Current Demand and Developing Trends in the GCC Synthetic Leather Market – MarkNtel Advisors

GCC Synthetic Leather Market research report by Markntel Advisors is an accurate, unbiased, and reliable comprehension and study of data obtained from trustworthy and factual sources to equip the stakeholder with a well-researched and detail-driven report regarding the fluctuations in the industry.

The report aims to provide detailed information about the nooks and crannies of the industry and scrutinize all the industry’s features, factors, and elements that promise fluctuations to the market growth, including possible restraints points and more.

The Key Points Covered in The Report:

• The report is compiled systematically and methodically, with each section neatly covering its essence and influence in the market. Likewise, the report provides a credible selection of market dynamics consisting of the following major pillars of the industry’s study.
  • Market Drivers
  • Market Restraints
  • Growth Opportunities
  • Challenges
• A separate section to provide the impact of COVID-19 on the market to better grasp the fluctuation during and after the pandemic. 
• Elaborated information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, technological advancement, the further scope for improvement, applications, and more. 

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Dynamics of Market -

Market Geographical Dividation – The research report geographically covers: -

• UAE
• Saudi-Arabia
• Qatar
• Oman
• Bahrain
• Kuwait

Market Driver: Ever-Increasing Use of Synthetic Leather in Furniture Upholstery Applications

The surging use of Polyurethane (PU) and polyvinyl chloride (PVC)-based synthetic leather in furniture & domestic upholstery is primarily due to properties offered by them like high dispersion ability & matting efficiency. Moreover, the rising demand for attractive furniture, mounting disposable income, and living standards have also increased the demand for synthetic leather in the past few years. Hence, these aspects are likely to drive the GCC Synthetic Leather Market during 2023-28.

Market Growth Restraints: High Level of Maintenance Required for Prolonged Lifespan

Prolonged exposure to heat & moisture rapidly degrades the quality of synthetic leather, owing to which it gets chemically treated to attain resistance to sunlight, scratches, and fire. Consequently, its lifespan becomes shorter than traditional leather. Though it is available at affordable prices, it requires a high level of care & maintenance to be protected from direct sun rays in order to extend its lifespan. Hence, commercial end-users tend to refrain from opting for these products, i.e., the prime aspect projected to hamper the product sales and hinder the growth of the GCC Synthetic Leather Market during 2023-28.

 Analysis of Market Leading Companies

This report section covers the area in combination with an exhaustive compilation of the key players and market participants in the market, fuelling, stimulating, and regulating the industry. In addition, the report covers the business strategies, plans, initiatives, profit/loss study, mergers & acquisitions, product launches, modifications, and more to equip the stakeholder with calculative tools towards yielding higher profits. Thus, for the GCC Synthetic Leather market, the top market participants include: -

• Kuraray Co., Ltd.
• R. Polycoats Pvt. Ltd.
• Nan Ya Plastics Corporation
• Teijin Limited
• Wanhua Chemical Group Co.,Ltd.
• Alfatex Italia SRL
• San Fang Chemical Industry Co. Ltd
• Filwel Co. Ltd
• Mayur Uniquoters Limited
• Zhejiang Hexin Industry Group Co., Ltd.

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Segmental Division of the Market

The market is highly divaricated and bifurcates into various segments. These bifurcations are represented in the report grouped on the basis of a common element, and thus further investigation is performed. Furthermore, the report provides data on each high-performer segment in each group of features and information about the reasons behind the part acquiring a higher share or flourishing more in the industry. Thus, a deep analysis of various market elements is presented by categorizing the segments. As a result, the market is spread in the following:

By Type

• Polyurethane (PU) Based
• Polyvinyl Chloride (PVC) Based
• Bio-Based

By Application

• Footwear (Sports Shoes, Formal Shoes & Boots and Sandals & Slippers)
• Furnishing (Chairs, Sofa, Bean Bags and others)
• Automotive (Seats, Steering Wheel Covers, Door Trim, Knob and Gear Bot Covers)
• Clothing (Belts, Jackets, Tops, Pants and others)
• Accessories (Bag, Purses, wallet)
• Electronics (Cases & Covers)

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The analysts provide customization offers, so the stakeholder can customize and personalize the report to their needs and wants. The analysts focus on the required elements and sculpt the study according to the wishes of the stakeholders. Additionally, the research report focuses on the systematic organization of data, with each section divided into chapters and further classifications to present an easy, time-saving, and smoothly navigable study. The elements surrounding and shaping the GCC Synthetic Leather industry, including the industry’s profit-loss cycle, major and minor acquisitions and external factors, current trends, and more, are included in the study report.

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