The Growing Demand for High End Synthetic Suede: A Market Analysis

IMARC Group, a leading market research company, has recently releases report titled “High End Synthetic Suede Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global high end synthetic suede market share, growth, trends, size, report and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the High End Synthetic Suede Market?

The global high end synthetic suede market size reached US$ 1,066 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,555 Million by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

What is High End Synthetic Suede?

High-end synthetic suede, a variant of leather, is crafted from a blend of polyester and various plastic materials. It boasts attributes that make it remarkably easy to manage, stitch, and wear, all while resisting common issues like peeling, shrinking, or cracking. This material undergoes processes such as sanding, brushing, or chemical treatments to emulate the appearance and texture of napped leather, providing a premium feel. Notably, high-end synthetic suede exhibits exceptional durability, demanding minimal upkeep, and displaying resistance to stains, water, wind, and more. Its cost-effectiveness and environmentally friendly nature have made it a preferred choice in the production of premium items like belts, automotive seat covers, jacket inner linings, designer hats, and beyond. This versatile material also finds extensive applications across various industries, including automotive, fashion, and furniture, among others.

What Are the Growth Prospects and Trends in The High End Synthetic Suede Industry?

The high-end synthetic suede market is witnessing substantial growth, primarily propelled by the increasing demand for lightweight materials, notably in products like shift knobs, steering wheel covers, and seat covers. Furthermore, the market benefits from government initiatives aimed at raising awareness about the potential hazards associated with leather usage, further boosting its growth. Additionally, the widespread adoption of high-end synthetic suede, driven by its advantageous attributes such as excellent heat retention and minimal stretchability, serves as another pivotal factor fueling market expansion. Moreover, this versatile material finds extensive applications in diverse sectors, encompassing footwear, clothing, accessories, furniture, and upholstery, contributing positively to the global market's growth trajectory. Furthermore, the burgeoning trend of sustainable fashion and heightened consumer environmental concerns are expected to provide a significant impetus to the high-end synthetic suede market in the foreseeable future.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights

• Single-sided Leather
• Double-sided Leather

Product Insights

• Woven
• Non-woven

Application Insights

• Automotive
• Fashion
• Furniture
• Others

Regional Insights

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Who are the key players operating in the industry?

 Asahi Kasei Corporation, Ecolorica Microfiber S.r.l., Ji'an Sanling Microfiber Co. Ltd., Kolon Industries, Majilite Inc. (Meridian Industries Inc.), Seiren Co. Ltd., Talwar Fabriks, Tapis Corporation, The Mitchell Group, The Rishabh Velveleen Ltd, Toray Industries Inc., WINIW International Co. Ltd., Zhejiang Meisheng New Material Co. Ltd., etc.

Key highlights of the Report:

• Market Performance (2018 – 2023)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porters Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape