Europe Synthetic Leather Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report states that the synthetic leather market in Europe will display a compound annual growth rate of 7.23% in revenue and 6.99% in volume during 2023-2030. Germany, Italy, the United Kingdom, Spain, France, and the Rest of Europe are considered in the region.
In the UK, the synthetic leather market is driven by the rising need for leather to produce bags, shoes, and other goods. There is a high demand for eco-friendly and sustainable leather over animal-based, which has elevated market scope to a large extent. In this regard, PU leather delivers the same texture as original leather while being lightweight, affordable, and strong. Stringent animal laws are another factor driving the synthetic leather market on a growth path.
Strong innovation capability and rising fashion consciousness have supported the market’s growth in Italy. The changing consumer demand and fashion trends have influenced manufacturers to diversify product offerings to meet the demand. Further, the nation is among the top footwear producers, ranking 12th in the region. With economic improvement and growing purchasing power, the footwear industry is anticipated to witness tremendous growth, creating opportunities for the synthetic leather market.
COMPETITIVE OUTLOOK
The major companies in the synthetic leather market are Achilles USA Inc, Teijin Limited, Mayur Uniquoters Limited, and Sang Fang Chemical Industry Co Ltd.
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