By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–The “High-End Synthetic Suede Market Report” has been added to ResearchAndMarkets.com’s offering.
The high-end synthetic suede market is expected to reach $2,066.9 million by 2031, with a CAGR of 5. 41% during the forecast period 2021-2031.
High-end synthetic suede is in an expansion phase. This material was popularized after ethical and environmental concerns were raised about natural suede’s use, which requires the killing of animals. The use of synthetic suede has increased. Most synthetic suede is made from plastic recycled fibers. However, bio-based materials are now more popular.
High-End Synthetic Suede Industry Overview
Leather production in large quantities has led to the slaughter of many animals, including calves, horses and lambs, who are used to make leather. Leather is also toxic to the environment.
Leather tanning facilities that use chromium in their tanning processes release toxic metals as a waste. Environmental activists and non-governmental organizations have been tireless in spreading knowledge about leather’s potential dangers. They have also helped to develop innovative materials for their production.
Synthetic Suede is one such important material. It is made from the blends o polyester and does not use any unethical practices or toxins that could harm the environment.
High-End Synthetic Suede Market by Product
The high-end synthetic suede market has been segmented based on woven and non-woven products. Non-woven materials are the most important players in the high-end market for synthetic suede. Non-woven synthetic suede tends to be lighter and more fragile than woven. Non-woven materials can be used only for one-use purposes and are therefore not suitable for making durable clothing.
High-End Synthetic Suede Market By Application
The market for high-end synthetic suede has been divided by application (automotive, fashion, furniture and other). High-end synthetic suede is in high demand because of the increased demand for lightweight materials that improve fuel efficiency. Fiat Chrysler, Daimler AG and Porsche AG are all actively using high-end synthetic suede as part of their production processes.
High-End Synthetic Suit Market by Region
Europe ranks among the most important regions for high-end synthetic suede consumption. This country is home to many luxury car manufacturers. This in turn increases the demand for high-end suede in the region.
Key Market Players and Competition Synopsis The report profiles companies after conducting in-depth interviews and learning details about companies like product portfolios, market penetration, market revenues, research and development initiatives, as well as domestic and international presence in high-end synthetic suede markets.
Key Questions Answered in the Report
- For a new company looking to enter the market, which areas could it focus upon to stay ahead in the competition?
- What are the market leaders that can help improve their market position?
- What are the promising companies who have received financial support to expand their markets and products?
- What is the role of the supply chain in high-end synthetic suede markets?
- Which product segment is expected to witness the maximum demand growth in the high-end synthetic suede market during 2021-2031?
- How can market players differ in their strategies for different product segments depending on the size and interests of the companies that are involved?
- Which are the most prominent offerings in the high-end market for synthetic suede?
- What are the demand patterns of high-end synthetic suede across the application areas in different regions and countries during the period 2020-2031?
Market Growth Drivers
- Rising Demand for High-End Synthetic Suede in Automotive Applications
- Need for Replacement of Natural Suede Due to Environmental and Ethical Concerns
- Rising Consumer Preferences for Synthetic Suede
- High Demand for Natural Leather
- Issues Concerning the Use of Polyvinyl Chloride (PVC) and Polyurethane (PU)
- Opportunities Across Different End-User Industries
- Growth of Emerging Economies
- American Silk Mills
- Asahi Kasei Corporation
- Ecolorica Microfiber SRL
- Ji’an Sanling Microfiber Co., Ltd.
- Kolon Industries, Inc.
- Majilite Inc.
- Nevotex AB
- Rishabh Velveleen Ltd.
- Seiren Co., Ltd.
- Tapis Corp.
- The Mitchell Group
- Toray Industries, Inc.
- WINIW International Co., Ltd.
- Zhejiang Meisheng New Material Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/z4is55
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