Synthetic Leather Market Trends, Business Overview, Key Players, Demand and Forecast to 2028

By Sachin Pashte  | Date: January 06, 2023

Synthetic Leather Market Trends, Business Overview, Key Players, Demand and Forecast to 2028

The size of global Synthetic Leather Market was worth USD 6,117.4 million in 2021 and is anticipated to expand with a CAGR of 1.1% during the forecast period to accrue USD 6,604.3 million by the year 2028.

Readers can learn about the growth-promoting as well as hindering characteristics of the industry from the most recent report of ‘Global Synthetic Leather Market.’ Between the projected period of 2022 and 2028, experts estimate this industry to generate large profits.

To accurately depict the state of the market today, the study assesses a number of industrial sub-segments with a focus on geographic division, type, and application. Then, in the section that follows, there are a few crucial elements that, during the analysis time, altered market dynamics and generated a sizeable profit. The article examines the sector's geographic organization as well as the tactics employed by the key rivals to hold onto market share.

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COVID-19 impact:

Global synthetic leather market has been considerably impacted by the coronavirus's effects over the past few years. This effect has been felt everywhere due to travel restrictions, quarantines, restaurant closures, aircraft cancellations, and limitations on all indoor & outdoor activities. The COVID-19 outbreak also resulted in the declaration of states of emergency in more than 40 countries, a significant disruption of the stock market & supply chain, a decline in investor confidence, an increase in public dread, and future apprehension.

Despite this, with successful vaccination drives, the markets have picked up pace and are likely to foresee positive outcomes in the near future.

Competitive Analysis:

Competitive analysis looks at the market share leaders' strengths, sales volume, weaknesses, and trends. The analysis of global synthetic leather market included all main, secondary, and tertiary level competitors, and the assessment focuses on the leading enterprises' sales volume, revenue share, and trends including those of Wenzhou Hongdeli Synthetic Leather Co., Ltd., Sanling Microfiber Co., Ltd.,  Fujian Huayang Microfiber Co., Ltd., Zhejiang Meisheng Industrial Co., Ltd., Xiamen Hongxin Microfibre Materials Co.,Ltd. Wenzhou Huanghe Ultra Fine Fiber Co. Ltd., Huafon Group Co., Ltd., Kunshan Xiefu New Material Co., Ltd., Zhejiang Hexin Industry Group Company Limited, Shandong Tongda Textile Machinery (group) Co., Ltd., Wanhua Chemical Group Co., Ltd., Shandong Jinfeng Artificial Leather Co. Ltd., Tianshou(Fujian) Microfiber Technology Co., Ltd., Anhui Anli Material Technology Co., Ltd., Wenzhou Imitation Leather Co.,Ltd., Nanya Technology, San Fang Chemical Industrial Co Ltd., Kolon Industries, Filwel Co., Ltd., DAEWON Chemical Co., Ltd., Duksung Co., Ltd., Asahi Kasei Corporation, Wangkang Holding Group Co. Ltd., Shandong Friendship, Bayer AG, Teijin Limited, Toray Industries, Inc., and Kuraray Co., Ltd.

Segmentation & Regional Overview:

On the basis of type, global synthetic leather market is branched into ecological function PU, microfiber PU, normal PU, and PVC. Based on application spectrum, the business sphere is categorized into sports goods, car interiors, furniture, bags, and sport shoes.

Concerning the regional terrain, the industry spans across Middle East & Africa (Africa, Saudi Arabia, UAE, Iran, Turkey, rest of MEA), Asia-Pacific (India, New Zealand, China, Singapore, Japan, Australia, rest of APAC), North America (Canada, U.S., Mexico), South America (Brazil, Argentina, rest of SA), and Europe (U.K., Germany, Italy, Russia, France, Spain, rest of Europe.)

FAQs:

Which are the leading players in the global synthetic leather market?

What are the trends that will influence global synthetic leather market in the next few years?

What are the driving factors, restraints, and opportunities of global synthetic leather market?

What are the projections that would help in taking further strategic steps for global synthetic leather market?

Which are the top geographies driving demand in global synthetic leather market?

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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