Coating Agents for Synthetic Leather Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Resin Type (PU, PVC, Silicone, and Other Resin Types), Application (Automotive, Furniture & Domestic Upholstery, Footwear, Textile & Fashion, Transportation, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

7 %

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Market Overview

The global coating agents for synthetic leather market is estimated to witness a healthy growth, at an estimated CAGR of over 7%, over the forecast period. The major factor driving the growth of the market studied is PETA regulations limiting the usage of natural leather. 

  • By application, automotive industry dominates the market. It is also expected to be the fastest growing segment in terms of revenue.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.

Scope of the report

The global coating agents for synthetic leather market report includes:

Resin Type
PU
PVC
Silicone
Other Resin Types
Application
Automotive
Furniture & Domestic Upholstery
Footwear
Textile & Fashion
Transportation
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Usage in the Furniture & Domestic Upholstery Applications

  • Coating agents, when added to various resin systems, offer superior dispersing ability, high matting efficiency, and high transparency. Owing to such features, they are used widely in the furniture & domestic upholstery industry. Polyurethane- and polyvinyl chloride (PVC)-based systems are mostly used in the furniture & domestic upholstery industry.
  • The global furniture & domestic upholstery industry is growing at a significant rate, owing to increasing disposable income and a growing construction industry.
  • According to Furniture Today, an online furniture news source, furniture sales in the United States is expected to reach USD 122 billion by 2020, growing at an average rate of around 3% every year. According to the CIT Group, the furniture industry in the country is expected to outpace the economy’s growth, primarily due to high sales in the bedroom and dining room furnishing departments.
  • Such positive growth in the furniture & domestic upholstery industry is expected to drive the market for coatings agent in synthetic leather during the forecast period.

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific held the highest market share, accounting for more than 50% of the market. China is the largest synthetic leather market in Asia-Pacific, owing to robust growth in the automotive and footwear end-user industries in the country.
  • China is the largest automotive market in the world. The automotive industry in China is mainly driven by domestic market demand.
  • Environmental regulations in China is stiff nowadays. However, they have had minimal impact on the automotive market, owing to increasing domestic demand. A slow but positive growth of 3% in the auto market is an evident example of the growing Chinese auto sector.
  • The footwear industry in China is enjoying its perk of being globally the largest producer and consumer of footwear, partly due to the largest market size and rising standard of living in the country.
  • The athletic footwear end-user segment has witnessed steady growth over the past five years, owing to changing fashion trends and shifting consumer preference toward popular brands.
  • Additionally, the textile industry in the country has witnessed an increase in the demand for leather, owing to the rapid population expansion. The demand for synthetic leather from the textile industry is expected to grow.
  • Therefore, considering the aforementioned factors, the demand for coating agent in synthetic leather is expected to increase significantly in the region during the forecast period.

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Competitive Landscape

The global coating agents for synthetic leather market is a highly fragmented with a large number of small and medium players being predominant around the world. Key players in the market include Stahl Group, LANXESS, Evonik Industries AG, and Covestro AG, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 PETA Regulations limits Usage of Natural Leather

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 PU

      2. 5.1.2 PVC

      3. 5.1.3 Silicone

      4. 5.1.4 Other Resin Types

    2. 5.2 Application

      1. 5.2.1 Automotive

      2. 5.2.2 Furniture & Domestic Upholstery

      3. 5.2.3 Footwear

      4. 5.2.4 Textile & Fashion

      5. 5.2.5 Transportation

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ABHILASH CHEMICALS AND PHARMACEUTICALS PVT. LTD.

      2. 6.4.2 CHT Group

      3. 6.4.3 Covestro AG

      4. 6.4.4 Ellkem Silicones

      5. 6.4.5 Evonik Industries AG

      6. 6.4.6 Jasch Industries Limited

      7. 6.4.7 Lantan

      8. 6.4.8 Papertex Specility Chemicals Pvt. Ltd.

      9. 6.4.9 LANXESS

      10. 6.4.10 ROWA GROUP Holding GmbH

      11. 6.4.11 Stahl Group

      12. 6.4.12 W. R. Grace & Co.-Conn.

      13. 6.4.13 Wacker Chemie AG

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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