Non-leather Products Market Growing Trade Among Emerging Economies Opening New Business-Opportunities
With rising awareness about animal cruelty and
strict regulatory policies issued by the governmental and regulatory
authorities, the non-leather products market is expected to witness a highly
promising growth. There are several other materials that are used in place of
non-leather products such as artificial leather (also called as synthetic or
vegan leather) along with other materials. These non-leather materials are
mainly promoted to promote animal safety and eliminating animal cruelty.
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Non-leather materials are typically used across
several application industries such as upholstery, footwear, clothing, and
fabric among others. These materials provide leather like finish and higher
sustainability. It is cost efficient that the actual leather product and also
suitable for other related tasks. In recent years, the production process has
evolved for shell coating to be on the top of the list of the manufacturers.
In recent years, the global demand has witness a
paradigm shift because of the growing applications across different end user
application industries such as clothing, bags, automotive, and furnishing among
others. Manufacturers have been promoting their sources, shifting particularly
to the suppliers in the Asia Pacific region. Countries such as Vietnam and
China have been the chief area of attraction because of the availability of
large amounts of raw materials and cheaper freight and labor expenses.
However, in the past few months, the outbreak of the
COVID-19 pandemic across the world has considerably impacted the overall market
demand for non-leather products. This is mainly because of the preventive and
safeguarding measures implemented by different governments in order to stem the
spread of the virus. This has thus led to a drop in demand as well as trade of
non-leather products across the world and is expected to have an inhibiting
impact on market’s overall development in the coming years of the forecast
period ranging from 2018 to 2026
Non-leather Products
Market – Snapshot
Non-leather products are products that are not made
up of animal leather. Non-leather materials are artificial leather,
leatherette, vegan leather, PU leather, and pleather. Non-leather products are
cruelty-free products. They are cheaper than the original leather products.
They are processed with different chemicals using various industrial processes.
Non-leather materials include synthetic leather and vegan leather, which is
made up of backcloth, cork, recycled ultra-suede, glazed cotton, paper, PET,
and polyurethane.
Key players operating in the global non-leather
products market need to focus on promoting benefits of using non-leather
products. Major players are engaged in establishing new facilities and enter
into acquisitions and mergers to develop and launch new products. These
strategies are likely to propel the non-leather products market during the
forecast period. On January 23, 2018, Pou Chen Corporation announced a proposal
to privatize Pou Sheng International Ltd, its Hong Kong-based subsidiary
responsible for sportswear retailing in China.
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The Board of Directors of Pou Chen Corporation
approved the plan to spend US$ 1.39 Bn to completely acquire Pou Sheng
International Ltd. On March 22, 2018, NIKE, Inc. announced plans to acquire
Zodiac Inc., a leading customer data analytics company based in New York City
and Philadelphia (the U.S.), in order to strengthen its digital capabilities
and accelerate its consumer direct offense strategy.
Key players operating in the global
non-leather products market include Pou Chen Corporation, Nike, Inc., PUMA SE,
Adidas AG, ASICS Corporation, Samsonite International S.A., The LVMH Group, VF
Corporation, VIP Industries Ltd., Gabriel A/S, Inditex Group, Dicitex
Furnishing, Kvadrat A/S, MATT & NAT, Delsey SA, and Decathlon Group.
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