Global Synthetic Leather Market to Cross USD 208.8 Bn through 2026, Says M&M in Its New Research Report Recently Added at MarketPublishers.com
20 Dec 2016 • by Natalie Aster
LONDON – As of 2015, the world market for synthetic leather hit the value of USD 51.81 billion. Through 2026, this market is predicted to gain traction, registering a significant CAGR of 13.4%, and to reach USD 208.81 billion. While escalating demand from the key end-use markets (like furnishing, automotive industry and footwear) will act as the major driver of the synthetic leather market growth, adverse effects the PVC and PU processing has on the environment is the key restraint for further market growth.
PU-based synthetic leather is expected to enjoy the highest growth between 2016 and 2026, majorly due to advantages it offers. The major consumers of the PU-based synthetic leather are the automotive and clothing industry.
Globally, APAC is anticipated to be the largest and also the fastest growing regional market for synthetic leather owing to increase in the construction and automotive sectors in this region. The South American synthetic leather market is also slated to witness remarkable growth in the next 10 years, driven by expanding automotive, furnishing and footwear industries. North America is also an important market for synthetic leather; growth in this regional market is spurred by enhancing concerns regarding killing animals, which cause the reduction of demand for pure leather, thus increasing the demand for synthetic leather.
New study “Synthetic Leather Market by Type, End-Use Industry - Global Forecast to 2026” provided by M&M is a great source of reliable data on the current and projected situation in the world’s market for synthetic leather. The publication includes a thorough analysis of the key market segments on the basis of synthetic leather types, end-use industries and regions. The report also identifies lucrative segments, highlights new product launches, looks into untapped geographies, covers the recent developments and traces light on top investments opportunities emerging in the global synthetic leather market. Competitive landscape and top players in the global synthetic leather market are also analysed here. Furthermore, the report contains trustworthy forecasts up till 2026.
Many more research reports drawn up by M&M are available at its page.