Synopsis of Artificial Leather Market:
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.
Owing to extensive manufacturing process of PU based Artificial Leather can hinder the market growth of artificial leather in coming years. Major manufacturing companies are also shifting their production towards microfiber PU based leather due to high quality and has better properties than pure leather.
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The major end user industry of artificial leather is footwear industry. The demand for artificial leather in footwear industry is growing at rapid pace. Rise in per captia income, changing lifestyle and growth expansion of middle class people in emerging economies has boosted the demand for artificial footwear in various regions. According to changing climatic conditions, need of particular clothing, footwear changes. Thus, this has also anticipated to drive the product demand of in footwear and clothing industry. Technological advancement in automotive and furniture has shifted the need for artificial leather owing to its superior properties. Growing concern of lightweight leather in automotive sector is anticipated drive the artificial leather over the forecasted horizon.
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.
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.
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Study Objectives of Artificial Leather Market:
- To provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the Global Artificial Leather Market.
- To understand the supply and demand dynamics including supply and consumption concentration mapping.
- To provide region level market analysis and future outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries.
- To provide competitor positioning of the market.
- To provide company profiling of major players in the market along with their production and capacity
- To provide regional trade analysis.
- To evaluate historical market trends, patents and technologies, and current government regulatory requirements that are relevant to the market.
- Artificial Leather manufacturers
- Traders and distributors of Artificial Leather
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Key Points from Table of Contents:
10. Company Profiles
10.1 Filwel Co. Ltd (Japan)
10.1.4 Business Strategies
10.1.5 Recent Development
10.2 H.R.Polycoats Pvt. Ltd (India)
10.2.4 Business Strategies
10.2.5 Recent Development
10.3 Alfatex ITALIA (Italy)
10.3.4 Business Strategies
10.3.5 Recent Development
10.4 Mayur Uniquoters Ltd. (India)
10.4.4 Business Strategies
10.4.5 Recent Development
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