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Japan Synthetic Leather Market Analysis by Product Type {Polyurethane [PU] (Thermoplastic Polyurethane [TPU], and Polyurethane Resin), and Polyvinyl Chloride [PVC]}; by End-User {Footwear (Performance Footwear, and others), Furnishing (Couches & Sofas, and Chairs), Interior (Interior Décor & Surfacing, and others), Automobile (Seat, Door, and Others), Sporting Goods, Garments (Fashion Apparel, and others), and others} – Japan Supply & Demand Analysis & Opportunity Outlook 2021 – 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • September 8, 2021: The Teijin Frontier Group's premium artificial leather company, Teijin Limited, stated today that it has created a novel antibacterial and antiviral artificial leather with long-lasting antibacterial properties.

  • March 2, 2022: Toray Industries, Inc. today announced the development of a high-strength textile using Toyoflon, a low-friction polytetrafluoroethylene (PTFE) fibre. Fluoropolymers' exceptional friction resistance is retained in the new textile. In testing conducted by Toray, it was discovered that the slide's durability was 25 times greater than that of its existing counterparts, with friction decreasing by more than 50%.

Japan Synthetic Leather Market Size, Forecast, and Trend Highlights Over 2021 – 2031

Base Year

2021

Forecast Year

2022-2031

CAGR

7.9%

Base Year Market Size (2021)

USD 1,004.1 Million

Forecast Year Market Size (2031)

USD 2,137.8 Million

The Japan synthetic leather market is estimated to garner a revenue of USD 2,137.8 Million by the end of 2031 by growing at a CAGR of 7.9% over the forecast period, i.e., 2022 - 2031. Further, the market generated a revenue of USD 1,004.1 Million in the year 2021. The growth of the market can be attributed to growing demand for athletic shoes. Further, people are becoming more enthusiastic toward sports. According to the Yano Research report, Japan's interest in sports was anticipated to increase between 2019 and 2020, in large part because of the upcoming international sporting events.

Japan Synthetic Leather Market

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Also, the participation of people into sports and other physical activities is growing which is also expected to boost the growth of the market over the forecast period. Teenagers (18–19), of both sexes, made up the largest age group of participants in sports. On the other hand, the majority of those who played sports twice a week or more belonged to the 70 years or older age group, demonstrating the desire of many to maintain their physical fitness.

Japan Synthetic Leather Market: Growth Drivers and Challenges

Growth Drivers

  • Stringent Regulations Regarding Animal Cruelty and Slaughtering - According to the Act on Welfare and Management of Animals (1973), abandonment and cruelty through neglect are both punishable by fines, whereas killing or wounding an animal in a protected category carries a fine or a sentence of up to one year in jail. The anti-cruelty and duty of care regulations cover all agricultural animals, with the exception of fish. Although suitable methods are not specified and stunning is not necessary, slaughters are necessary to reduce pain and misery. Owing to the regulation imposed in Japan more preference ins given to synthetic leather as it involves no harming and slaughtering of animals. They are usually made from plant-based material, and more. Hence this factor is expected to drive the growth of the market in Japan.

  • Shift from Natural Leather to Synthetic Leather - Adidas x Stella McCartney invented the first vegan sneakers, and Nike and Hugo Boss used Pinatex, a natural leather alternative made from pineapple leaf fibres, in some of their collections prior to the pandemic outbreak. Fashion players have long used leather substitutes for their bags, luggage, and footwear products.

  • Increase in Vegan Population - There are approximately, 2 Million vegans in Japan.  According to a TPC Bibliotheque survey, sales of vegan products have climbed by about 16%. 

  • Technology Development by Various Key Players - In an effort to break new ground in the development of a sustainable leather substitute that can be used for shoes, apparel, accessories, and more, Bucha Bio introduced plant-based leather that is totally produced in a lab.

  • Surge in Usage of Synthetic Leather in Automobile Industry - Instead of actual leather, the seats in Mazda's brand-new "MX-30" electric vehicle will be made of imitation leather. The leather on the steering wheel and gear selector could also be replaced, according to the company.

Challenges

  • Harmful Effect of PU and PVC
  • Growing Environmental Concerns
  • Availability of Alternatives

Raw materials for synthetic leather including polyurethane (PU) and polyvinyl chloride (PVC) are harmful to the environment, the health of people and animals. As an isocyanate, PU has the potential to injure the lungs by triggering asthma attacks and irritating the airways. It also causes skin irritation and makes breathing challenging owing to a lung infection. Hence owing to all these consequences this factors is expected to hinder the growth of the market in Japan.

The Japan synthetic leather market is segmented and analysed for demand and supply by product type into polyurethane (PU), and polyvinyl chloride (PVC). Out of which, polyvinyl chloride (PVC) segment is anticipated to garner the highest revenue of USD 1,231.1 Million by the end of 2031, up from a revenue of USD 565.2 Million in the year 2021. Further, the segment is anticipated to grow at a highest CAGR of 8.2% over the forecast period, backed by its increasing popularity in commercial industry. Approximately 1 million tonnes of polyvinyl chloride were produced in Japan in 2020. They are extensively used in manufacturing footwear. Moreover, they are also used for furniture upholstery, transportation seating, and more.

Market Segmentation

Our in-depth analysis of the Japan synthetic leather market includes the following segments:

By Product Type

  • Polyurethane (PU)
    • Thermoplastic Polyurethane (TPU)
    • Polyurethane Resin
  • Polyvinyl Chloride (PVC)

By End-User

  • Footwear
    • Performance Footwear
    • Fashion Footwear
  • Furnishing
    • Couches & Sofas
    • Chairs
  • Interior
    • Interior Décor & Surfacing
    • Wall Tiles
  • Automobile
    • Seat
    • Door
    • Dashboard
    • Luggage
    • Wallets
  • Others

Key Companies Dominating the Japan Synthetic Leather Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Japan synthetic leather market that are included in our report are Asahi Kasei Corporation, Kuraray Co. Ltd., San Fang Chemical Industry Co., Ltd., Achilles Corporation, Teijin Limited, Nan Ya Plastics Corporation, AIR WATER INC., H.R.Polycoats Pvt. Ltd., Alfatex Italia SRL, Zhejiang Hexin Holdings Ltd., Toray Industries, Inc., Mayur Uniquoters Limited, and Fujian Polytech Technology Corp., Ltd., Ultrafabrics Holdings Co., Ltd., SEIREN Co. Ltd., and, KYOWA Leather Cloth Co., Ltd.

FREQUENTLY ASKED QUESTIONS

Japan Synthetic Leather Market TOC

  1. Market Definition and Segmentation
  2. Assumptions and Research Methodology
    1. Assumptions and Acronyms
    2. Research Objective
    3. Research Methodology
  3. Executive Summary
  4. Market Dynamics
    1. Market Drivers
    2. Market Restraints
    3. Market Opportunities
    4. Market Trends
  5. Porter’s Five Forces Analysis
  6. Supply Chain Analysis
  7. Japan Import and Export Analysis of Synthetic Leather, 2021
  8. Japan Synthetic Leather Market Pricing Analysis, 2021-2031
    1. Japan Synthetic Leather Market Pricing Analysis, By Product Type, USD/Ton
  9. End Use Industry Outlook
  10. Japan Synthetic Leather Market Volume (Kilo Tons) And Value (USD Mn) Analysis,
    1. Key Findings and Introduction
    2.  Japan Synthetic Leather Market Volume (Kilo Tons) And Value (USD Mn) Forecast, By Product Type, 2021-2031
      1. Polyurethane (PU)
        1. Thermoplastic Polyurethane (TPU)
        2. Polyurethane Resin
      2. Polyvinyl Chloride (PVC)
    3. Japan Synthetic Leather Market Volume (Kilo Tons) And Value (USD Mn) Analysis & Forecast, By End-User, 2021-2031
      1. Footwear
        1. Performance Footwear
        2. Fashion Footwear
      2. Furnishing
        1. Couches & Sofas
        2. Chairs
      3. Interior
        1. Interior Décor & Surfacing
        2. Wall Tiles
      4. Automobile
        1. Seat
        2. Door
        3. Dashboard
        4. Steering Cover
        5. Others
      5. Sporting Goods
      6. Garments
        1. Fashion Apparel - Jackets, Trousers
        2. Fashion Accessories - Belts, Gloves
        3. Performance Apparel
      7. Luxury Goods
        1. Hard Luxury
          1. Jewelry
          2. Watchstraps
        2. Soft Luxury
          1. Handbags
          2. Luggage
          3. Wallets
      8. Others
  11. Competition Landscape
    1. Japanese Company Profiles
      1. Asahi Kasei Corporation
      2. Kuraray Co., Ltd
      3. San Fang Chemical Industry Co., Ltd.
      4. Achilles Corporation
      5. Teijin Limited
      6. Nan Ya Plastics Corporation
      7. AIR WATER, Inc.
      8. H.R.Polycoats Pvt. Ltd.
      9. Alfatex Italia SRL
      10. Zhejiang Hexin Holdings Ltd.
      11. Toray Industries, Inc.
      12. Mayur Uniquoters Limited
      13. Fujian Polytech Technology Corp., Ltd.
      14. Ultrafabrics Holdings Co. Ltd.
      15. SEIREN Co. Ltd.
      16. KYOWA Leather Cloth Co., Ltd.

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