Global High End Synthetic Suede Market – Industry Trends and Forecast to 2029

High End Synthetic Suede Market Analysis and Size

Rising consumer disposable income, improved living standards, changing fashion trends, and increased domestic and international tourism are the primary factors influencing market forward. Rising demand for comfortable, trendy, and fancy leather apparel, footwear, and accessories, as well as increased brand awareness, are expected to benefit the industry.

Data Bridge Market Research analyses that the high-end synthetic suede market was valued at USD 979.86 million in 2021 and is expected to reach the value of USD 1621.66 million by 2029, at a CAGR of 6.50% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

High End Synthetic Suede Market Scope and Segmentation

Market Definition

Synthetic suede is made from polyester and other plastics, posing fewer environmental risks than natural suede. Synthetic suede is typically less expensive and less expensive than natural suede. The material is extremely durable and requires little maintenance, making it a popular option as a viable natural suede substitute.

Drivers

• Growing adoption from various end user industries

Increasing consumer preferences for synthetic suede, rising demand from various industries such as automotive, fashion, and footwear, as well as the need for a better replacement for natural suede. Rising demand for the product due to its high heat retention abilities, low stretch ability, and the increasing popularity of luxury-driving and car-sharing services are some of the major and vital factors that will likely drive the market.

• The growing concept of sustainability in fashion industry

The growing awareness of the negative effects of unethical practices in producing apparel and footwear has increased demand for animal-friendly products. As many renowned designers have promoted the concept of sustainability, sustainable fashion is steadily attracting consumers. For example, designers such as Stella McCartney have been promoting sustainable fashion products, including footwear, in low-cost stores such as Topshop and Zara, which is expected to drive the high-end synthetic suede market during the forecast period.

Opportunities

• Innovation in product offerings

Surging levels of investment in research and development activities, the introduction of bio-based synthetic suede, and the availability of innovative design will all contribute to the growth of the high end synthetic suede market in the above-mentioned timeframe.

Restraints

• High competition and environmental regulations

Increasing levels of competition among existing manufacturers and increasing environmental issues with PVC and PU will likely act as market restraints factors for the growth of high-end synthetic suede in the forecasted timeframe.

This high end synthetic suede market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the high end synthetic suede market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on High End Synthetic Suede Market

The COVID-19 pandemic has had a negative impact on the apparel industry as a whole, including footwear, apparel, and accessories. Retailers suffered significant losses in the first two quarters of 2020. According to World Footwear, footwear sales in the United States fell by nearly 32% at the end of the first two quarters of 2020. Low demand for footwear in general, is expected to reduce the sales of suede shoes. Many industry manufacturers have historically relied on China for finished goods as well as raw materials used in the production of various synthetic suede goods. The pandemic, on the other hand, has disrupted the supply chain, resulting in significant losses in terms of product shipment and on-time delivery.

Global High End Synthetic Suede Market Scope

The high end synthetic suede market is segmented on the basis of type, product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Single Leather
• Double-Sided Leather

Product

• Warp Synthetic Suede
• Weft Synthetic Suede

Application

• Fashion Industrial
• Consumer Electronics
• Furniture
• Automobile

High End Synthetic Suede Market Regional Analysis/Insights

The high end synthetic suede market is analyzed and market size insights and trends are provided by country, type, product and application as referenced above.

The countries covered in the high end synthetic suede market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Germany dominates the European high-end synthetic suede market due to the presence of various key players, rising automotive sector growth, and rising consumer preferences for luxury vehicles in the region.

China is expected to have the highest growth rate in the Asia-Pacific high end synthetic suede market during the forecast period of 2021-2028. Due to the increasing application of the product in various industries such as automotive, fashion, and footwear in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and High End Synthetic Suede Market Share Analysis

The high end synthetic suede market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to high end synthetic suede market.

Some of the major players operating in the high end synthetic suede market are:

• Asahi Kasei Corporation (Japan)
• TORAY INDUSTRIES, INC. (Japan)
• KURARAY CO., LTD. (Japan)
• Kolon Industries, Inc. (South Korea)
• MIKO srl (Italy)
• Nevotex AB (Sweden)
• ECOLORICA MICROFIBER SRL (Italy)
• Tapis Corporation (U.S.)
• SEIREN Co., LTD. (Japan)
• Winiw International Co.,Ltd (China)
• The Mitchell Group (U.S.)
• Textile Innovations Ltd. (U.K.)
• Mercedes-Benz Group AG (Germany)
• Responsive Industries Ltd. (India)
• TALWAR FABRIKS (India)
• Colence Private Limited (India)
• Brentano Fabrics (U.S.)

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