Synthetic Leather Market Projected to Reach 208.81 Billion USD by 2026

The report "Synthetic Leather Market by Type (Polyurethane, Polyvinyl Chloride, Bio-based), End-Use Industry (Footwear, Furnishing, Automotive, Clothing, Bags, Purses & Wallets) - Global Forecast to 2026",The global synthetic leather market was valued at USD 51.81 Billion in 2015, and is projected to reach USD 208.81 Billion by 2026, at a CAGR of 13.4% from 2016 to 2026.

Browse 109 market data tables and 63 figures spread through 150 pages and in-depth TOC on “Synthetic Leather Market - Global Forecast to 2026”
http://www.marketsandmarkets.com/Market-Reports/synthetic-leather-market-6616309.html
Early buyers will receive 10% customization on this report.

The growing demand for synthetic leather in the footwear industry, and concerns regarding the killing of animals for the production of pure leather, is expected to drive the market in the future.

PU synthetic leather accounts for the largest share in the synthetic leather market

The global synthetic leather market is segmented based on type, into PU-based, PVC-based, and bio-based. In 2015, PU-based synthetic leather captured the maximum share of the overall market; it is also expected to witness the highest CAGR during the forecast period. PU leather is considered more environment friendly as compared to vinyl based leather, as it does not create dioxins. PU-based based leather is more expensive than PVC-based leather, due to the extensive manufacturing process that is required. Companies are also manufacturing microfiber PU leather, which is high quality leather, and has properties that are better than pure leather.

Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=6616309

Growing demand from the footwear industry to boost the synthetic leather market

The major end-use industries of synthetic leather are footwear, furnishing, automotive, clothing, bags, purses & wallets, and others. The demand for synthetic leather in the footwear industry is projected to register the highest CAGR during the forecast period. The growth in this industry is driven by the growing incomes, and economic growth. Another major driver for the growth in demand for synthetic leather in various countries is the variation in climatic conditions, which requires different kinds of footwear.

Asia-Pacific: The largest market in synthetic leather

The global synthetic leather market is segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The Asia-Pacific region is the largest synthetic leather market, closely followed by Europe, in terms of value. The growing end-use industries such as, automotive, footwear, and furnishing, coupled with regulations regarding animal welfare is driving the demand for synthetic leather in the Asia-Pacific region. The presence of many international fashion brands in Europe is driving the demand for synthetic leather in the region.

For more Info: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=6616309

Currently, market players such as, Kuraray Co. Ltd. (Japan), San Fang Chemical industry Co. Ltd (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Ltd. (India), Nan Ya Plastics Co. Ltd. (Taiwan), Filwel Co. Ltd. (Japan), Zhejiang Hexin Industry Group Co., Ltd. (China), Alfatex (Italy), H.R. Polycoats Pvt. Ltd. (India), and Yantai Wanhua Synthetic Leather Group Co. Ltd. (China) are leading the global synthetic leather market.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

MarketsandMarkets
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Visit MarketsandMarkets @ http://www.marketsandmarkets.com

This release was published on openPR.