Synthetic Leather Companies – Kuraray Co., Ltd. (Japan), San Fang Chemical Industry Co., Ltd. (Taiwan) are Leading Players
In terms of value, the synthetic leather market is estimated to grow from USD 68.7 billion in 2023 to USD 88.0 billion by 2028, at a CAGR of 5.1%. Rising demand for sustainable leather materials from industries such as footwear, furnishing, automotive, clothing, bags, purses & wallets, and others for a variety of applications is leading the market. During the forecast period, this is anticipated...
Market Leader – Synthetic Leather Market / Artificial Leather Market
The synthetic leather market size is estimated to be USD 63.3 billion in 2020 and is expected to reach USD 78.5 billion by 2025, at a CAGR of 4.4% during the forecast period. Factors such as growing demand from footwear industry, no animal killing involved, advantages over pure leather, and increasing demand for luxury cars and electric vehicles will drive the synthetic leather market. The major restraint...
Synthetic Leather (Artificial Leather) Market Industry Leaders & New Revenue Pockets
The global synthetic leather market was valued at USD 22.13 billion in 2015 and is projected to reach USD 33.54 billion by 2021, at a CAGR of 7.20% from 2016 to 2021. The major players adopted new product developments as a key strategy to increase their market shares and revenues, by providing customized and upgraded products to customers.
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