Microfiber synthetic leather is a high-quality synthetic leather that is made from nylon and polyurethane (PU) resins. This synthetic is used in a wide variety of end use industries, including apparel, footwear, and automotive. It is the best eco-friendly alternative to real leather and can match or outperform it in many categories. It is a third-generation synthetic, which means it's the most modern and highest-quality artificial leather available.

Market Dynamics:

The global microfiber synthetic leather market is projected to witness a positive growth in the coming years. This growth is attributed to the rising disposable income and changing consumer lifestyles. Furthermore, the market is also expected to grow owing to the growing demand for cleaning cloths. The rise in the apparel industry will also help the microfiber synthetic leather market to gain substantial market share during this projected period. Additionally, technological advancements in the furniture industry is expected to create opportunities for the microfiber synthetic leather market players in the near future.

On the other hand, high manufacturing cost is expected to hinder the market growth.

Key features of the study:

• This report provides in-depth analysis of the global microfiber synthetic leather market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global microfiber synthetic leather market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Toray Industries, Inc., Kuraray Co. Ltd., E-Leather Ltd., Mayur Uniquoters Ltd., Zhejiang Hexin Industry Group Co., Ltd., Yantai Wanhua Synthetic Leather Group Co., Ltd., Clarino (Asahi Kasei Corporation), San Fang Chemical Industry Co. Ltd., Anhui Anli Material Technology Co. Ltd., and Nan Ya Plastics Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global microfiber synthetic leather market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global microfiber synthetic leather market

Detailed Segmentation:

• Global Microfiber Synthetic Leather Market, By Product Type
  • Polyurethane (PU) microfiber synthetic leather
  • Polyamide (PA) microfiber synthetic leather
  • Microfiber suede
• Global Microfiber Synthetic Leather Market, By Application
  • Automotive
  • Fashion and accessories
  • Furniture and upholstery
  • Sports and leisure
  • Others (such as aviation, marine, and healthcare)
• Global Microfiber Synthetic Leather Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  
  • Toray Industries, Inc.
  • Kuraray Co. Ltd.
  • E-Leather Ltd.
  • Mayur Uniquoters Ltd.
  • Zhejiang Hexin Industry Group Co., Ltd.
  • Yantai Wanhua Synthetic Leather Group Co., Ltd.
  • Clarino (Asahi Kasei Corporation)
  • San Fang Chemical Industry Co. Ltd.
  • Anhui Anli Material Technology Co. Ltd.
  • Nan Ya Plastics Corporation