Artificial leather Industry Size: Competitor Landscape, Key vendors, Regional Trends and Forecast 2023

Posted June 18, 2021 by chitradeo00777

Artificial leather is segmented into polyurethane, polyvinyl chloride, bio based. Polyurethane leather is faster growing segment over the forecasted period 2016-2022.
Market Overview:

Artificial leather also known as synthetic leather is marketed under different names such as faux leather, PU leather, pleather, leatherette and vegan leather. The growing demand of artificial leather is due to its appearance and flexibility in using lightweight product. Rising environmental concern along with discontinuation of animal species which are killed to obtain leather has led to shift the production to artificial leather. Hence, the global artificial leather market is expected to grow at 38.2 billion with CAGR of 7.9% from 2016 to 2022.

Based on types, artificial leather is segmented into polyurethane, polyvinyl chloride, bio based. Polyurethane leather is faster growing segment over the forecasted period 2016-2022. Polyurethane based artificial leather and PVC based artificial leather both come under pleather. PU based artificial leather is made up of coating cotton or soft polymer which makes it ideal for garment manufacturing. However, it does not require additional plasticizers and offers waterproof technique which makes it look exactly like real leather. PVC is second faster growing segment. These leather is made up of adding plasticizers and dyed to PVC so that fabric are made softer. Bio based artificial leather is growing market owing to strict regulations of government of using eco-friendly products.

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Competitive Analysis:
Key players of the global high artificial leather market are Filwel Co. Ltd (Japan), H.R.Polycoats Pvt. Ltd (India), Alfatex ITALIA (Italy), Mayur Uniquoters Ltd. (India), San Fang Chemical industry Co. Ltd (Taiwan), Kuraray Co. Ltd. (Japan), Teijin Limited (Japan), Asahi Kasei Corporation (Japan), Huafon Group (Japan), Toray Industries (Japan) and others.
Intended Audience:

Artificial Leather manufacturers

Traders and distributors of Artificial Leather

Production Process industries

Potential investors

Raw material suppliers

Nationalized laboratory

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Geographically, Asia-Pacific region represents highest market share in the global artificial leather followed by Europe and North America. China being a largest producer and consumer of artificial leather followed by Europe in terms of value. Rapid industrializations, favorable government regulations and increase in consumer spending will significantly grow the artificial leather market in emerging economies such as China, India and Japan. Europe and North America being prominent players in automobile, footwear and clothing industry is driving the demand for artificial leather in these regions. Changing climatic conditions requires good quality product which can protect in different environment. Thus, need for artificial leather is growing in these regions.
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Last Updated June 18, 2021