Synthetic leather market is growing

The global synthetic leather market is projected to see exponential growth in the next ten years, with forecasters expecting the market to jump from a value of $51.81 billion in 2015 to $208.81 billion by 2026. A recent study on the industry has revealed several upcoming trends in the synthetic leather market, including a huge surge in PU-based synthetic leather growth and an increased presence in the Asia-Pacific market.

The forecast found that PU-based synthetic leather will experience the highest growth in the next ten years. Because PU-based synthetic leathers use less plasticizers and a softer polymer than other synthetic leathers, PU-based products are less likely to fade and crack when exposed to sunlight. Thus, these PU-based leathers tend to be higher-quality than competing products, stimulating demand in both the automotive and clothing industry, despite the higher price tag.

The forecast, which includes profiles on San Fang Chemical Industry Co, Alfatex, Leijin Limited, Kuraray Co. Ltd, and Mayur Uniquoters, also said that Asia-Pacific was the largest and fastest-growing market in the synthetic leather industry, due to the presence of the automotive and construction industries. The South American market is expected to also grow as its automotive, footwear, and furnishing industries continue to develop.

North America is currently experiencing a growth rate for synthetic leather, but mainly because of the work of PETA and similar animal rights organizations that condemn the practice killing animals for leather products.

Synthetic leather market is growing

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