Synthetic Leather Market Trends

Growth Drivers

• Increasing demand from the footwear sector - With prospects for expansion, the footwear industry is currently the main user of synthetic leather.
  
  The strong demand for modern, fashionable footwear brands and the increase in urbanization are the main factors driving this market expansion. As per our survey, the total spending on clothing, and footwear by the consumer is estimated to reach more than USD 2.5 trillion in the year 2029.
• Concentrate on creating synthetic leather-based on biomaterials - The emergence of synthetic leather derived from biotechnology presents a sustainable substitute that lacks any detrimental characteristics.
  
  Commercializing synthetic leather made from natural fibers like cotton, flax, and blends with plants like corn, soybean, and palm should be a top priority for manufacturers. Growing political and environmental restrictions against harmful chemicals in North America and the European Union make biobased synthetic leather a potentially lucrative market for the sector.
• Sales of bio-based synthetic leather impacting the growth of the market as a whole - For the purpose of making shoes and purses, producers are switching from using real leather to bio-based or vegan synthetic leather due to growing demand and stringent international laws intended to prevent animal abuse. Furthermore, research has produced environmentally friendly and vegan leather.

Challenges

• Detrimental effects of PVC and PU on people - Synthetic (PU) and polyvinyl chloride (PVC), two basic ingredients used in the manufacturing of synthetic leather, are extremely hazardous to human health and the environment. The isocyanate PU has the potential to be harmful to the environment, human health, and animal health.
  
  It can cause skin irritation, respiratory difficulties, lung irritation, and asthma attacks, especially among workers at PU manufacturing facilities exposed to its vapors. Conversely, dioxin, phthalates, and vinyl chloride monomer are among the harmful carcinogens found in PVC. Particularly hazardous compounds generated during the burning of PVC and other plastics containing chlorine include dioxin. The synthetic leather business faces significant obstacles due to the hazardous properties of PVC and PU.
   
• Synthetic is criticized for being non-biodegradable and for having an environmental impact that is high in carbon.
   
• The presence of alternatives in the market may impede market growth.