The global synthetic leather market size is expected to be around $44.9 billion by 2026, and this market is expected to grow at an 8% CAGR over the forecast period.
Global demand has changed outlook due to increased cross-applications for apparel, cars, dresses, sacks and others. Accordingly, creators are focusing on expanding the limits of their creation. The global market is divided and driven by two organizations. This creator underlined the back-and-forth consolidation of respected suffixes to increase efficiency and generally increase profitability, resulting in high pass-through barriers.
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Key players operating in global synthetic leather market share include Kuraray, Tejin, Toray, Favini, Mayur Uniquoters, Filwel and San Fang Chemicals. Other prominent companies include Alflatex, HR Polycoats, Dunksung and Daewon Chemicals.
Synthetic Leather Market: Segmentation
On the basis of Type
• PU-Based
• PVC Based
• Bio-based
On the basis of end-use industry
• Footwear
• Furnishing
• Automotive
• Clothing
• Bags, Purses & Wallets
• Others
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