Market by Type, End-use, and Country Outlook | Forecast 2023-2030
Triton’s research report suggests that the synthetic leather market in Latin America is anticipated to witness progress with a CAGR of 7.05% in revenue and 6.81% in volume over the forecasting period 2023-2030.
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The
countries evaluated in the region are:
•       Â
Brazil
•       Â
Mexico
•       Â
Rest of Latin America
In
the region, Brazil holds the highest shares in the synthetic leather market. The real estate development has resulted in
high demand for furniture. Moreover, government initiatives have fueled
infrastructure development, supporting the furniture industry. Automotive
production is another sector that has witnessed substantial development over
the past few years. Therefore, the growing furniture and automotive sectors
open several avenues for the synthetic leather market.
In Brazil, the extensive production of footwear
and strong ties with the US leather market creates lucrative growth
opportunities for the studied market. Moreover, there is a rising demand for
products like bags, travel accessories, and clothes, which has created high
demand for eco-friendly and low-cost raw materials. Therefore, as mentioned
above, these factors are anticipated to propel the synthetic leather market on
a progressive path over the forecast period.
Further, the growth of end-user industries like
footwear, apparel, and automotive has significantly contributed to the market’s
growth in Mexico. As per the International Trade Administration, Mexico is the
sixth largest vehicle manufacturer worldwide. Moreover, the nation produces a
wide range of consumer electronics products and smaller components. This growth
is anticipated to elevate the demand for synthetic leather, thereby driving the
market on a progressive path.
In the automotive industry, synthetic leather is
used for interiors, such as seat covers for buses, trucks, trains, etc. It is
also used in other parts, including gear boot, roof lining, and door covering.
The growing vehicle industry has increased the adoption of synthetic leather. The market growth is determined based on
end-use and type. Based on end-use, it is categorized into automotive,
clothing, furnishing, footwear, bags & wallets, and other end-uses.
The
key companies in the studied market consist of BASF SE, Toray Industries Inc,
Alfatex Italia SRL, and Kuraray Co Ltd.
Toray Industries Inc is a manufacturer of fibers
and textiles, performance chemicals, composite materials, and others. The
company’s product line includes apparel, resins, chemicals, and fibers. It has
over 201 subsidiaries across the globe. As of March 2022, the company recorded
around $160 million in revenue. Toray has operations spread across multiple
regions, including Latin America.
Key deliverables of the report:
â—ŹÂ Â Â Â Â Market CAGR during the forecasting years 2023-2030
â—ŹÂ Â Â Â Â Detailed data highlighting key insights, industry components, and market strategies
â—ŹÂ Â Â Â Â Comprehensive information and estimation of the synthetic leather market revenue growth in Latin America and its influence on the parent market
â—ŹÂ Â Â Â Â In-depth study of forthcoming trends in consumer behavioral patterns
●     A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces
â—ŹÂ Â Â Â Â
A wide-ranging study of factors that will challenge the LA
synthetic leather market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.Â
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VIEW REPORT1. LATIN
AMERICA SYNTHETIC LEATHER MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. PARENT
MARKET OVERVIEW
2.2. MANUFACTURING
PROCESS OVERVIEW
2.3. IMPACT
ANALYSIS ON THE SYNTHETIC LEATHER MARKET
2.3.1. COVID-19
IMPACT ON THE SYNTHETIC LEATHER MARKET
2.4. KEY
INSIGHTS
2.4.1. RISING
DEMAND FROM VARIOUS END-USE INDUSTRIES
2.4.2. NOVEL
USES FOR SYNTHETIC LEATHER
2.5. PORTER’S
FIVE FORCES ANALYSIS
2.5.1. THREAT
OF NEW ENTRANTS
2.5.2. THREAT
OF SUBSTITUTES
2.5.3. BARGAINING
POWER OF BUYERS
2.5.4. BARGAINING
POWER OF SUPPLIERS
2.5.5. THREAT
OF COMPETITIVE RIVALRY
2.6. MARKET
MATURITY ANALYSIS
2.7. INDUSTRY
COMPONENTS
2.7.1. RAW
MATERIAL SUPPLIERS
2.7.2. MANUFACTURERS
2.7.3. DISTRIBUTORS
2.7.4. END-USERS
2.8. KEY
BUYING IMPACT ANALYSIS
2.8.1. COST
2.8.2. DURABILITY
2.8.3. RAW
MATERIAL
2.9. REGULATORY
FRAMEWORK
2.10. KEY
MARKET STRATEGIES
2.10.1. PRODUCT
LAUNCHES
2.10.2. COLLABORATIONS
2.10.3. BUSINESS
EXPANSIONS & DIVESTITURES
2.10.4. ACQUISITIONS
2.11. MARKET
DRIVERS
2.11.1. AFFORDABLE
ALTERNATIVE TO REAL LEATHER
2.11.2. SHIFT
TOWARD ANIMAL-FREE AND SUSTAINABLE PRODUCTS
2.12. MARKET
CHALLENGES
2.12.1. DIFFERENT
CHARACTERISTICS OF SYNTHETIC LEATHER COMPARED TO REAL LEATHER
2.12.2. PROCESSING
CONCERNS REGARDING POLYURETHANE (PU) AND POLYVINYL CHLORIDE (PVC)
2.13. MARKET
OPPORTUNITY
2.13.1. POPULAR
DEMAND FOR BIO-BASED SYNTHETIC LEATHER
2.14. ANALYST
PERSPECTIVE
3. LATIN
AMERICA SYNTHETIC LEATHER MARKET OUTLOOK - BY TYPE
3.1. POLYURETHANE
(PU)
3.2. POLYVINYL
CHLORIDE (PVC)
3.3. BIO-BASED
4. LATIN
AMERICA SYNTHETIC LEATHER MARKET OUTLOOK - BY END-USE
4.1. FOOTWEAR
4.2. AUTOMOTIVE
4.3. FURNISHING
4.4. CLOTHING
4.5. BAGS
& WALLETS
4.6. OTHER
END-USES
5. LATIN
AMERICA SYNTHETIC LEATHER MARKET – COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. BRAZIL
5.1.1.1. BRAZIL
SYNTHETIC LEATHER MARKET FORECAST & PROSPECTS
5.1.2. MEXICO
5.1.2.1. MEXICO
SYNTHETIC LEATHER MARKET FORECAST & PROSPECTS
5.1.3. REST
OF LATIN AMERICA
5.1.3.1. REST
OF LATIN AMERICA SYNTHETIC LEATHER MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. BASF
SE
6.1.1. OVERVIEW
6.1.2. FINANCIAL
OVERVIEW
6.1.3. PRODUCT
PORTFOLIO
6.1.4. KEY
STRENGTHS
6.1.5. KEY
CHALLENGES
6.2. HR
POLYCOATS PVT LTD
6.2.1. OVERVIEW
6.2.2. FINANCIAL
OVERVIEW
6.2.3. PRODUCT
PORTFOLIO
6.2.4. KEY
STRENGTHS
6.2.5. KEY
CHALLENGES
6.3. NAN YA
PLASTICS CORPORATION INC
6.3.1. OVERVIEW
6.3.2. FINANCIAL
OVERVIEW
6.3.3. PRODUCT
PORTFOLIO
6.3.4. KEY
STRENGTHS
6.3.5. KEY
CHALLENGES
6.4. ACHILLES
USA INC
6.4.1. OVERVIEW
6.4.2. FINANCIAL
OVERVIEW
6.4.3. PRODUCT
PORTFOLIO
6.4.4. KEY
STRENGTHS
6.4.5. KEY
CHALLENGES
6.5. TORAY
INDUSTRIES INC
6.5.1. OVERVIEW
6.5.2. FINANCIAL
OVERVIEW
6.5.3. PRODUCT
PORTFOLIO
6.5.4. KEY
STRENGTHS
6.5.5. KEY
CHALLENGES
6.6. ALFATEX
ITALIA SRL
6.6.1. OVERVIEW
6.6.2. FINANCIAL
OVERVIEW
6.6.3. PRODUCT
PORTFOLIO
6.6.4. KEY
STRENGTHS
6.6.5. KEY
CHALLENGES
6.7. TEIJIN
LIMITED
6.7.1. OVERVIEW
6.7.2. FINANCIAL
OVERVIEW
6.7.3. PRODUCT
PORTFOLIO
6.7.4. KEY
STRENGTHS
6.7.5. KEY
CHALLENGES
6.8. MAYUR
UNIQUOTERS LIMITED
6.8.1. OVERVIEW
6.8.2. FINANCIAL
OVERVIEW
6.8.3. PRODUCT
PORTFOLIO
6.8.4. KEY
STRENGTHS
6.8.5. KEY
CHALLENGES
6.9. SAN
FANG CHEMICAL INDUSTRY CO LTD
6.9.1. OVERVIEW
6.9.2. FINANCIAL
OVERVIEW
6.9.3. PRODUCT
PORTFOLIO
6.9.4. KEY
STRENGTHS
6.9.5. KEY
CHALLENGES
6.10. KURARAY
CO LTD
6.10.1. OVERVIEW
6.10.2. FINANCIAL
OVERVIEW
6.10.3. PRODUCT
PORTFOLIO
6.10.4. KEY
STRENGTHS
6.10.5. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 2: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN MILLION METERS)
TABLE 3: COUNTRY-WISE
REGULATORY FRAMEWORK FOR SYNTHETIC LEATHER
TABLE 4: LIST OF PRODUCT
LAUNCHES
TABLE 5: LIST OF
COLLABORATIONS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: LIST OF ACQUISITIONS
TABLE 8: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY TYPE, 2023-2030 (IN $ MILLION)
TABLE 9: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY TYPE, 2023-2030 (IN MILLION METERS)
TABLE 10: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY END-USE, 2023-2030 (IN $ MILLION)
TABLE 11: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY END-USE, 2023-2030 (IN MILLION METERS)
TABLE 12: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 13: LATIN AMERICA
SYNTHETIC LEATHER MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN MILLION METERS)
FIGURE
1: MANUFACTURING PROCESS OVERVIEW
FIGURE
2: MARKET MATURITY ANALYSIS
FIGURE
3: INDUSTRY COMPONENTS
FIGURE
4: KEY BUYING IMPACT ANALYSIS
FIGURE
5: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY TYPE, 2022 & 2030 (IN %)
FIGURE
6: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY POLYURETHANE (PU), 2023-2030 (IN
$ MILLION)
FIGURE
7: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY POLYVINYL CHLORIDE (PVC),
2023-2030 (IN $ MILLION)
FIGURE
8: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY BIO-BASED, 2023-2030 (IN $
MILLION)
FIGURE
9: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY END-USE, 2022 & 2030 (IN %)
FIGURE
10: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY FOOTWEAR, 2023-2030 (IN $
MILLION)
FIGURE
11: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY AUTOMOTIVE, 2023-2030 (IN $
MILLION)
FIGURE
12: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY FURNISHING, 2023-2030 (IN $
MILLION)
FIGURE
13: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY CLOTHING, 2023-2030 (IN $
MILLION)
FIGURE
14: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY BAGS & WALLETS, 2023-2030
(IN $ MILLION)
FIGURE
15: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY OTHER END-USES, 2023-2030 (IN $
MILLION)
FIGURE
16: LATIN AMERICA SYNTHETIC LEATHER MARKET, BY COUNTRY OUTLOOK, 2022 & 2030
(IN %)
FIGURE
17: BRAZIL SYNTHETIC LEATHER MARKET 2023-2030 (IN $ MILLION)
FIGURE
18: MEXICO SYNTHETIC LEATHER MARKET 2023-2030 (IN $ MILLION)
FIGURE
19: REST OF LATIN AMERICA SYNTHETIC LEATHER MARKET 2023-2030 (IN $ MILLION)
FIGURE
20: BASF SE - COMPANY NET REVENUE IN 2017-2021 (IN $ MILLION)
FIGURE
21: BASF SE - COMPANY NET INCOME IN 2017-2021 (IN $ MILLION)
FIGURE
22: BASF SE - COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE
23: BASF SE - COMPANY REVENUE, BY REGION, IN 2021 (IN %)
FIGURE
24: NAN YA PLASTICS CORPORATION - COMPANY REVENUE IN 2017-2021 (IN $ MILLION)
FIGURE
25: NAN YA PLASTICS CORPORATION - COMPANY NET INCOME IN 2017-2021 (IN $
MILLION)
FIGURE
26: NAN YA PLASTICS CORPORATION - COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE
27: NAN YA PLASTICS CORPORATION - COMPANY REVENUE, BY REGION, IN 2021 (IN %)
FIGURE
28: TORAY INDUSTRIES INC - COMPANY REVENUE IN 2017-2021 (IN $ MILLION)
FIGURE
29: TORAY INDUSTRIES INC - COMPANY NET INCOME, IN 2017-2021 (IN $ MILLION)
FIGURE
30: TORAY INDUSTRIES INC - COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE
31: TORAY INDUSTRIES INC - COMPANY REVENUE, BY REGION, IN 2021 (IN %)
FIGURE
32: TEIJIN LIMITED - COMPANY REVENUE IN 2017-2021 (IN $ BILLION)
FIGURE
33: TEIJIN LIMITED - COMPANY NET INCOME IN 2017-2021 (IN $ MILLION)
FIGURE
34: TEIJIN LIMITED - COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE
35: TEIJIN LIMITED - COMPANY REVENUE, BY REGION, IN 2021 (IN %)
FIGURE
36: MAYUR UNIQUOTERS LIMITED - COMPANY REVENUE IN 2017-2021 (IN $ MILLION)
FIGURE
37: MAYUR UNIQUOTERS LIMITED - COMPANY NET INCOME IN 2017-2021 (IN $ MILLION)
FIGURE
38: MAYUR UNIQUOTERS LIMITED - COMPANY REVENUE, BY REGION, IN 2021 (IN %)
FIGURE
39: SAN FANG CHEMICAL INDUSTRY CO LTD - COMPANY REVENUE IN 2017-2021 (IN $
MILLION)
FIGURE
40: SAN FANG CHEMICAL INDUSTRY CO LTD - COMPANY NET INCOME IN 2017-2021 (IN $
MILLION)
FIGURE
41: KURARAY CO LTD - COMPANY REVENUE IN 2017-2021 (IN $ MILLION)
FIGURE
42: KURARAY CO LTD - COMPANY NET INCOME IN 2017-2021 (IN $ MILLION)
FIGURE
43: KURARAY CO LTD - COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)