China's Artificial Leather And Synthetic Leather Industry Accounts For 80% Of The Global Market Share

In recent years, my country's synthetic leather industry has been facing a serious overcapacity situation, and product competition is very fierce. In particular, ordinary PVC leather and PU leather products have almost no profit. On the other hand, the annual growth rate of microfiber leather, functional products, and high-property synthetic leather products exceeds 20%, and the profit margin is far higher than that of ordinary synthetic leather products. It can be seen that the continuous innovation of products has put forward higher requirements for the development of the industry.
After more than 50 years of development, China's artificial leather and synthetic leather industry has now developed to a point where its output accounts for 80% of the global market share. However, from the comparison of import and export data, the import and export price gap is 2 times, and more products are simply repetitively produced, and the product grade cannot be improved. There is still a big gap in high-property, functional products, microfiber and other products, and there is still a certain gap compared with the world-class level. In the face of an era of increasingly fierce competition, enterprises need to improve quality from the perspective of technology improvement and transformation and upgrading, and develop new functional and high-property synthetic leather varieties.