Europe Synthetic Leather Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Polyurethane, Polyvinyl Chloride, Silicone, and Others) and Application (Footwear, Furniture, Automotive, Clothing, Stationery Goods, and Others) 

Europe Synthetic Leather Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Polyurethane, Polyvinyl Chloride, Silicone, and Others) and Application (Footwear, Furniture, Automotive, Clothing, Stationery Goods, and Others) 

The synthetic leather market in Europe is expected to grow from US$ 5,914.40 million in 2021 to US$ 9,123.76 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Synthetic leather is extremely popular these days. It is used in various industries, such as footwear, clothing, furniture, and automotive. The most common use of synthetic leather is in clothing, luggage, and cases. There is increasing use of synthetic leather in jackets, coats, handbags, purses, and belts. In the footwear industry, synthetic leather is frequently used in shoes due to its low cost, abrasion resistance, and water resistance. Synthetic leather has become popular for furniture items. The leather is used for upholstery purposes, such as covering chairs, lining the tops of writing desks and tables. It is commonly used in sofas, chairs, and headboards. As synthetic leather is available in various colors, styles, textures, and patterns, it is increasingly used in decorating residential or commercial interiors. This is further fueling the growth of the synthetic leather market. Synthetic leather is used in the automotive industry, especially in making automotive interiors. It is used for car seating as it helps in cost reduction. The demand for automotive interior materials is increasing with the growing automotive industry. Hence, the increase in demand for synthetic leather from various end-use industries such as footwear, furnishing, clothing, and automotive is driving the synthetic leather market in Europe.

The polyurethane segment led the Europe synthetic leather market, based on type, in 2020. Polyurethane-based leather is created by coating a fabric such as polyester or cotton with a flexible polymer. It is then treated by various processes to make it look like real leather. Polyurethane-based leather is waterproof, lightweight, and soft. It does not fade or crack when exposed to sunlight. This synthetic leather does not require additional plasticizers as it is made by using soft polymers. Polyurethane upholstery is the realistic imitation of genuine leather in terms of surface feel and overall appearance. There is a high demand for polyurethane-based leather in the automotive and clothing industries.

In Europe, currently, France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The massive outbreak of the pandemic has created a temporary distortion in operation efficiencies of industrial bases in the European market. The market for synthetic leather has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. The industries such as footwear and automotive have been affected by the pandemic. However, the various industries are resuming their operations, including the automotive industry. The rising demand for synthetic leather across diverse industrial applications is expected to substantially fuel the growth of the synthetic leather market in the region.

The overall Europe synthetic leather market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the Europe synthetic leather market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe synthetic leather market. Alfatex Italia; BASF SE; Fujian Polytech Technology Corp., Ltd.; H.R.Polycoats Pvt. Ltd.; KURARAY CO., LTD.; Mayur Uniquoters Limited; Nan Ya Plastics; San Fang Chemical Industry Co., Ltd; and Teijin Limited are among the players operating in the market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe synthetic leather market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe synthetic leather market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the synthetic leather market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution