North America Synthetic Leather Market Forecast 2023-2032

North America Synthetic Leather Market Forecast 2023-2032

KEY FINDINGS

The North America synthetic leather market is set to project a 7.46% CAGR and 7.27% CAGR in revenue and volume, respectively, during the estimation period, 2023-2032. Innovations in the bio-based leather industry, increasing concerns from animal rights groups, and the growing number of working professionals propel market growth in the region.

MARKET INSIGHTS

The North America synthetic leather market growth assessment includes an analysis of the United States and Canada. The Canadian genuine leather sector is suffering due to the increased campaigns and public awareness raised by various animal rights organizations. Canada used to import leather from Asia, specifically from India. However, the government placed strict laws and controls on the use of leather products in response to the escalating animal cruelty. Thus, synthetic leather was added to fill the gap between supply and demand.

Furthermore, automobile production is one of the crucial industries in Canada. The nation has a well-established research and development and manufacturing infrastructure for the automobile industry. Also, Canada’s textile and apparel market is anticipated to be driven by favorable demographics, an increase in per capita income, and consumer preference for branded goods. Therefore, the synthetic leather market is expanding due to the expansion of Canada’s automotive, textile, and garment industries.

COMPETITIVE INSIGHTS

Major players operating in the market include Kuraray Co Ltd, Achilles USA Inc, 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