Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Research Reports

Synthetic Leather Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2027

Some of the prominent players in the market are Plastics Elche S.A., Sheng Hung Industrial Co. Ltd., Daewon Chemical Co Ltd., Asahi Kasei Corporation, Teijin Limited, Alfatex, Gruppo Mastrotto spa, Mayur Uniquoters Ltd ., and Kolon Industries Inc., notes Future Market Insights (FMI). Several leading players are adopting the strategy of competitive pricing to gain… Read More »Synthetic Leather Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2027

Global Banking And Finance 1 News

Some of the prominent players in the market are Plastics Elche S.A., Sheng Hung Industrial Co. Ltd., Daewon Chemical Co Ltd., Asahi Kasei Corporation, Teijin Limited, Alfatex, Gruppo Mastrotto spa, Mayur Uniquoters Ltd ., and Kolon Industries Inc., notes Future Market Insights (FMI). Several leading players are adopting the strategy of competitive pricing to gain a better foothold in the market. In recent years, a growing number of players are increasingly focusing on developing novel products, in order to gain a competitive edge over others.

The global synthetic leather market is projected to rise at a CAGR of 4.2% from 2017 to 2027. The market stood at US$ 36.2 Bn in 2016 and is estimated to reach a valuation of US$ 56.3 Bn by the end of 2027.

The various applications of synthetic leather are furnishing, footwear, automotive, bags and wallets, electronics, clothing, and sports. Of these, footwear is the leading segment, vis-à-vis revenue share and the growth rate and is predicted to retain its dominance throughout the assessment period. The segment is projected to be worth around US$16 Bn by 2027 end, rising at a CAGR of 4.9% from 2017 to 2027. Geographically, Asia Pacific excluding Japan (APEJ) is the dominant market. The regional market is poised to be the most attractive market rising at the leading CAGR of 4.9% during 2017–2027 and is predicted to reach US$16.5 Bn by the end of the forecast timeline. The substantial growth of the regional market can be attributed largely to a thriving end-use industries of furnishing, footwear, and automotive.

Get Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4886

Affordability of Luxury Products in Emerging Economies to Stoke Demand                          

The vastly rising demand for synthetic leather in the automotive industry world over is a primary factor driving the market. This is attributed to the pressing need for improving the fuel efficiency, which calls for an intensifying demand for light-weight products, including leather. The burgeoning automobile industry in numerous developed economies, coupled with the rapidly rising demand for passenger cars in industrialized nations, is a notable trend bolstering the demand for synthetic leather. The soaring popularity of synthetic leather in various regions is fueled by the preference of markedly durable and low-maintenance artificial leather products that closely resemble natural leather in feel as well as appearance.

The extensive use of synthetic leather in the making innovative, artistic, and fashionable products is a key factor accentuating the market. To add to this, a growing affordability of luxury products on the account of increasing disposable incomes is expected to bolster the demand for synthetic leather in numerous urbanized nations. In addition, changing lifestyle has increased their inclination toward high-value aesthetic products made by synthetic leather. Furthermore, the marked durability and ability to resist stain are key characteristics stoking the popularity of synthetic leather among these populations. 

Advances in Manufacturing Processes to Unlock Promising Prospects 

However, the use of PVC and PU used in the manufacture process of synthetic labor has given rise to mounting concern of the health hazards associated with the use of these additives. Nevertheless, tightening regulations hampering the sale of animal products in several developing and developed regions is a key factor likely to positively impact the growth of the market. Furthermore, over the years, advances in manufacturing processes are expected to help to rein over various environmental concerns of manufacturing processes. The burgeoning demand for low-maintenance footwear and the rising preference of stylish products in various parts of the world are notable factors expected to accentuate the synthetic leather market.

Purchase a Copy of this Research Report for more Insights: https://www.futuremarketinsights.com/checkout/4886

The study presented here is based on a report by Future Market Insights (FMI) titled, “Synthetic Leather Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027).”

Explore Wide-ranging Coverage of Various Reports

Sodium Hydroxide Market FMI’s
analysis gives an insight into key market trends, strategies, regional players
and various segments on the basis of form, type, application and region.

Textile Chemicals
Market
Find insights into global market scenario and segmentation on
the basis of ingredients, application, source and region.

Industrial Oxygen
Market
FMI’s report highlights parent market trends and strategies
in the market with segments and dynamics through the forecast period
(2019-2029).

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post