The global synthetic leather market to grow at a CAGR of 7.13% during the period 2017-2021.
Global Synthetic Leather Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is focus on development of bio-based synthetic leather. The need for sustainability is impelling the various stakeholders, such as customers, manufacturers, and the governments, to implement the production and adoption of bio-based products. Almost 9-11% of all the chemical-based products have their raw materials sourced from renewable sources, thus, making them more environment-friendly.
According to the report, one driver in the market is regulations against animal killing. Animal lovers across the globe are turning toward vegan leather. The major reason being to reduce animal killing for their hides for manufacturing of leather. India is one of the major producers and exporters of leather in the world and accounts for around 13% of the world's leather production. It ranks second for the manufacturing of leather footwear and garments in the world. Recently, there has been a ban on cattle slaughter in India.
Further, the report states that one challenge in the market is harmful environmental effects of PVC processing. PU and PVC are the most common materials that are used to make synthetic leather. Among these two materials, PVC is preferred more as it is much cheaper than PU. However, in recent times, the use of PVC is being reduced as it releases dioxins, which are hazardous chemicals. Another factor is the use of plasticizers known as phthalates. PVC, in the original form, is a very rigid substance and plasticizers must be added to make it more flexible and malleable.
NAN YA PLASTICS
Other prominent vendors
SAN FANG CHEMICAL INDUSTRY
Suzhou Star New Material
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SEGMENTATION BY TYPE
Global synthetic leather market by type
Global PU-based synthetic leather market
Global PVC-based synthetic leather market
Global bio-based synthetic leather market
PART 07: MARKET SEGMENTATION BY APPLICATION
Global synthetic leather market by application
Global synthetic leather market for footwear industry
Global synthetic leather market for furnishing industry
Global synthetic leather market for automotive industry
Global synthetic leather market for bags industry
Global synthetic leather market for other industries
PART 08: REGIONAL LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
Focus on development of bio-based synthetic leather