IMARC Group has recently released a new research study titled, “High End Synthetic Suede Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the high end synthetic suede market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Market Performance:
The global high end synthetic suede market reached a value of US$ 1,066 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1,555 Million by 2028 exhibiting a CAGR of 6.2% during 2023-2028.
Year Considered to Estimate the Market:
Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028
High End Synthetic Suede Market Overview:
High end synthetic suede refers to a type of leather manufactured by using polyester and other plastic blends. These fabrics are brushed, sanded, or chemically treated to provide the look and feel of napped leather. High end synthetic suede is easy to sew, care for, and wear and does not peel, shrink, or crack. As compared to natural suede, it is cost-effective and environmentally friendly. In line with this, high end synthetic suede offers durability, needs minimal maintenance, is resistant to stains, water, and wind, etc. Consequently, it finds wide-ranging applications in various industries, including automotive, fashion, furniture, etc.
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High End Synthetic Suede Market Trends:
The escalating demand for lightweight materials, especially in steering-wheel covers, shift knobs, seat covers, etc., is primarily augmenting the high end synthetic suede market. Furthermore, the increasing popularity of sustainable fashion and the growing consumer environmental concerns are positively influencing the global market.
Apart from this, the launch of favorable policies by government bodies to create awareness regarding the potential hazards of leather is acting as another significant growth-inducing factor. Moreover, the widespread adoption of high end synthetic suede in clothing, shoes, accessories, furniture, and upholstery applications, owing to its high heat retention abilities and low stretchability, and the expanding automotive industry are further propelling the market growth.
Besides this, it is well suited to handle high-volume usage and resist spills and temperature variations while maintaining the shape and luxurious feel, which is also stimulating the market growth. Additionally, extensive investments in R&D activities by key market players are anticipated to fuel the high end synthetic suede market over the forecasted period.
| High End Synthetic Suede Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2022 | US$ 1,066 Million |
| Market forecast in 2028 | US$ 1,555 Million |
| Growth Rate | CAGR of 6.2% from 2023 to 2028 |
Market Segmentation:
The report has segmented the market on the basis of type, product, and application.
Type Insights
- Single-sided Leather
- Double-sided Leather
The report has also provided a detailed breakup and analysis of the high end synthetic suede market based on the type. This includes single leather and double-sided leather. According to the report, single-sided leather represented the largest segment.
Product Insights
- Woven
- Non-woven
A detailed breakup and analysis of the high end synthetic suede market based on the product has also been provided in the report. This includes woven and non-woven. According to the report, non-woven accounted for the largest market share.
Application Insights
- Automotive
- Fashion
- Furniture
- Others
The report has also provided a detailed breakup and analysis of the high end synthetic suede market based on the application. This includes automotive, fashion, furniture, and others. According to the report, automotive represented the largest segment.
Regional Insights
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Europe was the largest market for high end synthetic suede. Some of the factors driving the Europe high end synthetic suede market included its widespread adoption in the fashion industry, product innovations and extensive research and development activities, etc.
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Competitive Landscape With Key Players:
The competitive landscape of the high end synthetic suede market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ecolorica Microfiber S.r.l.
- Asahi Kasei Corporation
- Kolon Industries
- Toray Industries Inc.
- Talwar Fabriks
- WINIW International Co. Ltd.
- The Rishabh Velveleen Ltd
- Zhejiang Meisheng New Material Co. Ltd.
- The Mitchell Group
- Seiren Co. Ltd.
- Tapis Corporation
- Ji’an Sanling Microfiber Co. Ltd.
- Majilite Inc. (Meridian Industries Inc.)
Kindly note that this only represents a partial list of companies. The complete list has been provided in the report.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Key Highlights of the Report:
- Comprehensive Mapping of the Competitive Landscape
- Value Chain
- Porter’s Five Forces Analysis
- Impact of COVID-19
- Market Drivers and Success Factors
- Market Performance (2017-2022)
- SWOT Analysis
- Market Outlook (2023-2028)
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
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