Press release
Synthetic Leather Market Innovations, And Portfolio Extensions Leading To Product Premiumization To Boost Market Growth by Mitsubishi Chemicals Corp., Kuraray Co. Ltd., H.R. Polycoats Pvt. Ltd., Hanwa Chemical Corp.
The Global Synthetic Leather Market 2032 Industry Report is a professional and in-depth study on the current state of the Synthetic Leather Market by QMI. The Synthetic Leather Market is supposed to demonstrate a considerable growth during the forecast period of 2023-2032. The company profiles of all the key players and brands that are dominating the market have been given in this report. Their moves like product launches, joint ventures, mergers and acquisitions and the respective effect on the sales, import, export, revenue and CAGR values have been studied completely in the report.Synthetic leather is eco-friendly than traditional or genuine leather. It can be made eco-friendlier and more acceptable by changing certain aspects of synthetic leather. Some companies are now shifting their focus to recycled products to manufacture synthetic leather in order to promote sustainable development.
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Impact Factors:
• Drivers such as accelerating demand from footwear industry, less animal killing, advantages over pure leather, and increasing demand from OEM industry will drive the synthetic leather market.
Recent Developments:
• September 2021: Teijin Cordley Limited, a division of Teijin Frontier Group, a Japanese company, created the most up-to-date synthetic leather that is both antiviral and antibacterial and contains a long-lasting antibacterial agent. Teijin Cordley started selling the most recent antiviral synthetic leather in October of this year. Children's suitcases will be made using earlier iterations, and athletic gear like leather balls and shoes will be made using later versions. The company sold 30,000 metres in its fiscal year 2021, and it expects to sell 580,000 metres in its fiscal year 2024.
• September 2021: In response to recent research outlining the future of sustainable luxury goods, Volvo Cars promised to outfit all of their upcoming electric vehicles with materials free of leather. By utilising premium recycled materials, the venerable automaker hopes to advance sustainability and animal welfare. Volvo is a multinational automaker that has made significant strides toward electrification and carbon neutrality across all of its brands and production methods.
• In order to improve silicon wafer quality while lowering production costs, Teijin Frontier Co. Ltd., a company that converts fibres and products for the Teijin Group, developed polishing pads made of the non-woven material called "NANOFRONT." A flexible, water-absorbent polymer and polyurethane resin are used to create the ultra-fine nanofiber known as "NANOFRONT."
Segmentations Covered in the Report:
Detailed segmentation by area (country), business, type, and application are included in the Synthetic Leather market research analysis. The research offers comprehensive details on new products, regional investments, and market investments. The Synthetic Leather market research report also monitors emerging technologies and trends. The most recent market dynamics, including motivating and inhibiting factors, as well as business news like mergers and acquisitions and investments, are also included in the study. This analysis of current market trends from 2023 to 2032 is provided for each of the sub-segments.
Market Segmentation:
By Product (Bio-based, PVC, PU), By Application (Clothing, Furnishing, Automotive, Bags & Wallets, Footwear)
Regional Overview:
>>North America (the United States of America, Canada, and Mexico)
>>Asia-Pacific (Japan, China, India, Australia, Rest of Asia Pacific)
>>Europe (Germany, UK, France, Rest of Europe)
>>Central & South America (Brazil, Argentina, Rest of South America)
>>Middle East & Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of Middle East & Africa)
The Key Players in this Market are: Mitsubishi Chemicals Corp., Kuraray Co. Ltd., H.R. Polycoats Pvt. Ltd., Hanwa Chemical Corp., Alfatex Italia, Yantai Wanhua Group Co. Ltd., Nan YaPlastis Corp., Tejinin Ltd And 25 Others.
Reasons for Buying Synthetic Leather Market Report:
- This report gives a forward-looking prospect of various factors driving or restraining market growth.
- It renders an in-depth analysis for changing competitive dynamics.
- It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
- It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
- It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Synthetic Leather Market.
- This report helps the readers understand key product segments and their future.
- From 2015 to 2023, All Recent Developments have been covered in this Report.
The Research study can answer the following Key questions:
1. What will be the progress rate of the Synthetic Leather Market for the conjecture period, 2032?
2. What are the prominent factors driving the Synthetic Leather Market across different regions?
3. Who are the major vendors dominating the Synthetic Leather industry and what are their winning strategies?
4. What will be the market scope for the estimated period?
5. What are the major trends shaping the expansion of the industry in the coming years?
6. What are the challenges faced by the Synthetic Leather Market?
Directly Purchase "Single User License" of Synthetic Leather Market Growth Report (2023-2032) at: https://www.quincemarketinsights.com/insight/buy-now/synthetic-leather-market/single_user_license
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