LATIN AMERICA SYNTHETIC LEATHER MARKET 2023-2030

Chemicals & Materials | Polymers And Resins

LATIN AMERICA SYNTHETIC LEATHER MARKET 2023-2030

Market by Type, End-use, and Country Outlook | Forecast 2023-2030

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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:

•         Brazil

•         Mexico

•         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:

      Market CAGR during the forecasting years 2023-2030

      Detailed data highlighting key insights, industry components, and market strategies


      Comprehensive information and estimation of the synthetic leather market revenue growth in Latin America and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces


      A wide-ranging study of factors that will challenge the LA synthetic leather market’s growth during the upcoming years

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Table of Content

1. 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

List of Tables

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)

List of Figures

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 %)

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