With rising ethical and cost-related concerns for the use of natural leather, many manufacturers now prefer using synthetic leather. In fact, the synthetic leather market is estimated to reach US$136.7 billion by 2022.
Where is it coming from?
Demand is increasing from various industries. This notably comes from end users who mostly apply the material for sports shoes, handbags, furniture, automobile interior and other sports goods. This includes end users from countries with most amount of consumers, including USA, Germany, France, China, Southeast Asia and Brazil.
What’s most popular?
Among the many types it comes in, PVC and PU are the most wanted. This is reflected in the rank of most demanded synthetic leather materials, which are (in order of demand) PVC, Normal PU, Microfiber PU and Ecological Function PU.
No surprise here because of the various advantages including cost efficiency, durability and variety. This also applies to both PU and PVC leather. The use of PU and PVC leather in upholstery, fashion pieces and other products are not solely for cost efficiency. The rising demand also comes from the added values brought. Learn more about PU and PVC leather here.
And it really is taking over the world
Global demand is increasing with a rate of 6.9% during the forecasted period of 2017-2022. This is why the market valuation is predicted to reach US$136.7 billion by 2022. Out of the countries mentioned above, the automobile industry is leading the chart holding 40% of global synthetic leather demand. Additionally, Asia Pacific is the most vastly growing region for synthetic leather market, due to increasing population from China, India, Vietnam and Thailand.