North America Synthetic Leather Market is expected to reach US$ 7,937.78 million by 2028


PRESS RELEASE BY The Insight Partners 07 Mar 2022

Share this press on


Polyurethane Segment to Dominate North America Synthetic Leather Market during 2021–2028

According to The Insight Partners market research study on “North America Synthetic Leather Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 7937.78 million by 2028 from US$ 5096.85 million in 2021. The market is estimated to grow at a CAGR of 6.5% from 2021 to 2028. The report provides trends prevailing in the North America synthetic leather market along with the drivers and restraints pertaining to the market growth. Surge in demand for various end use industries is the major factor driving the growth of the North America synthetic leather market. However, issues associated with the harmful effects of PVC and PU and durability issues of synthetic leather hinder the growth of North America synthetic leather market.  

The North America synthetic leather market is segmented into type, application and country. Based on type, the North America 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 North America 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, North America synthetic leather market is classified into US, Canada, and Mexico.

North America is one of the worst affected economies due to the COVID-19 pandemic. The significant disruption in manufacturing, along with raw material sourcing, has had a negative impact on the demand for synthetic leather in the region. The pandemic has also disrupted various manufacturing activities. The industries such as footwear and clothing have been affected by the pandemic. The pandemic has also affected the demand for synthetic leather from furniture-related applications. Moreover, the pandemic has had a massive impact on the automotive industry in the region. However, the market is reviving because of the government's significant measures, such as vaccination drives. Many players are resuming pre-COVID investment plans as businesses gain confidence in stabilizing economies and anticipate increased demand. This is expected to provide the impetus for market growth.

BASF SE; Fujian Polytech Technology Corp.,Ltd.; H.R.Polycoats Pvt. Ltd.; KURARAY CO., LTD.; Mayur Uniquoters Limited; Nan Ya Plastics; San Fang Chemical Industry Co., Ltd; and Teijin Limited are among the leading companies in the North America 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.

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


North America Synthetic Leather Market to Grow at a CAGR of 6.5% to reach US$ 7,937.78 million from 2021 to 2028

Download Free Sample

North America 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) 


 

Contact Us

Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

Download Free PDF Brochure