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NORTH AMERICA SYNTHETIC LEATHER MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America Synthetic Leather Market by Product (Polyurethane, Polyvinyl Chloride, Bio-based) Market by Application (Footwear, Automotive, Furnishing, Clothing, Bags & Wallets, Other Applications) by Geography

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MARKET OVERVIEW

The North America synthetic leather market is expected to generate 5202.65 million meters in volume and $12448.76 million in revenue by 2023. The market is estimated to grow with a 7.46% CAGR and 7.27% CAGR in revenue and volume, respectively, during the forecasted years between 2023 and 2032.

Rising innovations related to the bio-based leather industry and increasing concerns from animal rights groups such as PETA and WWF are expected to boost synthetic leather utilization across the sector over the forecast period. Furthermore, the growing number of working professionals has increased demand for formal footwear, adding to the expansion of the footwear market, which in turn drives the synthetic leather market.

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Additionally, vegan fashion has become popular, creating a demand for premium products from synthetic leather. Vegan boots, vegan outdoor skates, and formal shoes made from synthetic leather have gained popularity in North America. Besides, increasing research and development in synthetic leather and strengthening regulations propel market growth. The market is appealing for the manufacturers owing to the lower costs involved in the projects.

The North America synthetic leather market growth evaluation includes the assessment of Canada and the United States. Consumption of synthetic leather in the United States has significantly increased recently. Over the coming years, consumption is expected to rise much more. The entire market in the United States is anticipated to grow significantly due to the demand for vehicle synthetic leather upholstery. Over the forecast period, actions taken to enhance the supply chain are anticipated to have a favorable effect on the market in the United States.

According to the International Trade Administration, a significant automotive market exists in the United States. Seat upholstery, gear boots, knob covers, roof lining, front dashboard lining, and hoods are all synthetic leather. Highly elastic, long-lasting, heat-resistant and cold-resistant, and easy to maintain. The growing demand from the automotive industry is driving the synthetic leather market.

Furthermore, global players headquartered in the United States contribute to the high demand for synthetic leather for automobile interiors. Moreover, due to the presence of highly developed industries, cutting-edge processing, application technologies, a highly qualified workforce, and expanding research and development initiatives to support new product launches, the United States presents a leading market for synthetic leather.

The North America synthetic leather market analysis entails the segmentation by application and product. Market by product includes bio-based, polyvinyl chloride (PVC), and polyurethane (PU).

Cellulose and vegetable oil are two examples of renewable bio-based materials used to create bio-based leather. Bio-based leather, often known as eco-leather, is produced without hazardous or petroleum-based chemicals. The main applications for bio-based leather are in upholstery, fashion, and automotive.

Since bio-based leather is environmentally benign, there are fewer laws governing it. Among vegans, products manufactured of bio-based leather are very popular. However, because the product is more expensive than PU and PVC leather, its market may be constrained in emerging and undeveloped nations. Markets in North America and Europe are anticipated to grow significantly during the projection period, despite the expensive product cost. 

Major players operating in the North America synthetic leather market entails Achilles USA Inc, Kuraray Co Ltd, etc.

Achilles USA Inc is a manufacturing subsidiary of the worldwide conglomerate of plastic film manufacturing, Achilles Corporation. The company provides rubberized fabrics, antistatic products, synthetic leathers, plastic films, ait tents, and inflatable boats. Achilles USA offers its products to automotive, graphics, industrial fabrics, semiconductors, medical & health care, specialty markets, and stationery worldwide. The company headquarters are in Washington, United States.  

Synthetic leather from Achilles USA Inc includes vinyl and polyurethane products for interior trim covers, interior surface applications, rear shelves, door panels, and seating.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million), Volume (Million Meters)
Segments Analyzed
Product and Application
Countries AnalyzedThe United States and Canada
Companies AnalyzedAchilles USA Inc, Alfatex Italia SRL, Toray Industries Inc, BASF SE, HR Polycoats Pvt Ltd, Kuraray Co Ltd, Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co Ltd, Teijin Limited, FILWEL Co Ltd, Yantai Wanhua Synthetic Leather Group Co Ltd, Zhejiang Hexin Holdings Co Ltd, Winner Nippon Leatherette Pvt Ltd, Taiwan PU Corporation.

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. ADOPTION OF VEGAN-BASED LEATHER ACROSS THE FASHION INDUSTRY
      2. SURGING USE OF SYNTHETIC LEATHER BY AUTOMOTIVE GIANTS
      3. MYTH THAT SYNTHETIC LEATHER IS MORE ECO-FRIENDLY THAN REAL LEATHER
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. INCREASE IN DEMAND FROM VARIOUS END USE INDUSTRIES
      2. TECTONIC SHIFT TOWARD THE ADOPTION OF ANIMAL-FREE AND SUSTAINABLE PRODUCTS
      3. CHEAPER AND MORE AFFORDABLE ALTERNATIVE TO NATURAL LEATHER
    2. KEY RESTRAINTS
      1. CONCERNS REGARDING THE USE OF PVC AND PU
      2. FUNDAMENTAL DIFFERENCES FROM NATURAL COUNTERPARTS
  4. KEY ANALYTICS
    1. PARENT MARKET ANALYSIS
    2. MANUFACTURING TECHNOLOGY SNAPSHOT
      1. WET PROCESS
      2. TRANSFER COATING TECHNOLOGY
    3. KEY MARKET TRENDS
    4. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    5. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR UNITED STATES
    6. MARKET MATURITY ANALYSIS
    7. MARKET CONCENTRATION ANALYSIS
    8. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL SUPPLIERS
      2. MANUFACTURERS
      3. DISTRIBUTORS
      4. END USE
    9. KEY BUYING CRITERIA
      1. RAW MATERIAL
      2. DURABILITY
      3. COST
  5. MARKET BY PRODUCT
    1. POLYURETHANE (PU)
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. POLYVINYL CHLORIDE (PVC)
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. BIO-BASED
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY APPLICATION
    1. FOOTWEAR
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. AUTOMOTIVE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. FURNISHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. CLOTHING
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. BAGS & WALLETS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. OTHER APPLICATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA SYNTHETIC LEATHER MARKET DRIVERS
      3. NORTH AMERICA SYNTHETIC LEATHER MARKET CHALLENGES
      4. NORTH AMERICA SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS
      6. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS DIVESTITURES & EXPANSIONS
    2. COMPANY PROFILES
      1. ACHILLES USA INC
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES
      2. ALFATEX ITALIA SRL
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES
      3. BASF SE
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES 
      4. FILWEL CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS
      5. HR POLYCOATS PVT LTD
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES 
      6. KURARAY CO LTD
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES
      7. MAYUR UNIQUOTERS LIMITED
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES 
      8. NAN YA PLASTICS CORPORATION INC
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES 
      9. SAN FANG CHEMICAL INDUSTRY CO LTD
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES 
      10. TAIWAN PU CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS
      11. TEJIN LIMITED
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES
      12. TORAY INDUSTRIES INC
        1. COMPANY OVERVIEW
        2. FINANCIAL ANALYSIS
        3. PRODUCTS
        4. STRENGTHS & CHALLENGES
      13. WINNER NIPPON LEATHERETTE PVT LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS
      14. YANTAI WANHUA SYNTHETIC LEATHER GROUP CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS
      15. ZHEJIANG HEXIN HOLDINGS CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – SYNTHETIC LEATHER

TABLE 2: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 3: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY PRODUCT, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)

TABLE 5: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY PRODUCT, FORECAST YEARS, 2023-2032 (IN MILLION METERS)

TABLE 6: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 7: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)

TABLE 9: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN MILLION METERS)

TABLE 10: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 11: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 12: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN MILLION METERS)

TABLE 13: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN MILLION METERS)

TABLE 14: NORTH AMERICA SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK

TABLE 15: LEADING PLAYERS OPERATING IN NORTH AMERICA SYNTHETIC LEATHER MARKET

TABLE 16: LIST OF ACQUISITIONS

TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: MANUFACTURING TECHNOLOGY SNAPSHOT

FIGURE 2: KEY MARKET TRENDS

FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

FIGURE 4: GROWTH PROSPECT MAPPING FOR UNITED STATES

FIGURE 5: MARKET MATURITY ANALYSIS

FIGURE 6: MARKET CONCENTRATION ANALYSIS

FIGURE 7: VALUE CHAIN ANALYSIS

FIGURE 8: KEY BUYING CRITERIA

FIGURE 9: NORTH AMERICA SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY PRODUCT, BY REVENUE, IN 2022

FIGURE 10: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY POLYURETHANE (PU), 2023-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY POLYVINYL CHLORIDE (PVC), 2023-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY BIO-BASED, 2023-2032 (IN $ MILLION)

FIGURE 13: NORTH AMERICA SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 14: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY FOOTWEAR, 2023-2032 (IN $ MILLION)

FIGURE 15: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY AUTOMOTIVE, 2023-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY FURNISHING, 2023-2032 (IN $ MILLION)

FIGURE 17: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY CLOTHING, 2023-2032 (IN $ MILLION)

FIGURE 18: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY BAGS & WALLETS, 2023-2032 (IN $ MILLION)

FIGURE 19: NORTH AMERICA SYNTHETIC LEATHER MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 20: NORTH AMERICA SYNTHETIC LEATHER MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 21: UNITED STATES SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 22: CANADA SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 23: TORAY INDUSTRIES INC, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 24: TORAY INDUSTRIES INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 25: TORAY INDUSTRIES INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 26: BASF SE, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 27: BASF SE, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 28: BASF SE, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 29: BASF SE, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 30: KURARAY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 31: KURARAY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 32: KURARAY CO LTD, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 33: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 34: MAYUR UNIQUOTERS LIMITED, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 35: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 36: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 37: NAN YA PLASTICS CORPORATION, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 38: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY INDUSTRY, IN 2021 (IN %)

FIGURE 39: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 40: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 41: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 42: TEJIN LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 43: TEJIN LIMITED, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 44: TEJIN LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

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