Synthetic Leather Market Share, Size, Trends, Industry Analysis Report, By Type (Bio-based, Polyurethane, Polyvinyl Chloride, Others); By End-Use; By Region; Segment Forecast, 2021 - 2028
Description
The global synthetic leather market size is expected to reach USD 127.46 billion by 2034 according to a new study by Polaris Market Research. The report “Synthetic Leather Market Share, Size, Trends, Industry Analysis Report, By Type (Bio-based, Polyurethane, Polyvinyl Chloride, Others); By End Use; By Region; Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The adoption of synthetic leather is expected to increase during the forecast period owing to wide applications in industries such as automotive, apparel, and furnishing. Rising disposable income of consumers and improving lifestyles have increased the demand for footwear, clothing, and accessories.
Increasing urbanization and growing demand from the automotive sector have further supported the market growth. However, the the growth of the market is further driven due to operational challenges, disruption of the supply chain, reduced demand, and workforce impairment.
The different types of the product include bio-based, polyurethane, polyvinyl chloride, and others. The demand for the polyurethane segment is expected to be high during the forecast period. Polyurethane material offers the same texture as real leather while being lighter, cheaper, and durable. The rising ethical concerns regarding animal cruelty, growing environmental awareness, and the introduction of stringent regulations support the growth of this segment.
The product is used in diverse industries such as apparel, furnishing, automotive, footwear, electronics, and others. The automotive segment is expected to grow at a significant rate during the forecast period. The use of synthetic material in automobiles offers durability, strength, comfort, and elasticity. It is easy to maintain in vehicles as it is resistant to hot and cold temperatures, water, alcohol, and stains. The use of synthetic leather in seats, armrests, headrests, door trimmings, steering wheel covers, and roof lining has increased with rising demand for luxury vehicles.
Increasing applications in footwear and furnishing industries have resulted in greater demand for the product in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Some major market participants include Filwel Co. Ltd., H.R. Polycoats Pvt. Ltd., Teijin Limited, Kuraray Co. Ltd., Yantai Wanhua Synthetic Leather Group Co. Ltd., Kolon Industries, Inc., San Fang Chemical Industry Co. Ltd., Toray Industries, Inc., Alfatex N.V., NAN YA plastics corporation, Mayur Uniquoters Limited, Mitsubishi Chemicals Corp., Hanwa Chemical Corp., DuPont Tate & Lyle Bio Products Company, LLC, and Zhejiang Hexin Industry Group Co., Ltd.
Polaris Market Research has segmented the synthetic leather market report on the basis of type, end use, and region:
Synthetic Leather, Type Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
Bio-based
Polyurethane
Polyvinyl Chloride
Others
Synthetic Leather, End-Use Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
Apparel
Furnishing
Automotive
Footwear
Electronics
Others
Synthetic Leather, Regional Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Netherlands
Austria
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
South Africa
Israel
UAE
The adoption of synthetic leather is expected to increase during the forecast period owing to wide applications in industries such as automotive, apparel, and furnishing. Rising disposable income of consumers and improving lifestyles have increased the demand for footwear, clothing, and accessories.
Increasing urbanization and growing demand from the automotive sector have further supported the market growth. However, the the growth of the market is further driven due to operational challenges, disruption of the supply chain, reduced demand, and workforce impairment.
The different types of the product include bio-based, polyurethane, polyvinyl chloride, and others. The demand for the polyurethane segment is expected to be high during the forecast period. Polyurethane material offers the same texture as real leather while being lighter, cheaper, and durable. The rising ethical concerns regarding animal cruelty, growing environmental awareness, and the introduction of stringent regulations support the growth of this segment.
The product is used in diverse industries such as apparel, furnishing, automotive, footwear, electronics, and others. The automotive segment is expected to grow at a significant rate during the forecast period. The use of synthetic material in automobiles offers durability, strength, comfort, and elasticity. It is easy to maintain in vehicles as it is resistant to hot and cold temperatures, water, alcohol, and stains. The use of synthetic leather in seats, armrests, headrests, door trimmings, steering wheel covers, and roof lining has increased with rising demand for luxury vehicles.
Increasing applications in footwear and furnishing industries have resulted in greater demand for the product in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Some major market participants include Filwel Co. Ltd., H.R. Polycoats Pvt. Ltd., Teijin Limited, Kuraray Co. Ltd., Yantai Wanhua Synthetic Leather Group Co. Ltd., Kolon Industries, Inc., San Fang Chemical Industry Co. Ltd., Toray Industries, Inc., Alfatex N.V., NAN YA plastics corporation, Mayur Uniquoters Limited, Mitsubishi Chemicals Corp., Hanwa Chemical Corp., DuPont Tate & Lyle Bio Products Company, LLC, and Zhejiang Hexin Industry Group Co., Ltd.
Polaris Market Research has segmented the synthetic leather market report on the basis of type, end use, and region:
Synthetic Leather, Type Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
Bio-based
Polyurethane
Polyvinyl Chloride
Others
Synthetic Leather, End-Use Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
Apparel
Furnishing
Automotive
Footwear
Electronics
Others
Synthetic Leather, Regional Outlook (Volume, Million Meters; Revenue, USD Billion, 2020-2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Netherlands
Austria
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
South Africa
Israel
UAE
Table of Contents
118 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. South Korea Microgrid Market Insights
- 4.1. South Korea Microgrid Market – Market Snapshot
- 4.2. South Korea Microgrid Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Industrial and Commercial Sector Demand
- 4.2.1.2. Smart City and Digital Infrastructure Initiatives
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Initial Investment
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. South Korea Microgrid Market Trends
- 4.6. Value Chain Analysis
- 5. South Korea Microgrid Market, by Power Source
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. South Korea Microgrid Market, by Power Source, 2020-2034 (USD billion)
- 5.3. Natural Gas
- 5.3.1. South Korea Microgrid Market, by Natural Gas, 2020-2034 (USD billion)
- 5.4. CHP
- 5.4.1. South Korea Microgrid Market, by CHP, 2020-2034 (USD billion)
- 5.5. Solar PV
- 5.5.1. South Korea Microgrid Market, by Solar PV, 2020-2034 (USD billion)
- 5.6. Diesel
- 5.6.1. South Korea Microgrid Market, by Diesel, 2020-2034 (USD billion)
- 5.7. Fuel Cell
- 5.7.1. South Korea Microgrid Market, by Fuel Cell, 2020-2034 (USD billion)
- 5.8. Others
- 5.8.1. South Korea Microgrid Market, by Others, 2020-2034 (USD billion)
- 6. South Korea Microgrid Market, by Product
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. South Korea Microgrid Market, by Product, 2020-2034 (USD billion)
- 6.3. Remote
- 6.3.1. South Korea Microgrid Market, by Remote 2020-2034 (USD billion)
- 6.4. Grid Connected
- 6.4.1. South Korea Microgrid Market, by Grid Connected, 2020-2034 (USD billion)
- 6.5. Hybrid
- 6.5.1. South Korea Microgrid Market, by Hybrid, 2020-2034 (USD billion)
- 7. South Korea Microgrid Market, by Application
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. South Korea Microgrid Market, by Application, 2020-2034 (USD billion)
- 7.3. Government
- 7.3.1. South Korea Microgrid Market, by Government, 2020-2034 (USD billion)
- 7.4. Education
- 7.4.1. South Korea Microgrid Market, by Education, 2020-2034 (USD billion)
- 7.5. Commercial
- 7.5.1. South Korea Microgrid Market, by Commercial, 2020-2034 (USD billion)
- 7.6. Utility
- 7.6.1. South Korea Microgrid Market, by Utility, 2020-2034 (USD billion)
- 7.7. Defense
- 7.7.1. South Korea Microgrid Market, by Defense, 2020-2034 (USD billion)
- 7.8. Others
- 7.8.1. South Korea Microgrid Market, by Others, 2020-2034 (USD billion)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. ABB
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Eaton Corp.
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. General Electric
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Honeywell International
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Hyundai Energy Solution
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. MTU (Rolls-Royce plc)
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Schneider Electric
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Siemens AG
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. TurnOnGreen Inc.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. EIPGRID Inc.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
Pricing
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