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Increasing demand from footwear and automotive sectors & the need to replace natural leather, as synthetic leather is far less hazardous than natural leather

VANCOUVER, BC, CANADA, November 7, 2022 /EINPresswire.com/ -- The Global Synthetic Leather Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Synthetic Leather Market studies the market scenario to offer growth projections for the Synthetic Leather industry for the forecast period of 2021-2028. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline. The report pays special heed to the emerging business components, niche sectors, and product launches and brand promotions occurring in the market to help the readers make fruitful investment strategies. The report covers a comprehensive impact analysis of the global health crisis on the overall growth of the market.

The global synthetic leather market is expected to reach a market size of USD 80.20 Billion in 2028 and register a CAGR of 4.0% during the forecast period, according to the latest analysis by Emergen Research. The projected growth figures are attributed to increasing demand from the automotive and fashion industry and the need to replace natural leather, as synthetic leather is far less hazardous than natural leather when it comes to global warming and resource depletion. Furthermore, synthetic leather is less expensive and more durable than natural leather, which has further contributed to its growth. The rise in awareness owing to animal safety coupled with the high market price of natural leather and insufficient supplies have positively influenced the synthetic leather market size. Synthetic leather is used in footwear, bags, wallets, clothing, automotive, electronics, and furnishing products. Changing consumer lifestyles and increasing sustainable fashion trends may favor the market’s growth. Synthetic leather consists of natural or synthetic fibers coated with plastic polymers, generally made from polyurethane and polyvinylchloride. Over the years, manufacturers have switched to synthetic leather as synthetic leather is cheaper to manufacture, durable, and can be made into a variety of styles and colors. The synthetic or artificial leather doesn’t absorb water, making it easier to clean and better in terms of sustainability as it requires fewer resources to make. All these factors are expected to drive the market\'s growth during the forecast period.

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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.

Key companies operating in the Synthetic Leather market include:

H.R. Polycoats Pvt. Ltd., Kuraray Co., Ltd., Teijin Limited, Zhejiang Hexin Industry Group Co., Ltd., Alfatex N.V., San Fang Chemical Industry Co., Ltd., Filwel Co.,  Ltd., Yantai Wanhua Synthetic Leather Group Co., Ltd., BASF SE, Mayur Uniquoters Limited

The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.

The global Synthetic Leather market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Synthetic Leather market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

The Global Synthetic Leather Report is a panoramic study of the overall Synthetic Leather market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Synthetic Leather market. The report provides a detailed analysis of the key factors of the Synthetic Leather market that are expected to have a positive impact on the growth of the Synthetic Leather industry.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8-year analysis of the Global Synthetic Leather Market

Critical understanding of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Synthetic Leather industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

Type Outlook (Revenue, USD Billion; 2021–2028)
Polyurethane (PU)

Polyvinyl Chloride (PVC)

Bio-Based

Application Outlook (Revenue, USD Billion; 2021-2028)
Footwear

Clothing

Automotive

Bags

Purses & Wallets

Furnishing

Sports

Electronics

Regional Outlook (Revenue, USD Billion; 2021–2028)
North America

US

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

BENELUX

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

Key Questions Addressed in the Report:

Who are the leading players in the Synthetic Leather industry?

Which region is expected to dominate the market in the coming years?

What are the key applications of Synthetic Leather?

Which segment is expected to garner traction during the coming years?

What are the key strategies adopted by leading players in the market?

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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

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