COVID-19 Impact and Recovery Analysis- Synthetic Leather Market 2020-2024

The synthetic leather market and it is poised to grow by $ 12.98 bn during 2020-2024, progressing at a CAGR of about 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Synthetic Leather Market Download free sample report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alfatex Italia Srl, Anhui Anli Material Technology Co. Ltd., Asahi Kasei Corp., FILWEL Co. Ltd., Kuraray Co. Ltd., Mayur Uniquoters Ltd., Nan Ya Plastics Corp., Sanfang Chemical Industry Co. Ltd., Teijin Ltd., and Toray Industries Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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The high demand from developing economies has been instrumental in driving the growth of the market. However, stringent government regulations and standards might hamper the market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/synthetic-leather-market-industry-analysis

Synthetic Leather Market 2020-2024: Segmentation

Synthetic Leather Market is segmented as below:

• Product
• PU-based
• PVC-based
• Bio-based
• Application
• Footwear Industry
• Furnishing Industry
• Automotive Industry
• Bags Industry
• Other Industry
• Geographic Landscape
• APAC
• Europe
• MEA
• North America
• South America

Synthetic Leather Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our synthetic leather market report covers the following areas:

• Synthetic Leather Market Size
• Synthetic Leather Market Trends
• Synthetic Leather Market Industry Analysis

This study identifies increasing production capacity as one of the prime reasons driving the synthetic leather market growth during the next few years.