Middle East and Africa Synthetic Leather Market is expected to reach US$ 3,662.07 million by 2028


PRESS RELEASE BY The Insight Partners 07 Mar 2022

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Footwear Segment to Dominate MEA Synthetic Leather Market during 2021–2028

According to The Insight Partners market research study on “MEA Synthetic Leather Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 3662.07million by 2028 from US$ 2462.44 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the MEA synthetic leather market along with the drivers and restraints pertaining to the market growth. Increasing focus on development of bio-based leather is the major factor driving the growth of the MEA synthetic leather market. However, issues associated with the harmful effects of PVC and PU and durability issues of synthetic leather hinder the growth of MEA synthetic leather market.  

The MEA synthetic leather market is segmented into type, application and country. Based on type, the MEA synthetic leather market is segmented into polyurethane, polyvinyl chloride, silicone and others. The polyurethane segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on application, the MEA synthetic leather market is segmented into footwear, furniture, automotive, clothing, stationery goods and others. The footwear segment dominated the market in 2020 and furniture segment is expected to be the fastest growing during the forecast period. Based on country, MEA synthetic leather market is classified into South Africa, Saudi Arabia, UAE, and Rest of MEA.

In the Middle East & Africa region, South Africa is among the major countries with many COVID-19 confirmed cases and deaths. The COVID-19 pandemic has had a severe impact on the Middle East & Africa economy. The Middle East & Africa region comprises many growing economies, which are prospective markets for synthetic leather vendors. The pandemic has significantly slowed down the growth of the synthetic leather market in the region due to negative impacts upon the growth of industries such as footwear and many others.

BASF SE; H.R.Polycoats Pvt. Ltd.; KURARAY CO., LTD.; Mayur Uniquoters Limited; San Fang Chemical Industry Co., Ltd; and Teijin Limited are among the leading companies in the MEA synthetic leather market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Teijin cordley limited announced that it had developed antibacterial and antiviral synthetic leather that is good for functional materials used in sports and outdoor wore.

MEA Synthetic Leather Market, By Country, 2020 and 2028 (%)
MEA Synthetic Leather Market, By Country, 2020 and 2028 (%)


Middle East and Africa Synthetic Leather Market to Grow at a CAGR of 5.8% to reach US$ 3,662.07 million from 2021 to 2028

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Middle East and Africa Synthetic Leather Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Polyurethane, Polyvinyl Chloride, Silicone, and Others) and Application (Footwear, Furniture, Automotive, Clothing, Stationery Goods, and Others) 


 

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