Market Business Insights - 09 November, 2022

As specified in our exclusive report, the global High-End Synthetic Suede Market is projected to reach USD 2 billion by 2030.

Synthetic suede is made from a blend of polyester and other plastics, which presents fewer environmental hazards than natural suede. Unlike natural suede, synthetic suede is generally more economical and cheaper. The material is extremely durable and requires minimal maintenance, making it a common choice as a viable natural suede alternative.

Growing consumer preference towards the use of high-end synthetic suede, increasing demand for the product from various industries such as automotive, fashion, and footwear, increasing need to replace natural suede, increasing demand for the product. Its high heat retention capacity, low stretch, and others, and the increasing popularity of luxury-driving and car-sharing services are some of the major as well as important factors that will accelerate the growth of the high-end synthetic suede market.

Which Region Holds the Largest Share?

The country China is projected to hold the largest growth rate in the Asia-Pacific high-end synthetic suede market during the forecast period of 2022-2030 owing to the increasing application of the product from various industries such as automotive, fashion, and footwear in this sector.

Some of the key players in the high-end synthetic suede market are:

Asahi Kasei Corporation, Kolon Industries, Inc., Toray Industries, Inc. Ltd., WINIW International Co., Ltd., Seiren Co., ECOLORICA MICROFIBER SRL, Rishabh Velveleen Ltd., Nevotex AB, The Mitchell Group, Tapis Corp., Zhejiang Meisheng New Material Co., Ltd., Majilite Inc., American Silk Mills, Ji’an Sanling Microfiber Co., Ltd, and others

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