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Title: Demand for Bio-based Products Drive Synthetic Leather Market


1
Demand for Bio-based Products Drive Synthetic
Leather Market Triton Market Research presents
the Global Synthetic Leather Market report
segmented by Type (Polyurethane PU, Polyvinyl
Chloride PVC, Bio-based), End-use (Footwear,
Automotive, Clothing, Furnishing, Bags Wallets,
Other End-uses), and Regional Outlook (Middle
East and Africa, North America, Asia-Pacific,
Europe, Latin America). The report further
includes the Market Summary, Industry Outlook,
Parent Market Overview, Manufacturing Process
Overview, Impact Analysis, Key Insights, Porters
Five Forces Analysis, Market Maturity Analysis,
Industry Components, Key Buying Impact Analysis,
Regulatory Framework, Key Market Strategies,
Drivers, Challenges, Opportunities, Analyst
Perspective, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2023-2030).
Request Free Sample Report https//www.tritonmark
etresearch.com/reports/synthetic-leather-marketre
quest-free- sample Based on Tritons research
report, the global synthetic leather market is
deemed to witness revenue and volume growth at a
CAGR of 7.48 and 7.26, respectively, during the
forecast period 2023-2030. Synthetic leather is
also known as faux or vegan leather resembling an
animals skin. This material is formed by
encasing natural or synthetic fibers in a plastic
polymer or similar substance.
2
Several bio-based materials are employed for the
production of synthetic leather, including flax,
cotton, soybean, corn, etc. In recent years,
pineapple leaves have been used to develop
Pinatex a new synthetic leather product. They
are primarily employed since they have flexible
fiber, making them beneficial in manufacturing.
Additionally, this process aids in reducing
environmental harm. Hence, the growing use and
demand for bio-based products create
opportunities for the synthetic leather
market. However, different characteristics of
synthetic to real leather and processing concerns
pertaining to PU and PVC impedes the overall
growth of the synthetic leather market. The North
America is estimated to witness the fastest
growth over the forecast period. The growing
innovations related to bio-based leather and
rising concerns about animal rights support the
markets growth to a large extent. Further, there
is a rising demand for formal footwear, along
with vegan fashion, which has also elevated the
adoption of synthetic leather to meet the demand.
These trends have influenced players to increase
RD of artificial leather, thereby propelling the
studied market on a growth path. The major
companies listed in the synthetic leather market
include Mayur Uniquoters Limited, San Fang
Chemical Industry Co Ltd, Achilles USA Inc, BASF
SE, Nan Ya Plastics Corporation Inc, Teijin
Limited, Alfatex Italia SRL, Kuraray Co Ltd, HR
Polycoats Pvt Ltd, and Toray Industries
Inc. Large players have a wide geographic
presence with strong pricing strategies.
Moreover, the initial fixed costs are higher in
the market. These factors have thus intensified
the competition among existing players. Also, the
established players own imported technologies and
advanced RD facilities, which significantly
lowers the entry of players with less capital.
Thus, the entry of new players is expected to be
low or moderate, while the competition among
players is likely to be high over the forecast
period. Contact Us sales_at_tritonmarketresearch.co
m Phone 44 7441 911839
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