Stratistics MRC report, Synthetic Leather Market Forecasts to 2027 – Global Analysis Application, Key Players, Types, End User and By Geography
MARYLAND, GAITHERSBURG, UNITED STATES, October 19, 2021 /EINPresswire.com/ — The Global Synthetic Leather Market is accounted for $30.49 billion in 2019 and is expected to reach $63.02 billion by 2027 growing at a CAGR of 9.5% during the forecast period. Some of the factors contributing to the growth of the market are increasing demand from the footwear industry and advantages over pure leather. However, the harmful effects of PU and PVC are hampering the growth of the market.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the technological innovations in the synthetic leather industry and the presence of some of the major players in the region. The Asia-Pacific region is expected to be the fastest-growing synthetic leather market, which is backed by the high demand for synthetic leather in the footwear, automotive, and construction industries. The demand from major emerging countries such as China, India, and South Korea also drives the synthetic leather market in the region.
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Some of the key players profiled in the Synthetic Leather Market include Achilles USA, Inc., Alfatex Italia SRL, Asahi Kasei Corporation, FILWEL Co., Ltd., Fujian Polytech Technology Corp., Ltd., H.R.Polycoats Pvt. Ltd., Kuraray Co., Ltd., Mayur Uniquoters Limited, Nan Ya Plastics Corporation, San Fang Chemical Industry Co., Ltd., Teijin Limited, Toray Industries, Inc., and Zhejiang Hexin Holdings Co., Ltd.
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Synthetic Leather Market report provides an in-depth study and forecast about the industry covering the complete overview of the market that will assist convey clients and business-making strategies. The industry’s supply chain and market size, in terms of value, have been derived by extensive research methods. Our report enables readers to understand details of the market, latest trends, key drivers and constraints, opportunities, threats, volume and value forecasts, and various investment opportunities for manufacturers operating in the global and regional markets. Synthetic Leather Market report also offers company profiling with detailed strategies, financials, key products, and recent developments along with SWOT analysis of profiled players and Porters five forces for deep insights.
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Source: EIN Presswire