Synthetic Leather Market Future Growth Strategies 2031

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Synthetic Leather Market Outlook 2031

• The global synthetic leather market was valued over US$ 84.1 Bn in 2020
• It is estimated to expand at a CAGR of 7.23% from 2021 to 2031
• The global synthetic leather market is expected to surpass the value of US$ 174.7 Bn by the end of 2031

Affordable and Glossy Synthetic Leather Grabbing Attention of Buyers

Reopening of Country Borders Fueling Trade During COVID-19 Crisis

High Level of Care & Maintenance for Synthetic Leather Affects Product Sales

Synthetic Leather Holds Promising Potentials to Reduce Environmental Footprint

Synthetic Leather Manufacturers Unlock Incremental Opportunities in Automotive Sector

Synthetic Leather Market: Overview

• Synthetic material holds the appearance of leather, but is not made from animal skin. It consists of natural or synthetic fibers coated with plastic polymer. Synthetic leather is usually made from polyurethane (PU) and polyvinylchloride (PVC). Synthetic leather is also known as faux leather, artificial leather, rexine, vinyl or leatherette in market, which is manmade fabric using polyurethane and polyvinylchloride. Synthetic leather is a cheaper, a more versatile and ethically friendly alternatives to real leather which is made by tanned and animal hides.
• Polyvinylchloride leather is commonly known as PVC leather. It is a unique kind of suede leather created by replacing the hydrogen group in vinyl group with a chloride group. It is less expensive and a good alternative. Vinyl is a flexible plastic resin. It is usually altered with variety of fillers to alter texture, color, form, and effects to fit various leather goods. PVC is a synthetic polymer and needs toxic chemicals during the manufacturing process.
• Products made from polyvinylchloride range from pipes, flooring, and window frames to rain gutters, garden furniture, and automotive parts. When softened with plasticizer, polyvinylchloride can be used to make medical devices, cling films, credit cards, plastic bags, and synthetic leather.
• Polyurethane leather or PU leather is an artificial leather that is made of thermoplastic polymer. It is used for making furniture, shoes, etc. 100% polyurethane leather is completely artificial and considered “Vegan”. It is completely manmade and gives the look and feel of genuine leather. It is glossier and less thick than genuine leather. It is easy to clean and wash. It is waterproof. Chemical and petroleum are used in the manufacturing process of polyurethane leather. The whole process is broken down into four simple steps, starting with the base fabric, application of polyurethane coating, coloring it by adding an extra layer of color, and final texture for finish.
• Synthetic leather is widely replacing genuine leather in the footwear industry due to its better durability. It can be used in shoe uppers, shoe lining and insoles, and sandals. Synthetic leather is also widely used in the furnishings industry. For instance, it is used in sofas and couches, chairs, and headboard upholstery. Application of synthetic leather in interior includes the wall tiles, ceiling, flooring, table surface and bed covering etc.