Market Overview:

The Global Synthetic Leather Market size was reasonably estimated to be approximately USD 38978.9 Million in 2023 and is poised to generate revenue of over USD 51210 Million by the end of 2030, projecting a CAGR of around 5.61% from 2023 to 2030.

Synthetic leather, also known as faux leather or artificial leather, is a man-made material designed to look and feel like real leather. It is a type of fabric that is made by applying a coating of plastic or polymer to a base material such as fabric or paper. The base material is then treated with various chemicals to make it more durable, flexible, and resistant to wear and tear. The most common types of synthetic leather are polyurethane (PU) leather and polyvinyl chloride (PVC) leather. PU leather is made by coating a fabric or paper base material with a layer of polyurethane, while PVC leather is made by coating a fabric or paper base material with a layer of PVC. Other types of synthetic leather include bio-based leather, which is made from natural materials such as pineapple leaves or mushrooms, and other innovative materials such as silicone leather.

Top Key Players Covered in The Synthetic Leather Market:

• • Kuraray Co., Ltd. (Japan)
  • San Fang Chemical Industry Co. Ltd. (Taiwan)
  • Mayur Uniquoters Ltd. (India)
  • NAN YA PLASTICS CORPORATION (Taiwan)
  • Teijin Limited (Japan)
  • Filwel Co. Ltd. (Japan)
  • Alfatex (Italy)
  • Zhejiang Hexin Industry Group Co. Ltd. (China)
  • DuPont de Nemours Inc. (USA), and Other Major Players

Market Dynamics and Factors:         

The synthetic leather market is driven by several factors, including its cost-effectiveness compared to genuine leather, increasing demand for animal-free products, and technological advancements leading to improved quality and durability of synthetic leather. The growing awareness about animal welfare and environmental concerns associated with traditional leather production also boost the market. Opportunities in the synthetic leather market include its versatility, which allows for a wide range of applications in various industries such as fashion, automotive, and furniture. The market is also benefited by the increasing disposable income and changing consumer preferences for sustainable and cruelty-free products. However, there are some restraints that can hinder the market growth, such as the limited breathability and durability of synthetic leather compared to genuine leather. Additionally, the market faces competition from other alternative materials, as well as challenges related to the disposal and recycling of synthetic leather products.

The Synthetic Leather Market Report Highlight:

• • By type, the polyvinylchloride (PVC) segment of the synthetic leather market is experiencing growth due to its versatility, cost-effectiveness, and durability. PVC synthetic leather offers a wide range of applications across various industries such as automotive, footwear, and upholstery. Its ability to mimic the look and feel of genuine leather while being more affordable and easier to maintain makes it a popular choice among consumers and manufacturers alike, thus driving its growth in the market.
  • By Size, Synthetic leather offers durability, versatility, and cost-effectiveness compared to genuine leather, making it an attractive choice for footwear manufacturers. Additionally, advancements in manufacturing techniques have improved the quality and aesthetics of synthetic leather, enhancing its appeal to consumers. Furthermore, increasing awareness about animal welfare and environmental concerns associated with genuine leather has driven the demand for synthetic alternatives in the footwear industry, further fueling its growth.
  • By Region, Asia Pacific is Expected to Dominate the Market Over the Forecast period. Asia Pacific is driving the Global Synthetic Leather Market due to the presence of a large number of manufacturers, increasing demand for synthetic leather products, and growing industrialization and urbanization in the region. China, in particular, is a major producer of synthetic leather and accounts for a significant share of the global market. The country has a large number of manufacturers that produce synthetic leather for various applications such as footwear, automotive, and furnishing.

Key Industry Development:

• • In 2020, the San Fang Chemical Industry Co. Ltd announced the launch of a new eco-friendly synthetic leather material made from recycled plastic bottles. This product is designed to meet the increasing demand for sustainable and environmentally-friendly materials in various industries.
  • In 2020, Teijin Limited announced the development of a new synthetic leather material that has a soft, luxurious feel and a high degree of durability. This product is designed to meet the growing demand for high-quality synthetic leather materials in the fashion and automotive industries.

The Synthetic Leather Market Segmentation:

By Type    

• • Polyurethane (PU)
  • Polyvinylchloride (PVC)
  • Bio-Based

By Application     

• • Footwear
  • Furniture
  • Automotive
  • Textile
  • Sports
  • Electronics
  • Others

For this report, Pristine Intelligence has segmented the Synthetic Leather Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

• • The U.S.
  • Canada
  • Mexico

Eastern Europe

• • Bulgaria
  • The Czech Republic
  • Hungary
  • Poland
  • Romania
  • Rest of Eastern Europe

Western Europe

• • Germany
  • UK
  • France
  • Netherlands
  • Italy
  • Russia
  • Spain
  • Rest of Western Europe

Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Australia
  • New-Zealand
  • Rest of APAC

Middle East & Africa

• • Turkey
  • Bahrain
  • Kuwait
  • Saudi Arabia
  • Qatar
  • UAE
  • Israel
  • South Africa

South America

• • Brazil
  • Argentina
  • Rest of SA