Market Overview:
The global microfiber leather and synthetic suede market is expected to grow at a CAGR of 6.5% from 2018 to 2030. In terms of value, the market is estimated to be worth US$ 5,819.4 Mn by 2030 end. Microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market in 2018 and is expected to retain its dominant position during the forecast period. Synthetic suede held a share of 30% in the global microfiber leather and synthetic suede market in 2018 and is anticipated to register high growth rate during the forecast period owing to increasing demand from footwear industry across regions. Shoes & clothes are key applications for microfiber leathers & syntheticsuedes with demand being highest from this sector globally . The shoes & clothes segment held 39% share of the overall application segmentation in 2017andis projectedto register highest CAGR overthe forecast period (2018-2030).
Product Definition:
Microfiber leather is a synthetic material made up of extremely small fibers. It is often used in place of traditional leather because it is thinner, lighter and more durable. Microfiber leather can also be treated to be water resistant or even waterproof, making it a popular choice for outdoor gear and clothing.
Microfiber Leather:
Microfiber leather is a type of synthetic or artificial leather made up of fibers that are less than 0.3 millimeters in diameter. Microfibers are used to produce several types of fabrics such as apparel, footwear, household goods and automobile upholstery among others. The product has been gaining popularity due to its low cost and high functionality along with the ability to imitate the texture and appearance of natural leather without being tanned or treated like cattle hide.
Synthetic Suede:
Synthetic suede is a type of artificial leather made from synthetic fibers. It is also known as microfiber or faux leather. The product was developed in the early 1950s and has been used for various applications including upholstery, apparel, footwear, automotive interiors and exteriors along with other industries such as construction and consumer goods.
Application Insights:
The shoes and clothes application segment is expected to grow at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing use of microfiber leather in shoe lining, shoe construction, and as an exterior material for handbags and briefcases. In addition, the product finds applications in clothing including jackets, pants, vests, hats as well as footwear lining & soles among others owing to its high water repellence property.
Microfiber leather is widely used for automotive interior trim application on account of its superior softness and flexibility which enhances passenger comfort while driving or sitting position respectively.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market, expanding at a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing product demand in countries such as China and India. In 2016, China accounted for a share of 60% in terms of synthetic suede production and 80% in terms of microfiber leather production owing to low manufacturing cost coupled with easy availability of labor and raw materials respectively.
The shoes industry has witnessed significant growth over the past few years due to changing consumer preferences towards luxury lifestyle along with rising purchasing power especially among the middle-class population groups across emerging economies including China, Indonesia, Vietnam, Thailand etc., which is anticipated would have a positive impact on regional market development over the forecast period.
Europe was valued at USD X billion in 2017 owing high demand from major application sectors such as shoes & clothes (44%), furniture (20%) followed by automotive interior applications (13%).
Growth Factors:
- Increasing demand from automotive industry: The global automotive industry is expected to grow at a CAGR of 4.5% during the forecast period, which is expected to drive the demand for microfiber leather.
- Rising demand from furniture and interior decoration industry: The global furniture and interior decoration market is projected to grow at a CAGR of 5% during the forecast period, which is expected to boost the demand for microfiber leather products.
- Growing popularity of eco-friendly products: There has been an increase in awareness about environmental issues in recent years, which has led to an increase in demand for eco-friendly products such as microfiber leather.
- Technological advancements: The development of new technologies that can be used for manufacturing microfiber leather products is likely to fuel the growth of this market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Microfiber Leather Market Research Report
By Type
Microfiber Leather, Synthetic Suede, In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
By Application
Shoes & Clothes, Furniture, Automotive Trim, Case & Bag, Other, The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
By Companies
Huafon Group, Kuraray, TORAY, Hexin Group, Teijin Cordley, Asahi Kasei, Kolon Industries, Sanfang, Wanhua Micro Fiber, Meisheng Group, FILWEL, Sanling Micro Fiber, SISA, Ecolorica, Tongda Island, Topsun Micro Fiber, Seiren, Rishabh Velveleen, Wuxi Double Elephant
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Microfiber Leather Market Report Segments:
The global Microfiber Leather market is segmented on the basis of:
Types
Microfiber Leather, Synthetic Suede, In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Shoes & Clothes, Furniture, Automotive Trim, Case & Bag, Other, The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Huafon Group
- Kuraray
- TORAY
- Hexin Group
- Teijin Cordley
- Asahi Kasei
- Kolon Industries
- Sanfang
- Wanhua Micro Fiber
- Meisheng Group
- FILWEL
- Sanling Micro Fiber
- SISA
- Ecolorica
- Tongda Island
- Topsun Micro Fiber
- Seiren
- Rishabh Velveleen
- Wuxi Double Elephant
Highlights of The Microfiber Leather Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Microfiber Leather
- Synthetic Suede
- In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
- By Application:
- Shoes & Clothes
- Furniture
- Automotive Trim
- Case & Bag
- Other
- The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Microfiber Leather Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Microfiber leather is a type of synthetic leather that is made up of very small fibers. These fibers are so small that they can't be seen with the naked eye, but they are strong enough to create a durable surface. Microfiber leather is often used in products that need to be resistant to water and dirt, like wallets and purses.
Some of the major companies in the microfiber leather market are Huafon Group, Kuraray, TORAY, Hexin Group, Teijin Cordley, Asahi Kasei, Kolon Industries, Sanfang, Wanhua Micro Fiber, Meisheng Group, FILWEL, Sanling Micro Fiber, SISA, Ecolorica, Tongda Island, Topsun Micro Fiber, Seiren, Rishabh Velveleen, Wuxi Double Elephant.
The microfiber leather market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Microfiber Leather Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Microfiber Leather Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Microfiber Leather Market - Supply Chain
4.5. Global Microfiber Leather Market Forecast
4.5.1. Microfiber Leather Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Microfiber Leather Market Size (000 Units) and Y-o-Y Growth
4.5.3. Microfiber Leather Market Absolute $ Opportunity
5. Global Microfiber Leather Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Microfiber Leather Market Size and Volume Forecast by Type
5.3.1. Microfiber Leather
5.3.2. Synthetic Suede
5.3.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Microfiber Leather Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Microfiber Leather Market Size and Volume Forecast by Application
6.3.1. Shoes & Clothes
6.3.2. Furniture
6.3.3. Automotive Trim
6.3.4. Case & Bag
6.3.5. Other
6.3.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Microfiber Leather Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Microfiber Leather Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Microfiber Leather Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Microfiber Leather Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Microfiber Leather Demand Share Forecast, 2019-2026
9. North America Microfiber Leather Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Microfiber Leather Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Microfiber Leather Market Size and Volume Forecast by Application
9.4.1. Shoes & Clothes
9.4.2. Furniture
9.4.3. Automotive Trim
9.4.4. Case & Bag
9.4.5. Other
9.4.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Microfiber Leather Market Size and Volume Forecast by Type
9.7.1. Microfiber Leather
9.7.2. Synthetic Suede
9.7.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Microfiber Leather Demand Share Forecast, 2019-2026
10. Latin America Microfiber Leather Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Microfiber Leather Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Microfiber Leather Market Size and Volume Forecast by Application
10.4.1. Shoes & Clothes
10.4.2. Furniture
10.4.3. Automotive Trim
10.4.4. Case & Bag
10.4.5. Other
10.4.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Microfiber Leather Market Size and Volume Forecast by Type
10.7.1. Microfiber Leather
10.7.2. Synthetic Suede
10.7.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Microfiber Leather Demand Share Forecast, 2019-2026
11. Europe Microfiber Leather Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Microfiber Leather Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Microfiber Leather Market Size and Volume Forecast by Application
11.4.1. Shoes & Clothes
11.4.2. Furniture
11.4.3. Automotive Trim
11.4.4. Case & Bag
11.4.5. Other
11.4.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Microfiber Leather Market Size and Volume Forecast by Type
11.7.1 Microfiber Leather
11.7.2. Synthetic Suede
11.7.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Microfiber Leather Demand Share, 2019-2026
12. Asia Pacific Microfiber Leather Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Microfiber Leather Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Microfiber Leather Market Size and Volume Forecast by Application
12.4.1. Shoes & Clothes
12.4.2. Furniture
12.4.3. Automotive Trim
12.4.4. Case & Bag
12.4.5. Other
12.4.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Microfiber Leather Market Size and Volume Forecast by Type
12.7.1. Microfiber Leather
12.7.2. Synthetic Suede
12.7.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Microfiber Leather Demand Share, 2019-2026
13. Middle East & Africa Microfiber Leather Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Microfiber Leather Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Microfiber Leather Market Size and Volume Forecast by Application
13.4.1. Shoes & Clothes
13.4.2. Furniture
13.4.3. Automotive Trim
13.4.4. Case & Bag
13.4.5. Other
13.4.6. The shoes and clothes hold an important share in terms of applications, and accounts for 39% of the market share.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Microfiber Leather Market Size and Volume Forecast by Type
13.7.1. Microfiber Leather
13.7.2. Synthetic Suede
13.7.3. In 2018, microfiber leather accounted for a share of 70% in the global microfiber leather and synthetic suede market.
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Microfiber Leather Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Microfiber Leather Market: Market Share Analysis
14.2. Microfiber Leather Distributors and Customers
14.3. Microfiber Leather Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Huafon Group
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Kuraray
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TORAY
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hexin Group
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Teijin Cordley
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Asahi Kasei
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kolon Industries
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sanfang
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Wanhua Micro Fiber
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Meisheng Group
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. FILWEL
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Sanling Micro Fiber
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. SISA
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Ecolorica
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Tongda Island
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Topsun Micro Fiber
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Seiren
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Rishabh Velveleen
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Wuxi Double Elephant
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2.&
