Global Synthetic Leather Market – Revenue, Growth Rate, Application, Sales and Demand Forecast to 2023

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Owing to the lower costs associated with synthetic leather and rising applications in clothing, footwear, furnishing and automotive industries, the global synthetic leather market is estimated to grow at a significant level during the forecast period (2017-2023).

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The increasing demand-supply gap and high cost of genuine leather has led to the widespread adoption of synthetic leather. Synthetic leather, also known as faux leather, is a man-made polymeric material produced from PVC or PU. It is treated and dyed for making shoes, clothing, head gear and others.

The global market for synthetic leather has been segmented in terms of type, end-use industry, and region. By type, synthetic market has been categorized into PU-based, PVC- based and bio-based. Polyurethane (PU) leather is waterproof, dry-cleanable, soft, supple and lighter than the actual leather.

On the basis of end-use industry, the global synthetic leather market is classified as footwear, furnishing, automotive, clothing, bags, purses and wallets. The market is led by the footwear industry due to the growing disposable incomes and rapid change in the human lifestyle.

The major restraint to the growth of global synthetic leather market is the stringent regulations set by the government against the usage of toxic chemicals including PU and PVC that poses health and environmental concerns

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The major companies in this market are KURARAY Co. Ltd., SAN FANG CHEMICAL INDUSTRY CO., LTD., Teijin Limited., Mayur Uniquoters Limited, NAN YA Plastics Industrial Co. Ltd., FILWEL CO., LTD, Zhejiang Hexin Industry Group, Alfatex.

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