According to the recent study the high-end synthetic suede market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by increasing demand from the various end-user industries, such as automotive, fashion, and footwear, and growing environmental and ethical concerns among consumers regarding sustainable and environment friendly fashion.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in high-end synthetic suede market by product (woven and non-woven), type (single leather and double-sided leather), application (automotive, fashion, furniture, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Non-woven market is expected to remain the largest segment during the forecast period.”
Based on product, the high-end synthetic suede market is segmented into woven and non-woven. Lucintel forecasts that the non-woven market is expected to remain the largest segment as these materials are lighter and weaker as compared to woven material and is utilized for the manufacturing of durable clothing.
“Within the high-end synthetic suede market, the automotive segment is expected to remain the largest application”
Based on application the automotive segment is expected to witness the highest growth over the forecast period due to increase in adoption of lightweight materials by automotive OEMs so as to improve the fuel efficiencies of the vehicles. It is used in manufacturing of seat covers, steering-wheel covers, and shift knobs.
“Europe will dominate the high-end synthetic suede market in near future”
Europe will remain the largest due to growing demand of luxury vehicles in the region and increasing preference for synthetic suede over natural suede as these materials are more durable and less expensive.
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Major players of high-end synthetic suede market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Asahi Kasei, Toray Industries., Kolon Industries., Seiren Co, WINIW International, Nevotex AB, Rishabh Velveleen, The Mitchell Group, Tapis Corp., and Majilite Inc. are among the major high-end synthetic suede providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/high-end-synthetic-suede-market.aspx or [email protected]