has recently been in considerable demand for beds and furniture in makeshift hospitals and healthcare institutions around the world to aid patients with COVID-19 and other diseases. These mattresses and other items of furniture are usually covered in antibacterial or antifungal medical-grade synthetic leather. Car sales declined in the first half of the year, which had an indirect influence on demand for synthetic leather, which is mostly used in car interiors.

The entire research report examines the synthetic leather market from both a qualitative and quantitative standpoint. The supply and demand sides of the market have both been explored. The demand side analysis looks at market income in different regions before comparing it to the income of all major countries. The supply-side study looks at the industry's key competitors, their regional and worldwide presence, and their strategy. Every major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is explored exhaustively.

Synthetic Leather Market: Segmentation Analysis

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The report contains qualitative and quantitative research on the global synthetic leather market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

List of Key Players in the Global Synthetic Leather Market:

The global synthetic leather market is segmented as follows;

Key Insights from Primary Research:

Key questions answered in this report:

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In 2021, Asia Pacific dominated the market globally. From 2022 to 2028, the regional market will grow at the fastest rate. APAC's top revenue-generating economies are predicted to be China, India, and South Korea. Market players will have several expansion prospects as disposable income rises in tandem with population increase. In terms of product manufacturing and sales, China is one of the most important marketplaces.

The global epidemic, on the other hand, had a negative impact on the country's manufacturing production. To stop the spread of the disease, several manufacturers have shut down or slowed down their activities. Limited manufacturing output due to a halt or slowdown in operations, as well as supply and transportation constraints in the country, and infrastructure slowdown are anticipated to negatively affect the product demand from the end-use application in the near future.

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To Know an Additional Revised 2022 List of Market Players, Request a Sample Report: https://www.fnfresearch.com/sample/synthetic-leather-market

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