Synthetic Leather Market: Industry Trends and Global Forecasts, Till 2035

Synthetic Leather Market: Industry Trends and Global Forecasts, Till 2035

The synthetic leather market is valued at USD 41.73 billion in 2024, growing at a CAGR of 7.02% during the forecast period, till 2035.

Synthetic leather has garnered significant attention from manufacturers and consumers in recent years due to its benefits over conventional leather, including enhanced customization options and cost-effectiveness. In addition, owing to its resistance to stains and abrasion, waterproof capabilities, washability, breathability, heat resistance, and lightweight properties, synthetic leather is increasingly being adopted across various sectors, such as automotive, fashion accessories like bags and wallets, clothing, electronics, footwear, and upholstery.

Synthetic leather is produced from a variety of raw materials, including polyurethane (PU), polyvinyl chloride (PVC), and an array of bio-based agricultural byproducts, such as banana stems, cactus, mango peels, and pineapple waste. However, in recent years, there has been a growing focus on sustainability, which has led to the increased adoption of bio-based synthetic leathers derived from these natural materials. This shift not only decreases dependence on fossil fuel-derived materials but also encourages the utilization of renewable resources that support a circular economy.

Over the years, the evolving needs of various industries and technological advancements have contributed to an increase in consumer demand for sustainable leather alternatives. Due to these driving factors, the synthetic leather market will likely experience robust growth during the forecasted period. Key Market Segments

Type of Raw Material

• Bio-based
• Polyurethane
• Polyvinyl Chloride
• Water-based

Type of Application

• Automotive
• Bags and Wallets
• Clothing
• Electronics
• Footwear
• Furnishing / Upholstery
• Other Applications

Customer Preference

• Breathable
• Heat-Resistant
• Lightweight
• Stain / Abrasion Resistant
• Washable
• Waterproof
• Other Customer Preference

Type of Sector

• Organized
• Unorganized

Geographical Regions

• North America (US and Mexico)
• Europe (Belgium, France, Germany, Italy, Netherlands, Poland, Serbia, Spain, Sweden and UK)
• Asia (Bangladesh, China, India, Indonesia, Japan, Pakistan, South Korea, Taiwan, Thailand and Vietnam)
• Middle East and North Africa (Egypt, Israel and Turkey)
• Latin America (Brazil)
• Rest of the World (Australia)

Research Coverage:

The report on synthetic leather market covers the following elements:

• An outline of the structured research methodology employed in the investigation of synthetic leather, detailing the assumptions, methodologies, and quality assurance measures used to ensure the accuracy and dependability of our results.
• An overview of the economic variables affecting the synthetic/artificial leather market, including historical trends, currency volatility, foreign exchange impact, recessions, and inflation assessments.
• An executive summary that summarizes the insights obtained from our research, highlighting essential findings about the present scenario of the synthetic leather market and its expected evolution in both the short and long term.
• A detailed assessment of synthetic leather market landscape, based on several relevant parameters, including type of raw material, type of application and type of feature. Further, this section evaluates the manufacturers landscape, based on their year of establishment, company size and location of headquarters.
• A detailed value chain analysis featuring information related to various steps and stakeholders involved in the manufacturing of synthetic leather.
• An in-depth analysis of the patents that have been filed / granted for synthetic leather, based on important parameters, such as type of patent, patent application year, patent publication year, geography, emerging focus area, type of organization, leading industry and non-industry players (in terms of number of patents filed / granted), and individual patent assignees (in terms of intellectual property portfolio size).
• A discussion on market trends, key drivers and challenges, under a SWOT framework, that are likely to influence the industry’s evolution.
• A comprehensive assessment of the current market size and the future growth potential of the synthetic leather market, over the next decade. This section also outlines the likely distribution of the current and forecasted opportunity within the synthetic leather industry across various segments. Further, in order to account for future uncertainties and to add robustness to our model, three forecast scenarios, namely conservative, base, and optimistic scenarios, are included to represent different trajectories for industry growth.
• Detailed estimation of the current and future opportunity in the synthetic leather market across various types of raw materials, such as bio-based, polyurethane, polyvinyl chloride and water-based.
• Detailed estimation of the current and future opportunity in the synthetic leather market across various types of applications, such as automotive, bags and wallets, clothing, electronics, footwear, furnishing / upholstery and other applications.
• Detailed estimation of the current and future opportunity in the synthetic leather market across various customer preferences, such as breathable, heat-resistant, lightweight, stain / abrasion resistant, washable, waterproof and other customer preferences.
• Detailed estimation of the current and future opportunity in the synthetic leather market across various types of sectors, such as organized and unorganized.
• Detailed estimation of the current and future opportunity in the synthetic leather market across various geographical regions, such as North America (US and Mexico), Europe (Belgium, France, Germany, Italy, Netherlands, Poland, Serbia, Spain, Sweden and UK), Asia (Bangladesh, China, India, Indonesia, Japan, Pakistan, South Korea, Taiwan, Thailand, Vietnam), Middle East and North Africa (Egypt, Israel and Turkey), Latin America (Brazil) and rest of the world (Australia).
• Detailed transcripts from interviews conducted with various stakeholders in the industry.

Key Benefits of Buying this Report

• The report provides valuable insights to market leaders and newcomers related to revenue estimations of the overall market and its sub-segments. The report provides valuable insights into revenue estimations for both the overall market and its sub-segments.
• Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
• The report provides stakeholders an overall outlook of the synthetic leather market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.

Example Companies Profiled

• Alfatex Italia
• Desserto
• FILWEL
• H.R. Polycoats
• Kuraray
• Mayur Uniquoters
• Modern Meadows
• MycoWorks
• NAN YA PLASTICS
• Nirmal Fibers
• Responsive Industries
• San Fang Chemical
• Teijin Cordley
• Wanhua Chemical
• Zhejiang Hexin Holdings