North America Synthetic Leather Market Growth and Recent Trends by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028North 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)
- Report Date : Mar 2022
- Report Code : TIPRE00027756
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 97
The synthetic leather market in North America is expected to grow from US$ 5096.85 million in 2021 to US$ 7937.78 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028.
Synthetic leather is extremely popular these days. It is used in various industries, including footwear, clothing, furniture, and automotive. The most common use of synthetic leather is in clothing, luggage, and cases. There is increasing use of synthetic leather in jackets, coats, handbags, purses, belts, etc. Moreover, there is a high demand for synthetic leather in the footwear industry. In the footwear industry, synthetic leather is frequently used in shoes. Synthetic leather is suitable for shoes due to its low cost, abrasion resistance, and water resistance. Synthetic leather has become more popular for furniture items. Synthetic leather is used for upholstery purposes, such as covering chairs, lining the tops of writing desks and tables. It is commonly used in sofas, chairs, headboards, etc. As synthetic leather is available in various colors, styles, textures, and patterns, it is increasingly used in decorating residential or commercial interiors. This is further fueling the growth of the synthetic leather market. Synthetic leather is used in the automotive industry, especially in making automotive interiors. Synthetic leather is used for car seating as it helps in cost reduction. The demand for automotive interior materials is increasing with the growing automotive industry. Hence, the increase in demand for synthetic leather from various end-use industries such as footwear, furnishing, clothing, and automotive is driving the synthetic leather market.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.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 North America synthetic leather market is expected to grow at a good CAGR during the forecast period.
North America Synthetic Leather Market Revenue and Forecast to 2028 (US$ Million)
North America Synthetic Leather Market Segmentation
North America Synthetic Leather Market – By Type
- Polyurethane
- Polyvinyl Chloride
- Silicone
- Others
North America Synthetic Leather Market – By Application
- Footwear
- Furniture
- Automotive
- Clothing
- Stationery Goods
- Others
North America Synthetic Leather Market- By Country
- US
- Canada
- Mexico
North America Synthetic Leather Market-Companies Mentioned
- 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
- Teijin Limited
North America Synthetic Leather Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5096.85 Million |
| Market Size by 2028 | US$ 7937.78 Million |
| Global CAGR (2021 - 2028) | 6.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- 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
- Teijin Limited
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