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)
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Synthetic Leather Market, by Type
1.3.2 Europe Synthetic Leather Market, by Application
1.3.3 Europe Synthetic Leather Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
4. Europe Synthetic Leather Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Synthetic Leather Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand from Various End-Use Industries
5.1.2 Benefits of Synthetic Leather
5.2 Market Restraints
5.2.1 Harmful Effects of PVC and PU and Durability Issues of Synthetic Leather
5.3 Market Opportunities
5.3.1 Growing Demand from Footwear Industry
5.4 Future Trends
5.4.1 Increasing Focus on Development of Bio-Based Leather
5.5 Impact Analysis of Drivers and Restraints
6. Synthetic Leather – Europe Market Analysis
6.1 Europe Synthetic Leather Market Overview
6.2 Europe Synthetic Leather Market –Revenue and Forecast to 2028 (US$ Mn)
7. Europe Synthetic Leather Market Analysis – By Type
7.1 Overview
7.2 Europe Synthetic Leather Market, By Type (2020 and 2028)
7.2.1 Polyurethane
7.2.1.1 Overview
7.2.1.2 Polyurethane: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.2 Polyvinyl Chloride
7.2.2.1 Overview
7.2.2.2 Polyvinyl Chloride: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.3 Silicone:
7.2.3.1 Overview
7.2.3.2 Silicone: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.4 Others:
7.2.4.1 Overview
7.2.4.2 Others: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8. Europe Synthetic Leather Market Analysis – By Application
8.1 Overview
8.2 Europe Synthetic Leather Market, By Application (2020 and 2028)
8.2.1 Footwear
8.2.1.1 Overview
8.2.1.2 Footwear: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8.2.2 Furniture
8.2.2.1 Overview
8.2.2.2 Furniture: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8.2.3 Automotive
8.2.3.1 Overview
8.2.3.2 Automotive: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8.2.4 Clothing
8.2.4.1 Overview
8.2.4.2 Clothing: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8.2.5 Stationery Goods
8.2.5.1 Overview
8.2.5.2 Stationery Goods: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
8.2.6 Others
8.2.6.1 Overview
8.2.6.2 Others: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
9. Europe Synthetic Leather Market – Country Analysis
9.1 Overview
9.1.1 Europe: Synthetic Leather Market, by Key Country
9.1.1.1 Germany: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Germany: Synthetic Leather Market, By Type
9.1.1.1.2 Germany: Synthetic Leather Market, by Application
9.1.1.2 France: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 France: Synthetic Leather Market, By Type
9.1.1.2.2 France: Synthetic Leather Market, by Application
9.1.1.3 Italy: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: Synthetic Leather Market, By Type
9.1.1.3.2 Italy: Synthetic Leather Market, by Application
9.1.1.4 Russia: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Russia: Synthetic Leather Market, By Type
9.1.1.4.2 Russia: Synthetic Leather Market, by Application
9.1.1.5 UK: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 UK: Synthetic Leather Market, By Type
9.1.1.5.2 UK: Synthetic Leather Market, by Application
9.1.1.6 Rest of Europe: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Synthetic Leather Market, By Type
9.1.1.6.2 Rest of Europe: Synthetic Leather Market, by Application
10. Impact of COVID-19 on Europe Synthetic Leather Market
10.1 Overview
11. Industry Landscape
11.1 Product & Service Launch
12. Company Profiles
12.1 San Fang Chemical Industrial Co Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 KURARAY CO., LTD.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Teijin Limited
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nan Ya Plastics
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Mayur Uniquoters Limited
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 H.R.Polycoats Pvt. Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 BASF SE
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Alfatex Italia
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 FUJIAN POLYTECH TECHNOLOGY CORP., LTD.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Synthetic Leather Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Germany Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. France Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. France Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Italy Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Russia Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Russia Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. UK Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. UK Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Europe Synthetic Leather Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe Synthetic Leather Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Glossary of Terms, Europe Synthetic leather Market
LIST OF FIGURES
Figure 1. Europe Synthetic Leather Market Segmentation
Figure 2. Europe Synthetic Leather Market Segmentation – By Country
Figure 3. Europe Synthetic Leather Market Overview
Figure 4. Europe Synthetic Leather Market, By Application
Figure 5. Europe Synthetic Leather Market, by Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Synthetic Leather Market - Ecosystem
Figure 8. Expert Opinion
Figure 9. Europe Synthetic Leather Market Impact Analysis of Driver and Restraints
Figure 10. Europe Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 11. Europe Synthetic leather Market Revenue Share, By Type (2020 and 2028)
Figure 12. Europe Polyurethane: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. Europe Polyvinyl Chloride: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. Europe Silicone: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Europe Others: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Europe Synthetic Leather Market Revenue Share, By Application (2020 and 2028)
Figure 17. Europe Footwear: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. Europe Furniture: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Europe Automotive: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Europe Clothing: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Europe Stationery Goods: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Europe Others: Synthetic Leather Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Europe: Synthetic Leather Market by Key Country-Revenue 2020 (US$ Million)
Figure 24. Europe: Synthetic Leather Market Revenue Share, by Key Country (2020 and 2028)
Figure 25. Germany: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. France: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Italy: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Russia: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. UK: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of Europe: Synthetic Leather Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic on Synthetic Leather Market in Europe
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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