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The synthetic leather market size is forecast to increase by USD 25.3 billion, at a CAGR of 9.42% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand from developing economies and customization trends. This segment is projected to expand at a robust pace due to its cost-effectiveness and versatility compared to natural leather. PU-based and PVC-based synthetic leathers are particularly popular for their durability and aesthetic appeal. Additionally, fluctuating raw material prices, primarily for petroleum and synthetic polymers, pose both challenges and opportunities for market participants. Producers can capitalize on these price fluctuations by optimizing their production processes and exploring alternative raw materials. The market is further fueled by the growing adoption of synthetic leather in various industries, including automotive, fashion, and furniture, due to its sustainability and wide range of applications.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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