Europe Synthetic Leather Market to Grow at a CAGR of 6.4% to reach US$ 9,123.76 million from 2021 to 2028

The synthetic leather market in Europe is expected to grow from US$ 5914.40 million in 2021 to US$ 9123.76 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.

Synthetic leather is extremely popular these days. Synthetic leather offers several advantages. It is modified and improved to reflect a visual appearance with realistic leather quality. It is a versatile material and is available in a variety of colors, finishes, and patterns. This offers an opportunity to choose color and design for loveseats, sofas, recliners, etc. Synthetic leather also provides a uniform look since all the pieces come from the same stock. Synthetic leather costs much less than genuine leather, and it is typically much more affordable than genuine leather. Moreover, synthetic leather is a waterproof material. It can resist water penetration since it is usually made up of a plastic base layer with a plastic coating. As a result, synthetic leather is the finest choice for applications with continuous exposure to moisture and humidity. Another benefit is that synthetic leather is cruelty-free since animals do not go through any brutality during synthetic leather production. Thus, all these advantages associated with the usage of synthetic leather are driving the market.In Europe, currently, France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The massive outbreak of the pandemic has created a temporary distortion in operation efficiencies of industrial bases in the European market. The market for synthetic leather has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. The industries such as footwear and automotive have been affected by the pandemic. However, the various industries are resuming their operations, including the automotive industry. The rising demand for synthetic leather across diverse industrial applications is expected to substantially fuel the growth of the synthetic leather market in the region.
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 Europe synthetic leather market is expected to grow at a good CAGR during the forecast period.

Europe Synthetic Leather Market Revenue and Forecast to 2028 (US$ Million)

                                     

 

Europe Synthetic Leather Market Segmentation

Europe Synthetic Leather Market – By Type

• Polyurethane
• Polyvinyl Chloride
• Silicone
• Others

Europe Synthetic Leather Market – By Application

• Footwear
• Furniture
• Automotive
• Clothing
• Stationery Goods
• Others

Europe Synthetic Leather Market- By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Europe Synthetic Leather Market-Companies Mentioned

• Alfatex Italia
• 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

Europe Synthetic Leather Market Report Scope

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