Microfiber Synthetic Leather Market
Microfiber Synthetic Leather Market Analysis by Bio-Based, PU- Based, and PVC-Based from 2023 to 2033
Analysis of Microfiber Synthetic Leather market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Microfiber Synthetic Leather Market Outlook (2023 to 2033)
The global microfiber synthetic leather (MSL) market is estimated to be valued at US$ 1.2 billion in 2023 and it is anticipated to grow at a CAGR of 5.0% to reach US$ 1.9 billion by the end of 2033.
One type of synthetic leather is microfiber leather fabric, which is made of microfiber non-woven fabric that has been coated with a layer of polyurethane, high-performance resins. Microfiber synthetic fiber because of its properties such as softness and lightweight is gaining manufacturer’s attention across various end-use industries.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2023E) | US$ 1.2 Billion |
| Forecasted Market Value (2033F) | US$ 1.9 Billion |
| Global Market Growth Rate (2023 to 2033) | 5.0% CAGR |
| North America Market Share (2023) | 22.3% |
| East Asia Market Growth Rate (2023 to 2033) | 5.4% CAGR |
| Europe Market Growth Rate (2023 to 2033) | 5.1% CAGR |
| Key Companies Profiled | Chevron Phillips Chemical Company LLC; Dymatic Chemicals, Inc.; Beijing Eastern Acrylic Chemical Technology Co., Ltd; LG Chem, Ltd.; Yeochun NCC Co. Ltd.; Trecora Resources |
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Historic and Future Path for Microfiber Synthetic Leather Market
Microfiber synthetic leather is most widely used in the clothing industry because of its softness, and lightweight. Microfiber synthetic leather is also known for its resistance to dirt and water, which makes them a popular choice in the garment, furniture, footwear, and automotive industry.
- Short Term (2023 to 2026): Growing disposable income drives the clothing industry, which is likely to drive the MSL market in the near term.
- Medium Term (2026 to 2029): Government regulations over the use of animal leather is set to drive the MSL market during the projection period.
- Long Term (2029 to 2033): Market players focus on research and development for product enhancement and customization to cater to the needs of the end-users and gain high-profit margins.
Market Dynamics Overview
“Sustainable Substitute to Natural Leather Drives the MSL Market Growth”
Leathers are most widely preferred in industries such as clothing, consumer goods, automotive, and many more. Its physical properties make them suitable for use in various end-use applications. Due to limited resources of natural resources, the prices of natural leather have increased rapidly over the years and it tends to be more expensive than ever.
As a result of these, the demand for microfiber synthetic fiber has increased significantly. Since it has properties similar to leather such as softness and lightweight it finds application in many end-use industries where leathers are used primarily. Microfiber leather is an ideal substitute for natural leather and exponentially emerged over the past few years.
Ongoing research and development in microfiber synthetic leather have provided manufacturers an upper edge and improved mechanical behavior than natural leather.
“Growing Automotive & Furniture Industry to Boost the Sales”
Over the period, the automotive and furniture industry is growing at a significant pace. Rising disposable income especially in developing economies has enabled consumers to increase their spending on personal grooming and leading a luxurious lifestyle. This, in turn, enables them to opt for leather products, including clothing, furniture-related products, and more.
Leathers are considered an essential component in the automotive industry. It is widely used to enhance the aesthetics of the vehicle since it covers the infotainment center, steering, and controllers. Leather is used to sustain various types of fatigue such as wear & tear and scratches. This is expected to fuel the microfiber synthetic leather market in the coming years.
“High Manufacturing Cost to Hamper Market Growth”
The high manufacturing cost of microfiber synthetic leather is likely to have a negative impact on the growth of the microfiber synthetic leather market. Due to its high cost, it has not been widely used by many small and medium-scale manufacturers in the clothing and furniture industry.
Stringent government regulations regarding the use of faux-based products are likely to hamper the MSL market growth over the forecast period.
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Country-wise Insights
Why the US is a Prominent Country for the MSL Market?
The US microfiber synthetic leather market has grown at a CAGR of 4.0% in the historical period from 2018 to 2022 and is anticipated to grow at a CAGR of 5.1% in the forecast period.
The US is likely to witness high demand for microfiber synthetic leather from various end-use industries such as clothing, automotive, footwear, and many more.
The growing automotive industry in the US is anticipated to create high demand for microfiber synthetic leather in the coming years, as it is considered an automotive hub. The US has the presence of some of the leading automotive manufacturing companies such as General Motors, Tesla, and Ford. Leather plays an important role in the automotive industry. Rising demand for lightweight design and optimized efficiency, simultaneously providing comfort for drivers as well as passengers.
What Role does China Play in the Expansion of the MSL Market?
China is a leather-producing country across the globe with a production of over 6,000 million Sq.ft. China holds 25% of global leather production. Hence, China is likely to dominate the microfiber synthetic leather market growth over the forecast period.
China is one of the fastest-growing economies. The rising disposable income has been a key factor in the growing consumer spending on clothing, bags, and furniture, footwear, which is likely to increase the demand for the microfiber synthetic leather market in China.
Category-wise Insights
Why is Bio-Based Leather Getting Consumer’s Attraction?
The manufacturing of bio-based leather has very less environmental impact as compared to polyurethane and PVE-based synthetic leather. This has gained high consumer as well as manufacturers attention. It has been recorded as the consumer has drastically shifted towards sustainability and biodegradable products. Furthermore, leading market players are employing soybean, flax, and palm as raw materials.
Bio-based leathers are anticipated to grow at a CAGR of 5.3% in the forecast period.
Which Application is Expected to Drive the Market Growth?
Clothing application is expected to drive market growth during the forecast period. Increasing demand for high-quality clothing in both developed as well as developing countries is likely to increase microfiber synthetic leather demand.
With rising per capita income consumer spending on clothing has increased, and people also opt for leather products due to rising disposable income which is likely to create high demand for microfiber synthetic leather manufacturers.
Clothing application in the microfiber synthetic leather has grown at a CAGR of 4.1% in the historical period between 2018 to 2022 and is anticipated to grow at a CAGR of 5.3% in the forecast period.
Know thy Competitors
Competitive landscape highlights only certain players
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Market Titans Key Strategies
Prominent microfiber synthetic leather manufacturers are Ecolorica, Fujian Tianshou, Huafon Group, Meisheng Group, and Toray Group
Leading market players in microfiber synthetic leather are investing in research and development for the betterment of the product such as increasing softness and reducing the weight of the leather. Manufacturers are also looking for strategic collaborations. Expanding production remains a highly preferred strategy among the market’s leading players.
Fact.MR has provided detailed information about the price points of key manufacturers of microfiber synthetic leather positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Microfiber Synthetic Leather Industry Research
-
By Product Type :
- Bio-Based
- PU-Based
- PVC-Based
-
By Application :
- Clothing
- Furnishing
- Bags, Purses & Wallets
- Footwear
- Automotive
- Others
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (Tons) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Product Type
- 7.1. Bio-Based
- 7.2. PU-Based
- 7.3. PVC-Based
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Clothing
- 8.2. Furnishing
- 8.3. Bags, Purses & Wallets
- 8.4. Footwear
- 8.5. Automotive
- 8.6. Others
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. East Asia
- 9.5. South Asia & Oceania
- 9.6. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. East Asia Market Analysis and Forecast
- 14. South Asia & Oceania Market Analysis and Forecast
- 15. Middle East & Africa Market Analysis and Forecast
- 16. Country-level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. Ecolorica
- 18.2. Fujian Tianshou
- 18.3. Huafon Group
- 18.4. Meisheng Group
- 18.5. Toray
- 18.6. Other Players
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
List Of Table
Table 1: Global Market Value (US$ million), By Region, 2018 to 2022
Table 2: Global Market Value (US$ million) and Forecast By Region, 2023 to 2033
Table 3: Global Market Volume (Tons), By Region, 2018 to 2022
Table 4: Global Market Volume (Tons) and Forecast By Region, 2023 to 2033
Table 5: Global Market Value (US$ million), By Product Type, 2018 to 2022
Table 6: Global Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 7: Global Market Volume (Tons), By Product Type, 2018 to 2022
Table 8: Global Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 9: Global Market Value (US$ million), By Application, 2018 to 2022
Table 10: Global Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 11: Global Market Volume (Tons), By Application, 2018 to 2022
Table 12: Global Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 13: North America Market Value (US$ million), By Country, 2018 to 2022
Table 14: North America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 15: North America Market Volume (Tons), By Country, 2018 to 2022
Table 16: North America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 17: North America Market Value (US$ million), By Product Type, 2018 to 2022
Table 18: North America Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 19: North America Market Volume (Tons), By Product Type, 2018 to 2022
Table 20: North America Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 21: North America Market Value (US$ million), By Application, 2018 to 2022
Table 22: North America Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 23: North America Market Volume (Tons), By Application, 2018 to 2022
Table 24: North America Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 25: Latin America Market Value (US$ million), By Country, 2018 to 2022
Table 26: Latin America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 27: Latin America Market Volume (Tons), By Country, 2018 to 2022
Table 28: Latin America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 29: Latin America Market Value (US$ million), By Product Type, 2018 to 2022
Table 30: Latin America Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 31: Latin America Market Volume (Tons), By Product Type, 2018 to 2022
Table 32: Latin America Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 33: Latin America Market Value (US$ million), By Application, 2018 to 2022
Table 34: Latin America Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 35: Latin America Market Volume (Tons), By Application, 2018 to 2022
Table 36: Latin America Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 37: Europe Market Value (US$ million), By Country, 2018 to 2022
Table 38: Europe Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 39: Europe Market Volume (Tons), By Country, 2018 to 2022
Table 40: Europe Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 41: Europe Market Value (US$ million), By Product Type, 2018 to 2022
Table 42: Europe Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 43: Europe Market Volume (Tons), By Product Type, 2018 to 2022
Table 44: Europe Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 45: Europe Market Value (US$ million), By Application, 2018 to 2022
Table 46: Europe Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 47: Europe Market Volume (Tons), By Application, 2018 to 2022
Table 48: Europe Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 49: East Asia Market Value (US$ million), By Country, 2018 to 2022
Table 50: East Asia Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 51: East Asia Market Volume (Tons), By Country, 2018 to 2022
Table 52: East Asia Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 53: East Asia Market Value (US$ million), By Product Type, 2018 to 2022
Table 54: East Asia Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 55: East Asia Market Volume (Tons), By Product Type, 2018 to 2022
Table 56: East Asia Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 57: East Asia Market Value (US$ million), By Application, 2018 to 2022
Table 58: East Asia Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 59: East Asia Market Volume (Tons), By Application, 2018 to 2022
Table 60: East Asia Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 61: South Asia & Oceania Market Value (US$ million), By Country, 2018 to 2022
Table 62: South Asia & Oceania Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 63: South Asia & Oceania Market Volume (Tons), By Country, 2018 to 2022
Table 64: South Asia & Oceania Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 65: South Asia & Oceania Market Value (US$ million), By Product Type, 2018 to 2022
Table 66: South Asia & Oceania Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 67: South Asia & Oceania Market Volume (Tons), By Product Type, 2018 to 2022
Table 68: South Asia & Oceania Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 69: South Asia & Oceania Market Value (US$ million), By Application, 2018 to 2022
Table 70: South Asia & Oceania Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 71: South Asia & Oceania Market Volume (Tons), By Application, 2018 to 2022
Table 72: South Asia & Oceania Market Volume (Tons) and Forecast By Application, 2023 to 2033
Table 73: MEA Market Value (US$ million), By Country, 2018 to 2022
Table 74: MEA Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 75: MEA Market Volume (Tons), By Country, 2018 to 2022
Table 76: MEA Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 77: MEA Market Value (US$ million), By Product Type, 2018 to 2022
Table 78: MEA Market Value (US$ million) and Forecast By Product Type, 2023 to 2033
Table 79: MEA Market Volume (Tons), By Product Type, 2018 to 2022
Table 80: MEA Market Volume (Tons) and Forecast By Product Type, 2023 to 2033
Table 81: MEA Market Value (US$ million), By Application, 2018 to 2022
Table 82: MEA Market Value (US$ million) and Forecast By Application, 2023 to 2033
Table 83: MEA Market Volume (Tons), By Application, 2018 to 2022
Table 84: MEA Market Volume (Tons) and Forecast By Application, 2023 to 2033
List Of Figures
Figure 1: Global Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 2: Global Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 3: Global Market Value (US$ million) and Volume (Tons) By Region, 2023 & 2033
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2023 to 2033
Figure 5: Global Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 6: Global Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 7: Global Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 8: Global Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 9: North America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 10: North America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 11: North America Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 13: North America Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 15: North America Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 18: North America Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 19: North America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 20: Latin America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 22: Latin America Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 23: Latin America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 24: Latin America Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 25: Latin America Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 26: Latin America Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 27: Latin America Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 28: Latin America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 29: Latin America Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis By Application, 2023 to 2033
Figure 31: Europe Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 32: Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 33: Europe Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 34: Europe Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 35: Europe Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 36: Europe Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 37: Europe Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 38: Europe Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 41: Europe Market Attractiveness Analysis By Application, 2023 to 2033
Figure 42: East Asia Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 43: East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 44: East Asia Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 45: East Asia Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 46: East Asia Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 47: East Asia Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 48: East Asia Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 49: East Asia Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 50: East Asia Market Attractiveness Analysis By Country, 2023 to 2033
Figure 51: East Asia Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 52: East Asia Market Attractiveness Analysis By Application, 2023 to 2033
Figure 53: South Asia & Oceania Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 54: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 55: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 56: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 57: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 58: South Asia & Oceania Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 59: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 60: South Asia & Oceania Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 61: South Asia & Oceania Market Attractiveness Analysis By Country, 2023 to 2033
Figure 62: South Asia & Oceania Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 63: South Asia & Oceania Market Attractiveness Analysis By Application, 2023 to 2033
Figure 64: MEA Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 65: MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 66: MEA Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 67: MEA Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 68: MEA Market Value (US$ million) and Volume (Tons) By Product Type, 2023 & 2033
Figure 69: MEA Market Y-o-Y Growth Rate By Product Type, 2023 to 2033
Figure 70: MEA Market Value (US$ million) and Volume (Tons) By Application, 2023 & 2033
Figure 71: MEA Market Y-o-Y Growth Rate By Application, 2023 to 2033
Figure 72: MEA Market Attractiveness Analysis By Country, 2023 to 2033
Figure 73: MEA Market Attractiveness Analysis By Product Type, 2023 to 2033
Figure 74: MEA Market Attractiveness Analysis By Application, 2023 to 2033
- FAQs -
What is the Global Microfiber Synthetic Leather Market Size?
The global microfiber synthetic leather market is anticipated to be valued at US$ 1.2 billion in 2023.
How will the Market Perform Over the Forecast Period?
During 2023 to 2033, sales of microfiber synthetic leather increased at 5.0% CAGR.
At What Rate Europe Market is Expected to Grow?
Europe market is anticipated to grow at a CAGR of 5.1% between 2023 to 2033.
Which Application Holds the Highest Market Share?
Clothing application is likely to hold the maximum market share in the microfiber synthetic leather market.
Which Country Will Grow at the Highest CAGR in the Microfiber Synthetic Leather market?
China is anticipated to grow at the highest CAGR of 5.6% in the forecast period.
Who are the Major Players in the Microfiber Synthetic Leather Market?
Ecolorica, Fujian Tianshou, Huafon Group, Meisheng Group, and Toray Group are some of the leading companies in the microfiber synthetic leather market.
Microfiber Synthetic Leather Market