Exclusive special offer and discount title banner vector image

ASIA-PACIFIC SYNTHETIC LEATHER MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

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


MARKET OVERVIEW

The Asia-Pacific synthetic leather market is expected to generate $28324.30 million in revenue and 13918.67 million meters in volume by 2032. The market is anticipated to accelerate with a 7.24% CAGR and 7.01% CAGR in revenue and volume, respectively, during the estimation period 2023-2032.

Asia-Pacific is characterized by several market players engaged in expanding their production capacities to cater to the import needs of countries such as the United States, Germany, and the United Kingdom. Asia-Pacific is characterized by accessibility to a large amount of skilled labor at low cost and easy land availability. Additionally, the shifting production landscape in emerging economies is anticipated to positively influence market growth over the forecast period. Further, the region is also home to several rapidly expanding industries, such as footwear, apparel, automotive, etc., which present vast growth potential for artificial leather manufacturers.

To Know More About This Report, Request a Free Sample Copy

The Asia-Pacific synthetic leather market growth analysis includes the evaluation of Indonesia, Australia & New Zealand, Vietnam, China, Thailand, South Korea, India, Japan, and Rest of Asia-Pacific. As housing circumstances in China improve, more people are expanding their spending on home furnishings. In China, consumers are replacing their furniture more frequently than in the past due to rising living standards and steadily increasing disposable income, driving the furniture market forward. Besides, the market for synthetic leather for numerous uses rose as customer demand for furniture increased. In addition, the footwear market in China has long been the largest globally, with China maintaining its hegemony as the largest footwear maker and the largest footwear exporter in the world market.

On the other hand, the demand for synthetic leather in Japan is anticipated to rise over the forecast period due to industry players’ ongoing product development and research and decreasing product prices. Rising health awareness coupled with growing consumer interest in hiking, climbing, and other physical activities has supplemented the product demand from this segment. As the aging population is growing in Japan, their unique footwear requirements are also posing lucrative growth opportunities for the footwear industry.

The Asia-Pacific synthetic leather market assessment includes segmentation by product and application. Market by product covers polyvinyl chloride (PVC), polyurethane (PU), and bio-based.

Since soft polymers are used in producing PU-based synthetic leather, extra plasticizers are unnecessary. The manufacturing of PU synthetic leather uses various raw materials, such as crosslinking agents, nonwoven or woven fabric, polyurethane, viscosity regulators, colorants, and adhesives. In addition to being simple to dry clean, it is waterproof, softer, and lighter than animal-based leather. In addition, it is less resistant to sunlight than real leather and is more readily torn. Due to these qualities, it is a perfect material for various automotive applications.  

Since polyurethane (PU) leather does not emit dioxins like vinyl-based leather, it is considered more environmentally friendly. However, due to the lengthy production process required, it costs more than PVC-based leather. In terms of product yield, variety, and quality, the demand for PU synthetic leather has been growing steadily in recent years. It is progressively replacing animal-based leather in automobile interiors, briefcases, handbags, and clothes because of its rising application and usability scope.

Leading players operating in the Asia-Pacific synthetic leather market include San Fang Chemical Industry Co Ltd, Kuraray Co Ltd, etc.

Kuraray Co Ltd is involved in the production of artificial fiber. The company has key business segments like vinyl acetate, isoprene, functional materials, fibers and textiles, trading, etc. Under the fibers and textiles business segment, the company offers Clarino man-made leather. The product is used in various end-use industries, including shoes, furniture, accessories, consumer electronics, bags, and garments. The company’s distribution channels are in North America, Europe, and Asia-Pacific. The company is headquartered in Tokyo, Japan.

Kuraray’s CLARINO – Man Made Leather is used in various end-use industries, including garments, furniture, shoes, accessories, bags and consumer electronics. It 

is used in various applications, such as athletic shoes, gloves, school bags, phone accessories, balls, shoes, polishing materials, etc.

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 AnalyzedChina, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
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 INDIA
    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. ASIA-PACIFIC
      1. MARKET ESTIMATES & SIZES
      2. ASIA-PACIFIC SYNTHETIC LEATHER MARKET DRIVERS
      3. ASIA-PACIFIC SYNTHETIC LEATHER MARKET CHALLENGES
      4. ASIA-PACIFIC SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS
      6. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND SYNTHETIC LEATHER MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC 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: ASIA-PACIFIC SYNTHETIC LEATHER MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

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

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

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

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

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

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

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

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

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

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

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

TABLE 14: ASIA-PACIFIC SYNTHETIC LEATHER MARKET REGULATORY FRAMEWORK

TABLE 15: LEADING PLAYERS OPERATING IN ASIA-PACIFIC 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 INDIA

FIGURE 5: MARKET MATURITY ANALYSIS

FIGURE 6: MARKET CONCENTRATION ANALYSIS

FIGURE 7: VALUE CHAIN ANALYSIS

FIGURE 8: KEY BUYING CRITERIA

FIGURE 9: ASIA-PACIFIC SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY PRODUCT, BY REVENUE, IN 2022

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

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

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

FIGURE 13: ASIA-PACIFIC SYNTHETIC LEATHER MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

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

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

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

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

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

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

FIGURE 20: ASIA-PACIFIC SYNTHETIC LEATHER MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN%)

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

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

FIGURE 23: INDIA SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24: SOUTH KOREA SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25: INDONESIA SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 26: THAILAND SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 27: VIETNAM SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28: AUSTRALIA & NEW ZEALAND SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 29: REST OF ASIA-PACIFIC SYNTHETIC LEATHER MARKET, 2023-2032 (IN $ MILLION)

FIGURE 30: TORAY INDUSTRIES INC, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 31: TORAY INDUSTRIES INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 32: TORAY INDUSTRIES INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 33: BASF SE, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 34: BASF SE, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 35: BASF SE, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 36: BASF SE, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 37: KURARAY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 38: KURARAY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 39: KURARAY CO LTD, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 40: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 41: MAYUR UNIQUOTERS LIMITED, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 42: MAYUR UNIQUOTERS LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 43: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 44: NAN YA PLASTICS CORPORATION, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 45: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY INDUSTRY, IN 2021 (IN %)

FIGURE 46: NAN YA PLASTICS CORPORATION, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FIGURE 47: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 48: SAN FANG CHEMICAL INDUSTRY CO LTD, COMPANY NET PROFIT, IN 2017-2021 (IN $ MILLION)

FIGURE 49: TEJIN LIMITED, COMPANY REVENUE, IN 2017-2021 (IN $ MILLION)

FIGURE 50: TEJIN LIMITED, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)

FIGURE 51: TEJIN LIMITED, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)

FAQ’s