High End Synthetic Suede Market

Market Overview:

The global high end synthetic suede market size reached USD 1,132.1 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 1,845.5 Million by 2032, exhibiting a growth rate (CAGR) of 5.41% during 2024-2032. The rising demand for lightweight materials, widespread product adoption in the automotive industry, and various product innovations represent some of the key factors driving the market.

High end synthetic suede is a type of leather manufactured using polyester and other plastic blends. These fabrics are brushed, sanded, or chemically treated to provide the look and feel of napped leather. They are widely used for high-end belts, seat covers for automobiles, inner linings for jackets, and designer hats. High end synthetic suede is easy to sew, care for, and wear and does not peel, shrink, or crack. They are extremely durable, need minimal maintenance, and are resistant to stains, water, and wind. As compared to natural suede, high end synthetic suede is cost-effective and environmentally friendly. As a result, high end synthetic suede is widely used in apparel and accessory applications and the automotive, fashion, and furniture industries.

At present, the widespread product adoption in the automotive industry across the globe is one of the key factors creating a positive outlook for the market. High end synthetic suede is widely used due to the rising demand for lightweight materials, especially in steering-wheel covers, shift knobs, and seat covers, which, in turn, is favoring the market growth significantly. Moreover, as it is well suited to handle high-volume usage and resist spills and temperature variations while maintaining its shape and luxurious feel, there is a steadily rising demand for high-end synthetic suede from various industries, which is currently acting as another growth-inducing factor. Apart from this, stringent animal welfare laws enforced worldwide are further facilitating the demand for synthetic suede alternatives as they are environmentally friendly. Additionally, the increasing product demand due to its numerous advantages, such as high heat retention abilities and low stretchability, is propelling the market growth. Along with this, the widespread utilization of high end synthetic suede in clothing, shoes, accessories, furniture, and upholstery applications is providing an impetus to the market growth. Furthermore, the rising environmental concerns among individuals and the growing awareness regarding sustainable fashion are positively influencing the market growth. Other factors, including the implementation of various government initiatives to create awareness regarding the potential hazards of leather and extensive research and development (R&D) activities, are anticipated to drive the market growth.

High End Synthetic Suede Market Trends:

Increasing Product Demand in the Automotive Industry

The increasing demand for high-end synthetic suede in the automotive industry is one of the major factors contributing to the market growth. This material is used in car interiors due to its luxurious appearance, durability, and cost-effectiveness compared to natural leather. Moreover, the ongoing shift by automotive manufacturers toward synthetic suede to meet consumer demand for high-quality and aesthetically appealing interiors that are environmentally friendly and functional is fueling the expansion of the high-end synthetic suede market size. Additionally, this material offers a premium feel that enhances the overall vehicle experience. In addition to this, synthetic suede offers greater resistance to wear and tear, making it a suitable option for high-use environments within vehicles.

Growing Adoption in the Fashion Industry

The increasing demand for high-end synthetic suede in the fashion industry is another major factor fueling the market growth. In line with this, designers are progressively choosing synthetic alternatives to natural suede for clothing, shoes, and accessories, spurred by the rising focus on sustainability and animal welfare. Additionally, synthetic suede offers a nearly identical look and feel to natural suede but with a more sustainable footprint, thus aligning with the growing consumer awareness about ethical production practices. Furthermore, the increasing pressure on fashion brands to adopt eco-friendly materials without compromising on quality is accelerating the high-end synthetic suede market size. Besides this, its versatility in terms of design, texture, and color, as it can be used in a wide array of products, such as high-end handbags, jackets, and footwear, is bolstering the expansion of the market.

Expanding Use in the Furniture Industry

The widespread incorporation of high-end synthetic suede in the furniture industry as an alternative to traditional upholstery materials is creating a positive outlook for the market. Moreover, the increasing aesthetic appeal of the material, combined with its durability, which makes it ideal for home furnishings, such as sofas, chairs, and cushions, is fueling the high-end synthetic suede market share. Furthermore, it offers a premium look and feel that mimics natural suede, providing a luxurious touch to interior decor. It is also easier to maintain and clean, which is a significant advantage for households with children or pets. Additionally, synthetic suede offers better resistance to wear and fading, making it a cost-effective option for long-term use.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global high end synthetic suede market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, product, and application.

Type Insights

• Single-Sided Leather
• Double-Sided Leather
   

The report has also provided a detailed breakup and analysis of the high end synthetic suede market based on the type. This includes single-sided leather and double-sided leather. According to the report, single-sided leather represented the largest segment.

Product Insights

• Woven
• Non-Woven
   

A detailed breakup and analysis of the high end synthetic suede market based on the product has also been provided in the report. This includes woven and non-woven. According to the report, non-woven accounted for the largest market share.

Application Insights

• Automotive
• Fashion
• Furniture
• Others
   

The report has also provided a detailed breakup and analysis of the high end synthetic suede market based on the application. This includes automotive, fashion, furniture, and others. According to the report, automotive represented the largest segment.

Regional Insights

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Europe was the largest market for high end synthetic suede. Some of the factors driving the Europe high end synthetic suede market included its widespread adoption in the fashion industry, product innovations and extensive research and development activities, etc.

Competitive Landscape

The report has also provided a comprehensive analysis of the competitive landscape in the global high end synthetic suede market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:

• Asahi Kasei Corporation
• Ecolorica Microfiber S.r.l.
• Ji’an Sanling Microfiber Co. Ltd.
• Kolon Industries
• Majilite Inc. (Meridian Industries Inc.)
• Seiren Co. Ltd.
• Talwar Fabriks
• Tapis Corporation
• The Mitchell Group
• The Rishabh Velveleen Ltd
• Toray Industries Inc.
• WINIW International Co. Ltd.
• Zhejiang Meisheng New Material Co. Ltd.
   

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

High End Synthetic Suede Market News:

• In October 2023, Asahi Kasei invested in a U.S.-based startup, NFW to produce non-petroleum-based leather alternative for car interiors. This strategic partnership enables another major step to support global automotive OEMs in reducing the environmental burden of automobiles. This cooperation with NFW is also the first project within Asahi Kasei’s “Care for Earth” investment framework.
• In May 2024, Meisheng Group started a new ANDRITZ needlepunch line at its facility in Shaoxing City, Zhejiang Province, China. It is the third line supplied by ANDRITZ to the renowned manufacturer of high-end nonwoven synthetic leather. This expansion will enable Meisheng to address the growing demand for synthetic suede in the automotive industry, majorly for new energy vehicles (NEVs).

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the the high end synthetic suede market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global the high end synthetic suede market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the the high end synthetic suede industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.