Microfiber Synthetic Leather Market Pegged for Robust Expansion During 2017 to 2026

Written by XploreMR

XploreMR Report examines global microfiber synthetic leather
market for the forecast period 2017–2026. Prime purpose of the report is to
find opportunities and trends in the market and provide insights pertaining to
segments of the global
microfiber synthetic leather market
.

To understand the opportunities and trends in this market, the
report is categorically divided into three sections namely on the basis of
product type, application, and region. The report analyzes global microfiber
synthetic leather in terms of value (US$) and volume (‘000 units).

Microfiber leather is a type of synthetic leather where
ultra-fine microfiber bundles and high grade polyurethane resin are combined
together to imitate the infinitesimal structure of leather. The procedure used
to create microfiber leather gives the final product a similar amino structure
almost identical to genuine leather. Microfiber leather is a comparatively new
technology in the market that has only recently been incorporated into several
applications. Global microfiber synthetic leather market is anticipated to
witness significant revenue growth over the forecast period.

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Rapid changes in lifestyle has led to shift in consumer
preference from animal leather to microfiber synthetic leather. As a result,
domestic and international companies are making major investments in synthetic
leather instead of real leather. Because of magnificent performance, microfiber
synthetic leather has been the best vegan leather, the optimal substitute of
real leather and the best leather alternative materials, can replace leather
perfectly.

However, high cost price of microfiber synthetic leather is a
prime challenge for leather substitute industries.

Microfibers are 100 times finer than human hair. The fineness of
microfibers creates durability and flexibility in the fabric. Leather is made
from the hide of a cow or other animal that has undergone a tanning process
before being upholstered onto a sofa. Microfiber is purchased by the yard.
Leather is purchased by the hide. This in turn, significantly increases costs
associated with microfiber synthetic leather.

The section that follows includes analysis of global microfiber
synthetic leather market by product type, application, and region.

The three sections evaluate the global microfiber synthetic
leather market on the basis of various factors covering present scenario and
future prospectus.

The report also provides region-wise data of local and
international companies, new install base of Microfiber synthetic leather.

The global microfiber synthetic leather market
is segmented as follows:

On the basis of product type the market is segmented into the
following:

·        
Bio-Based Leather

·        
PU Synthetic Leather

·        
PVC-Based Synthetic
Leather

PVC-Based Synthetic Leather accounts for one-third of total
microfiber synthetic leather market. However, Microfiber Synthetic Leather
market is expected to expand at a CAGR of 4.9% over the forecast period.

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On the basis of Application, the market is segmented as follows:

·        
Clothing

·        
Furnishing

·        
Bags, Purses &
Wallets

·        
Footwear

·        
Automotive

·        
Other Applications

Furnishing segment is expected to dominate microfiber synthetic
leather market over the forecast period. However, rapidly growing number of
automotive requirements are creating high growth opportunities for microfiber
synthetic leather market.

Regions covered in the report are as follows:

·        
North America

·        
Latin America

·        
Europe

·        
Japan

·        
Asia Pacific excluding
Japan

·        
Middle East &
Africa

In the final section of the report, a competitive landscape has
been included to provide report audiences with a dashboard view. Detailed
profiles of the providers are also included in the scope of the report to
evaluate their long-term and short-term strategies, key offerings and recent
developments in the microfiber synthetic leather space.

Key players in the global microfiber synthetic leather market
includes Huafon Group, Kuraray, Toray, Wenzhou Imitation Leather, Alfatex,
Zhejiang Hexin Industry Group Co., Ltd., Anhui Anli Material Technology Co.,
Ltd., Kunshan Xiefu Artificial Leather Co., Ltd., Shandong Tongda Textile
Machinery (group) Co.,Ltd., Tongda Island, Double Elephant, Topsun Micro Fiber,
Yantai Wanhua Synthetic Leather Group Co., Ltd., Teijin Cordley, Asahi Kasei
Mayur Uniquoters Limited, Xiangyu Xinghong, Clarino, Kolon Industries, San Fang
Chemical Industry Co., Ltd., Wanhua Micro Fiber, Jeongsan International,
Meisheng Group, FILWEL, Huafeng Group, Fujian Tianshou, Ecsaine, Sanling Micro
Fiber, SISA, NPC, Ecolorica, H.R.Polycoats Pvt. Ltd., others.

In addition, it is imperative to note that in an
ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR
but also analyze on the basis of key parameters such as year-on-year (Y-o-Y)
growth to understand the predictability of the market and to identify the right
opportunities.

Also, another key feature of this report is the analysis of all
key segments in terms of absolute dollar opportunity. This is traditionally
overlooked while forecasting the market. However, absolute dollar opportunity
is critical in assessing the level of opportunity that a provider can look to
achieve, as well as to identify potential resources from a sales and delivery
perspective in the global microfiber synthetic leather market.

 

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