“Synthetic Leather Market: Global
Industry Analysis (2012-2016) and Opportunity Assessment 2017-2027
(2017-2027)” – a new publication by Future Market Insights
presents various market acumen, including trends, developments, key
player analysis and forecasts, across important geographies in the
world.
The global synthetic
leather market is expected to grow at a steady growth rate and is
anticipated to reflect a CAGR of 4.2% by value during the period of
forecast 2017-2027. At this rate, it is expected to reach a value of
US$ 56.3 Bn by 2027 end from a value of US$ 36.2 Bn in 2016.
There are several aspects which have a
profound influence over the consumption of synthetic leather and thus
can be said to have impact over the growth of the synthetic leather
market on a global basis. The automotive industry uses synthetic
leather in the interior parts of cars, such as seat cover, door
panels, dashboard, steering cover, etc. There has been a boom in the
automotive industry which has triggered the use of synthetic leather.
Moreover, the number of passenger cars manufacturing is intensified
owing to large demand of passenger cars. This has spurred the growth
of the global synthetic leather market. Consumers are changing their
preference to luxury products, corrosion free leather products and
shift from genuine to synthetic leather. This has contributed towards
overall growth of the global synthetic leather market.
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Also, rising disposable income has
increased consumer demands for more luxurious goods, such as new
leather footwear, leather bags, leather wallets, leather belts,
leather clothing etc. These aspects have a direct correlation to the
growth of the synthetic leather market with respect to the increased
consumption of synthetic leather. However, there are certain
challenges which hinder the growth of the global market. High tax and
import duties coupled with obligation on chemical products can act as
restraining factors to the growth of the global synthetic leather
market.
The global synthetic leather market
research report includes competitive analysis, which includes the
market share, geographic expansion, strategic analysis, new product
developments and product portfolio of the key tier players involved
in the market. Few of them are Kolon Industries Inc., Mayur
Uniquoters Ltd., Alfatex, Gruppo Mastrotto spa, Achilles Corp.,
Teijin Limited, Nan Ya Plastics Corporation, Daewon Chemical Co Ltd.,
Plastics Elche S.A, Comfort Int'l Co., Ltd and Asahi Kasei
Corporation.
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