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Artificial Leather Market to Register Substantial Expansion by 2019 – 2029

Artificial Leather Market: Introduction

Artificial leather is a material that is used as a substitute for natural leather. Artificial leather is designed in such a way that it looks almost similar to natural leather. Artificial leather is generally manufactured by applying a polyurethane or polyvinyl chloride finish to a base material. These PU and PVC resin provides resistance to wear and durability. Artificial leather can withstand scratches and can be usually wiped clean with a rag or warm water. Typical example of base material includes nylon, cotton, and rayon, etc. Artificial leather offers a wide range of applications such as footwear, clothing, and others.

Artificial Leather Market: Dynamics

Changing lifestyle and increasing inclination of consumers towards trendy footwear is mainly driving the demand for artificial leather. The widespread consumption of artificial leather in footwear manufacturing leads to the increase in demand for artificial leather globally. Furthermore, usage of artificial leather in the manufacturing of jacket, upholstery fabrics, and other clothing also propel the demand for artificial leather in the textile industry as artificial leather provides smooth leather-like texture to clothes, which is appealing to consumers. Moreover, the increasing demand for artificial leather in applications such as furnishing, bags, and others is likely to create a positive impact on the artificial market. Growing preference for automotive is also boosting the demand for artificial leather as artificial leather is excessively used in the manufacturing of automotive seat covers and its related interior. Hefty consumption of polyvinyl chloride and polyurethane in the manufacturing of artificial leather is expected to show robust demand for artificial leather from the end-use industry. Polyurethane is waterproof and lighter than real leather due to which its demand is more as compared to animal hideskins based leather in the market.

Thus, increasing demand for artificial leather leading manufacturers to increase their production capacity by doing vertical and horizontal integration across the value chain to enhance their productivity and efficiency. Manufacturers are also focusing on product innovation to meet the customer's requirement. The gap in supply-demand from the natural leather industry is another major factor that has made manufacturers opt for artificial alternatives.

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However, stringent government regulations on the usage of toxic chemicals such as polyvinyl chloride (PVC) and polyurethane (PU) in artificial leather formation is harmful to human health. This would result in shift in preference of manufacturers toward bio-based products such as polyester polyol that has 70-75% renewable content. Also, fluctuations in the price of raw materials might hinder the growth of the artificial leather market.

The global artificial leather market is considered to be a fragmented market due to the presence of national and international players who have established their presence in multi-regional markets.

Artificial Leather Market: Segments

The artificial leather market can be segmented based on its type, end-use, and application.

The artificial leather market can be segmented based on its type PU-based PVC-based Bio-based

The artificial leather market can be segmented based on its application Footwear Clothing Bags & Wallet Automotive Furnishing Others

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Artificial Leather Market: Regional Overview

The Asia Pacific region is expected to hold a significant share of the artificial leather market, especially emerging countries such as China, India, Brazil, Malaysia, Thailand, and Vietnam due to the growing automotive and footwear industries. Furthermore, increasing disposable income, together with the rapidly growing population will result in several opportunities for the artificial leather market in countries such as China and India. Europe and North America are also expected to represent noteworthy growth due to the increasing demand for apparels and upholstery fabrics. Strict regulations concerning animal rights in several countries of these regions, coupled with the rising awareness are boosting the consumption of artificial leather. The Middle East & Africa region is also expected to show prominent growth in the artificial leather market due to cheap product prices as compared to natural leather and thus, continue to seek the attention of consumers, especially from middle-income level groups.

Artificial Leather Market: Key Market Participants

Some of the key market participants in the artificial leather market are as follows: Kuraray Co. Ltd. Mitsubishi Chemicals Corp. Nan Ya Plastic Corp. Tejinin Ltd. R. Polycoats Pvt. Ltd. Mitsubishi Chemicals Corp. Hanwa Chemical Corp. Alfatex Italia Yantai Wanhua Group Co. Ltd. Zhejiang Hexin Industry Group

The report covers comprehensive analysis on,- Artificial Leather Market Segments Artificial Leather Market Dynamics Artificial Leather Market Size Artificial Leather Supply & Demand Scenario Current Trends/Issues/Challenges in Artificial Leather market Competition & Companies involved in Artificial Leather market The technology used in Artificial Leather Market Value Chain of Artificial Leather Market

The regional analysis includes,- North America (U.S., Canada) Latin America (Mexico, Brazil, Argentina, Chile, Peru) Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordics) Eastern Europe (Russia, Poland, CIS) Asia-Pacific (China, India, ASEAN, South Korea) Japan The Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

The artificial leather market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with the artificial leather market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights- A detailed overview of the parent market Changing artificial leather market dynamics in the industry In-depth artificial leather market segmentation Historical, current, and projected market size in terms of volume and value Recent industry trends and developments The competitive landscape in the artificial leather market Strategies of key players and products offered in the artificial leather market Potential and niche segments, geographical regions exhibiting promising growth A neutral perspective on tire softener market performance Must-have information for market players to sustain and enhance their market footprint

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