Vietnam Synthetic Leather Market Forecast 2023-2030
KEY FINDINGS
The Vietnam synthetic leather market is anticipated to project a CAGR of 9.28% and a CAGR of 8.88% in revenue and volume, respectively, between the assessment years 2023 and 2030. Rising demand for synthetic leather in the automotive and footwear industries propels market growth.
MARKET INSIGHTS
Increasing awareness about animal cruelty and rising costs of genuine leather have paved the way for synthetic leather to take over the animal-based leather market. The trends can be seen in the footwear, upholstery, and clothing segments. Further, synthetic leather is utilized in the automotive industry to create interiors, such as seat covers for automobiles, buses, lorries, trains, motorcycles, etc. The consumption of textiles in automobiles is spread across applications such as carpets, upholstery, tires, belts, airbags, etc.
The automotive industry has been propelling exponentially in Vietnam over the past few years. Increasing consumer expectations and tightening government regulations demand ever have further boosted the automotive industry. In addition, new mobility concepts and energy vehicles (NEVs), such as autonomous driving, are helping the automotive industry in Vietnam continue to develop rapidly to meet increasing consumer demand, which is anticipated to boost the demand for synthetic leather.
COMPETITIVE INSIGHTS
Some of the leading market players include Nan Ya Plastics Corporation Inc, Toray Industries 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
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Country Snapshot
- 2.3. Country Analysis
- 2.4. Scope Of Study
- 2.5. Crisis Scenario Analysis
- 2.6. Major Market Findings
- 2.6.1. Adoption Of Vegan-based Leather Across The Fashion Industry
- 2.6.2. Surging Use Of Synthetic Leather By Automotive Giants
- 2.6.3. Myth That Synthetic Leather Is More Eco-friendly Than Real Leather
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increase In Demand From Various End-use Industries
- 3.1.2. Tectonic Shift Toward The Adoption Of Animal-free And Sustainable Products
- 3.1.3. Cheaper And More Affordable Alternative To Natural Leather
- 3.2. Key Restraints
- 3.2.1. Concerns Regarding The Use Of Pvc And Pu
- 3.2.2. Fundamental Difference From Natural Counterparts
- 4. Key Analytics
- 4.1. Parent Market Analysis
- 4.2. Manufacturing Technology Snapshot
- 4.2.1. Wet Process
- 4.2.2. Transfer Coating Technology
- 4.3. Key Market Trends
- 4.4. Pestle Analysis
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Buyers Power
- 4.5.2. Suppliers Power
- 4.5.3. Substitution
- 4.5.4. New Entrants
- 4.5.5. Industry Rivalry
- 4.6. Growth Prospect Mapping
- 4.6.1. Growth Prospect Mapping For Vietnam
- 4.7. Market Maturity Analysis
- 4.8. Market Concentration Analysis
- 4.9. Value Chain Analysis
- 4.9.1. Raw Material Suppliers
- 4.9.2. Manufacturers
- 4.9.3. Distributors
- 4.9.4. End-use
- 4.10. Key Buying Criteria
- 4.10.1. Raw Material
- 4.10.2. Durability
- 4.10.3. Cost
- 5. Market By Product
- 5.1. Polyurethane (Pu)
- 5.1.1. Market Forecast Figure
- 5.1.2. Segment Analysis
- 5.2. Polyvinyl Chloride (Pvc)
- 5.2.1. Market Forecast Figure
- 5.2.2. Segment Analysis
- 5.3. Bio-based
- 5.3.1. Market Forecast Figure
- 5.3.2. Segment Analysis
- 6. Market By Application
- 6.1. Footwear
- 6.1.1. Market Forecast Figure
- 6.1.2. Segment Analysis
- 6.2. Automotive
- 6.2.1. Market Forecast Figure
- 6.2.2. Segment Analysis
- 6.3. Furnishing
- 6.3.1. Market Forecast Figure
- 6.3.2. Segment Analysis
- 6.4. Clothing
- 6.4.1. Market Forecast Figure
- 6.4.2. Segment Analysis
- 6.5. Bags & Wallets
- 6.5.1. Market Forecast Figure
- 6.5.2. Segment Analysis
- 6.6. Other Applications
- 6.6.1. Market Forecast Figure
- 6.6.2. Segment Analysis
- 7. Competitive Landscape
- 7.1. Key Strategic Developments
- 7.1.1. Acquisitions
- 7.1.2. Product Launches & Developments
- 7.1.3. Partnerships & Agreements
- 7.1.4. Business Divestitures & Expansions
- 7.2. Company Profiles
- 7.2.1. Kuraray Co Ltd
- 7.2.1.1. Company Overview
- 7.2.1.2. Financial Analysis
- 7.2.1.3. Products
- 7.2.1.4. Strengths & Challenges
- 7.2.2. Nan Ya Plastics Corporation Inc
- 7.2.2.1. Company Overview
- 7.2.2.2. Financial Analysis
- 7.2.2.3. Products
- 7.2.2.4. Strengths & Challenges Analysis
- 7.2.3. San Fang Chemical Industry Co Ltd
- 7.2.3.1. Company Overview
- 7.2.3.2. Financial Analysis
- 7.2.3.3. Products
- 7.2.3.4. Strengths & Challenges Analysis
- 7.2.4. Tejin Limited
- 7.2.4.1. Company Overview
- 7.2.4.2. Financial Analysis
- 7.2.4.3. Products
- 7.2.4.4. Strengths & Challenges
- 7.2.5. Toray Industries Inc
- 7.2.5.1. Company Overview
- 7.2.5.2. Financial Analysis
- 7.2.5.3. Products
- 7.2.5.4. Strengths & Challenges
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