Asia-pacific Synthetic Leather Market Forecast 2023-2032

Asia-pacific Synthetic Leather Market Forecast 2023-2032

KEY FINDINGS

The Asia-Pacific synthetic leather market is expected to accelerate with a 7.01% CAGR and 7.24% CAGR in volume and revenue, respectively, during the assessment period 2023-2032. Accessibility to a large number of skilled labor at a low cost and the presence of several global market players boost the market growth.

MARKET INSIGHTS

The Asia-Pacific synthetic leather market growth evaluation entails the analysis of Thailand, India, South Korea, Indonesia, Vietnam, China, Japan, Australia & New Zealand, and Rest of Asia-Pacific. India’s market is expanding quickly as a result of numerous government initiatives. Along with adopting different efforts, like the creation of leather parks, to improve the sector’s infrastructure, the Indian government is also offering incentives to domestic producers to encourage the expansion of the leather manufacturing industry. Besides, consumers’ awareness of animal welfare and the nation’s growing demand from the footwear and leather industries are expected to drive the synthetic leather market.

Besides, in Indonesia, synthetic leather is one of the most commonly used materials in Indonesia’s fashion industry, and other materials like linen, rayon, denim, satin, nylon, cotton, and many more. Various designs of synthetic leather footwear and other products have emerged and have made the synthetic leather industry more competitive in the nation. The resistance of the synthetic leather material makes it more favored by many to be included in their everyday style. As a result, the synthetic leather industry constantly grows when several luxurious brands utilize synthetic leather as their main material.

COMPETITIVE INSIGHTS

Leading market players include Kuraray Co Ltd, San Fang Chemical Industry Co Ltd, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments