Printed Leather Market To Reach Valuation Of US$ 500 Mn By 2031 January 20, 2022
Transparency Market Research delivers key insights on the global printed leather market. In terms of revenue, the global printed leather market is estimated to expand
at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global printed leather market report.
In this market report, TMR predicts that the global printed leather market would be largely driven by factors such as rising demand for synthetic printed leather in automotive interior materials across the world. Moreover, higher durability as compared to traditional leather is expected to boost the demand for printed leather in the upcoming years.
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The printed leather market report covers leather type, leather category, and product category. In terms of leather type, the printed leather market has been segmented into real leather and synthetic leather; the leather category segment of the printed leather market has also been classified into real leather and synthetic leather; the product category of the printed leather market comprises clothing, homeware, accessories, and others. Based on leather type, real leather accounted for a major share of the market. However, advancements in the synthetic leather manufacturing technology is driving consumers to purchase synthetic leather goods.
The soaring demand for synthetic or faux leather is driven by a range of factors, including evolving consumer trends, mounting concerns about the impact of real leather on the environment, rising demand for animal-free products, and growing awareness regarding the attributes of synthetic leather.
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Footwear, a sub-segment of the clothing segment, held moderate share of the printed leather market. Items made of real leather are soft, lightweight, rich in looks, and durable compared to synthetic leather, leading to moderate demand from end consumers of the clothing segment. Real leather provides an ethnic look and luxurious feel, thus influencing the choice of buyers. Changing fashion trends and influence of social media are the key factors responsible for the rise in demand for finished leather in the footwear industry. The demand for real leather is expected to be high in the automotive segment.
Animal cruelty regulations and policies across the world are playing a critical role in boosting the prospects of the synthetic leather market, as more consumers are inclined toward purchasing products that are animal-free. Over the past few years, the prices of real leather have increased consistently worldwide, which, in turn, has propelled the demand for cost-effective alternatives such as synthetic leather.
Printed Leather Market: Prominent Regions
Presently, the printed leather market in Asia Pacific is expected to expand at a fastpaced CAGR due to the significant growth in footwear and automobile industries in China and India. In recent years, Asia Pacific witnessed increase in per capita income and purchasing power in countries such as China and India, which resulted in high demand for leather products. The leather market size in Asia Pacific was valued at
US$ 123.1 Bn in 2019 and is expected to expand at a CAGR of 7.3% during the forecast period, in terms of value.
In North America, stringent rules and regulations by governments about carbon footprint and waste disposal are key reasons that are expected to marginally hamper the printed leather market. Moreover, companies from developed countries are moving to developing countries due to lower labor and investment cost as well as the flexible rules and regulations. Companies from the U.S. and Canada are trying to develop finished leather in a laboratory by using single animal cell. In this technology, no animals are harmed in the process, as the complete skin of the animal is produced in the lab. Hence, the demand for synthetic leather is projected to rise during the forecast period.
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Printed Leather Market: Key Players
The competition landscape of the printed leather market is moderately fragmented with leading players accounting for the majority of the revenue share. Key players operating in the global printed leather market include Agfa-Gevaert Group, Leather Hunte Pvt. Ltd., CMYKING, Bags Of Love, Contrado Imaging Ltd., MAHI Leather, Rainbow Leather, Negma Leather, Inc., Agile, and Leathergenix.
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