Asia Pacific Synthetic Leather Market Size and Competitive Analysis by 2028
Asia Pacific 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)
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028- Report Date : Mar 2022
- Report Code : TIPRE00027759
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 111
The synthetic leather market in APAC is expected to grow from US$ 12699.78 million in 2021 to US$ 20072.20 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.
The footwear industry is one of the significant segments of the synthetic leather industry. The high demand for trendy shoes is providing opportunities for the footwear industry to develop and grow. In the footwear industry, synthetic leather is frequently used in shoes. Synthetic leather material is suitable for shoes due to its low cost and abrasion resistance. Also, synthetic leather shoes offer great waterproof qualities. Synthetic leather can be mixed with a few chemicals to add waterproof features. There is a high demand for synthetic leather in the footwear industry. Moreover, many footwear brands are focusing on developing plant-based leather shoes and vegan leather shoes. This is further contributing to the high demand for synthetic leather. Thus, growing demand from the footwear industry will offer more opportunities for the growth of the synthetic leather market.The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia Pacific. The Asian economies have been hit hard due to the pandemic. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing a country-wide lockdown, which directly impacts the growth of industrial sectors. This may impact the demand for synthetic leather. Various industries such as automotive, footwear, and furniture have been hit hard by the pandemic, impacting the consumption of synthetic leathers in the region. The growth of the synthetic leather market has been severely affected by dwindling sales of vehicles amid the COVID-19 pandemic. Quarantine measures and the closure of retail stores have suppressed consumer demand. However, the market is expected to witness an increase in investment by players to tap the prevailing opportunities and cater to expanding demand for synthetic leather in post-pandemic times. The business activities are expected to improve further in the coming months.With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the synthetic leather market. The APAC synthetic leather market is expected to grow at a good CAGR during the forecast period.
APAC Synthetic Leather Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Synthetic Leather Market Segmentation
APAC Synthetic Leather Market – By Type
- Polyurethane
- Polyvinyl Chloride
- Silicone
- Others
APAC Synthetic Leather Market – By Application
- Footwear
- Furniture
- Automotive
- Clothing
- Stationery Goods
- Others
APAC Synthetic Leather Market- By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Synthetic Leather Market-Companies Mentioned
- BASF SE
- FILWEL Co., Ltd.
- 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
- Teijin Limited
Asia Pacific Synthetic Leather Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 12699.78 Million |
| Market Size by 2028 | US$ 20072.20 Million |
| CAGR (2021 - 2028) | 6.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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