Regional Players Dominate the Market Holding ~45% of Revenue Share Despite the Presence of about ~150 competitors comprising a Large Number of Country-Niche Players and Global Players, finds a recent market study on Global Synthetic Leather Market by Ken Research
Artificial leather, often known as synthetic leather, is a material designed to replace real leather in applications such as upholstery, clothing, footwear, and other areas where a leather-like finish is desired but the real thing is either too expensive or inappropriate. Natural leather replacements are required in part due to the expensive cost of natural leather. Another significant type of synthetic leather that has gained popularity is PVC leather, which is used for a wide range of products such as shopping bags, cosmetic bags, wallets, suitcases, purses, and travel bags.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Global Players Who Comprise 15% in Terms of the Number of Competitors Hold the Second-largest Revenue Share
Competitive Analysis by the Ken Research Study found that the Global Synthetic Leather Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in the synthetic leather. The country-niche players comprise about ~45% in terms of the number of companies, followed by regional players accounting for ~40% in terms of the number of companies. Most of the country-niche players have vertically integrated raw material suppliers. Some of these who successfully evolve to create synthetic leather products often get acquired by large global players seeking to grow and diversify quickly.
2. Leading Specialist Global Players’ Ongoing Efforts To Provide Synthetic Leather To a Variety of Industries Drive the Growth of the Market
Detailed comparative analysis of key competitors available within the Research Study shows that specialist companies, such as H.R. Polycoats Private Limited., Mayur Uniquoters Limited, San Fang Chemical Industry Co., Ltd., Zhejiang Hexin Science And Technology Co., Ltd. are highly focused on providing a significant number of synthetic leather products that can be used across the leather industries.
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- In July 2018, Teijin Limited revealed that it had acquired the renowned German supplier of automotive interior materials J.H. Ziegler GmbH.
- In January 2022, Kuraray Co., Ltd. produced Clarino synthetic leather products based on Kuraray’s research and development.
3. Government Initiatives to Aid in the Expansion of the Global Market for Synthetic Leather Market
- In August 2022, In a deal signed at the Footwear and Leather Sector Conclave, the Tamil Nadu government commits to investing US$22.5 billion in the leather industry and announcing the state’s footwear policy. The goal of the policy is to support both the leather and non-leather footwear industries in the state.
- In May 2019, the Indian government launched a US$ 40 billion incentive package for the leather and footwear sectors, to increase manufacturing, exports, and job creation in the country.
Key Topics Covered in the Report
- Snapshot of the Global Synthetic Leather Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Synthetic Leather Market
- Historic Growth of the Overall Global Synthetic Leather Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Synthetic Leather Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Synthetic Leather Market
- Future Market Forecast and Growth Rates of the Total Global Synthetic Leather Market and by Segments
- Market Size of Application Segments with Historical CAGR and Future Forecasts
- Analysis of Global Synthetic Leather in Major Regions
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
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Major Players Mentioned in the Report
- H.R. Polycoats Private Limited.
- Kuraray Co., Ltd.
- Teijin Limited
- Nan Ya Plastics Corporation
- Mayur Uniquoters Limited
- San Fang Chemical Industry Co., Ltd.
- Filwel Co., Ltd.
- Zhejiang Hexin Science and Technology Co., Ltd.
- Asahi Kasei Corporation.
- Toray Industries, Inc.
Notable Emerging Companies Mentioned in the Report
- Fujian Polytech Technology Corp., Ltd.
- Daewon Chemical Co Ltd.
- Kolon Industries Inc.
- Achilles Corp
- Gruppo Mastrotto spa
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Synthetic Leather Manufacturers
- Leather Goods Manufacturers
- Leather Research & Development Institutes
- Environmental Protection Regulators
- Industrial Processing Machinery Suppliers
- Synthetic Leather Suppliers
- Synthetic Leather Raw Material Provider
- Investment Banks Targeting Consumer Goods Market
- Plastic and Rubber Manufacturers
- Adhesive Manufacturers
- Government Regulators of Chemicals and Plastics Industry
- Chemical and Plastics Industry Associations
- Potential Entrants of Synthetic Leather Industry
For more information on the research report, refer to the below link:
Global Synthetic Leather Market
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