Synthetic Leather Market was valued at USD 60.9 Billion in 2023. Synthetic Leather Market size is estimated to grow at a CAGR of 8.4% between forecasting periods of 2024-2030.Synthetic Leather Market Overview:
Synthetic leather is a material, which is proposed to substitute for leather in the areas like upholstery, clothing, footwear and fabrics and others. It is marketed under many names, including leatherette, vegan leather, faux leather, PU leather and pleather. Currently, synthetic leather has gained universal acceptance. It is used as an alternative for genuine leather because it is less expensive and does not require any genuine animal hide. World population grew dramatically and it continues to grow at present. The growth in population and wealth are expected to increase demand for leather. In the current market scenario, key companies are focusing on deployment of alternatives to genuine leather. They are concentrating on the production of leather with the raw material like PU, PVC and bio-based, without involving killing animals, and manmade ingredients.To know about the Research Methodology :- Request Free Sample Report
Synthetic Leather Market Dynamics:
Development of bio-based synthetic leather drives the market The production of bio-based leather is highly influenced by the strict environmental regulations. The regulatory bodies are encouraging vegan leather or bio-based leather. Raw materials like polyurethane (PU) and polyvinyl chloride (PVC) are used to manufacture synthetic leather, which are harmful to human and animal health. It is expected to led to develop the bio-based leather. The production process of the bio-based leather does not require any harmful effects over PU/PVC based leather. Key players are focusing on the manufacturing process of bio-based leather with the help of natural fibers like flax or fibers of cotton mixed. Government initiative for sustainability in leather and footwear sector In India, 100% FDI has permitted under the sector under automatic route. The Government is implementing the Indian Footwear, Leather and Accessories Development Programme to support finance provided for core areas namely capacity augmentation and technological upgradation of production units, upgradation of CETPs, HRD, establishment of institutional facilities. The government is expected to extend an incentive scheme for leather and footwear industries till 2029 with an expenditure of Rs 1,700 crore to further boost leather manufacturing product and exports. With the huge market potential support and ease of doing business measures, the Government have made Indian leather and footwear industry as investment destination.Synthetic Leather Market Segment Analysis:
Footwear Industry has huge potential for synthetic leather growth The footwear sector is an engine of growth for the entire synthetic leather industry. Synthetic leather is used in the footwear industry because of its high durability. The standard of living and urban population is expected to drive the demand for footwear. The growth in demand for leather is driven by the fashion industry, particularly footwear. India is the second largest consumer of footwear in the world. With the presence of the inherent strengths of a huge raw material base, skilled manpower, and the application of modern technology, the country has established its reputation as a supplier of high-quality leather goods. A shift of preference by customers and fashion brands for a sustainable and cruelty-free substitute is expected to boost the demand for leather footwear. The economic growth and demographic profile of developing nations like China, and India are compelling key opportunities for footwear brands. The footwear segment has contributed more than xx% share in 2023. An increase in disposal income, and trend of wearing athletic shoes in daily lifestyle are expected to boost the production of the synthetic leather. High population growth in the region with the development of innovative technology is expected to make the Asia Pacific region an ideal destination for investment in the synthetic leather industry. China is the largest leather-producing country. The abundance of raw materials in the country has boosted its major share contribution in the regional market. India's Leather industry has accounted for around xx% of the world’s leather production. Tamil Nadu is the largest leather-producing state in India and contributes more than xx% of the total country production. An initiative of sustainability in the leather and footwear sector, the rise of vegan leather, the cruelty-free alternative to traditional animal leather is expected to drive the market growth in India. India has contributed more than xx% of the world’s footwear production, which also increases the demand for leather. India has exported leather, footwear, and leather products more than USD 2.7 Billion during 2023. The major markets for Indian Leather & Leather Products are the US with a share of xx%, Germany xx% U.A.E xx%, and Poland xx%.Synthetic Leather Market Regional Insights:
Asia Pacific is dominating market High population growth in the region with development of innovative technology are expected to make Asia pacific region as an ideal destination for investment in the synthetic leather industry. China is the largest leather producing country. The abundance of raw materials in the country has boosted its major share contribution in the regional market. India Leather industry has accounted around 13% of the world’s leather production. Tamil Nadu is the largest leather producing state in India and contributes more than 40% of the total country production. An initiative of sustainability in leather and footwear sector, rise of vegan leather, the cruelty-free alternative to traditional animal leather is expected to drive the market growth in India. India has contributed more than 9% of the world’s footwear production, which also increase the demand for leather. India has exported leather, footwear and leather products more than US $ 47.92 Bn during 2021. The major markets for Indian Leather & Leather Products are US with share of 18%, Germany 12% U.A.E 3.35%, and Poland 2.11%. The objective of the report is to present a comprehensive analysis of the global Synthetic Leather Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Synthetic Leather Market dynamic, structure by analyzing the market segments and projecting the Synthetic Leather Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Synthetic Leather Market make the report investor’s guide.Synthetic Leather Market Scope: Inquiry Before Buying
Synthetic Leather Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 60.9 Bn. Forecast Period 2024 to 2030 CAGR: 8.4% Market Size in 2030: US $ 87.4 Bn. Segments Covered: by Type PU (polyurethane) PVC (polyvinyl chloride) Bio based by End Use Industry Footwear Furnishing Automotive Clothing Bags Purses & Wallets Other Synthetic Leather Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Synthetic Leather Market, Key Players are:
1. Kuraray Co., Ltd. 2. Asahi Kasei Corporation 3. San Fang Chemical Industry Co., Ltd. 4. Toray Coatex Co. Ltd. 5. H.R. Polycoats Pvt. LTD. 6. ALFATEX 7. Filwel Co., Ltd. 8. Teijin Limited 9. Mayur Uniquoters Ltd. 10.Nan Ya Plastics Co. Ltd. 11.Filwel Co. Ltd. 12.Zhejiang Hexin Industry Group Co., Ltd. 13.Alfatex 14.H.R. Polycoats Pvt. Ltd. 15.Yantai Wanhua Synthetic Leather Group Co. Ltd. 16.Kolon Industries Inc 17.Toray Industries Inc 18.Anhui Material Type Co., Ltd.Frequently Asked Questions:
1. Which region has the largest share in Global Synthetic Leather Market? Ans: Asia Pacific region held the highest share in 2023. 2. What is the growth rate of the Global Synthetic Leather Market? Ans: The Global Synthetic Leather Market is growing at a CAGR of 8.4% during the forecasting period 2023-2030. 3. What is the scope of the Global Synthetic Leather Market report? Ans: Global Synthetic Leather Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. What is the study period of this Market? Ans: The Global Synthetic Leather Market is studied from 2023 to 2030.
1. Synthetic Leather Market: Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Global Synthetic Leather Market: Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Market share analysis of major players 2.4. Products specific analysis 2.5. Key Players Benchmarking 2.5.1. Company Name 2.5.2. Product Segment 2.5.3. End-user Segment 2.5.4. Revenue (2023) 2.6. Market Structure 2.6.1. Market Leaders 2.6.2. Market Followers 2.6.3. Emerging Players 2.7. Consolidation of the Market 2.7.1. Strategic Initiatives and Developments 2.7.2. Mergers and Acquisitions 2.7.3. Collaborations and Partnerships 2.7.4. Product Launches and Innovations 3. Patent Analysis: 3.1.1. Top 10 Patent Holders 3.1.2. Top 10 Companies with Highest Number of Patents 3.1.3. Patent Registration Analysis 3.1.4. Number of Patents Granted Still 2024 4. Global Synthetic Leather Market: Dynamics 4.1. Synthetic Leather Market Trends 4.2. Synthetic Leather Market Dynamics 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 5. Industry Ecosystem Analysis 6. Value and Supply Chain Analysis 7. Pricing Analysis 7.1. Average price of Synthetic Leather, by Region 7.2. Average price of Synthetic Leather, End User 8. Regulatory Landscape 8.1. Regulation by Region 8.2. Tariff and Taxes 8.3. Regulatory Bodies, Government agencies, and other organizations by Region 9. Trade Data Analysis: 9.1.1. Import/ Export of Synthetic Leather 9.1.2. Import Data on Synthetic Leather 9.1.3. Export Data on Synthetic Leather 10. Global Synthetic Leather Market Size and Forecast by Segments (by Value USD Billion) 10.1. Global Synthetic Leather Market Size and Forecast, by Type (2023-2030) 10.1.1. PU (polyurethane) 10.1.2. PVC (polyvinyl chloride) 10.1.3. Bio-based 10.2. Global Synthetic Leather Market Size and Forecast, by End User (2023-2030) 10.2.1. Furnishing 10.2.2. Automotive 10.2.3. Footwear 10.2.4. Bags & wallets 10.2.5. Clothing 10.2.6. Others 10.3. Global Synthetic Leather Market Size and Forecast, by Region (2023-2030) 10.3.1. North America 10.3.2. Europe 10.3.3. Asia Pacific 10.3.4. Middle East and Africa 10.3.5. South America 11. North America Global Synthetic Leather Market Size and Forecast (by Value USD Billion) 11.1. North America Global Synthetic Leather Market Size and Forecast, by Type (2023-2030) 11.1.1. PU (polyurethane) 11.1.2. PVC (polyvinyl chloride) 11.1.3. Bio-based 11.2. North America Global Synthetic Leather Market Size and Forecast, by End User (2023-2030) 11.2.1. Furnishing 11.2.2. Automotive 11.2.3. Footwear 11.2.4. Bags & wallets 11.2.5. Clothing 11.2.6. Others 11.3. North America Global Synthetic Leather Market Size and Forecast, by Country (2023-2030) 11.3.1. United States 11.3.1.1. United States Global Synthetic Leather Market Size and Forecast, by Type (2023-2030) 11.3.1.1.1. PU (polyurethane) 11.3.1.1.2. PVC (polyvinyl chloride) 11.3.1.1.3. Bio-based 11.3.1.2. United States Global Synthetic Leather Market Size and Forecast, by End User (2023-2030) 11.3.1.2.1. Furnishing 11.3.1.2.2. Automotive 11.3.1.2.3. Footwear 11.3.1.2.4. Bags & wallets 11.3.1.2.5. Clothing 11.3.1.2.6. Others 11.3.1.3. Canada 11.3.1.4. Canada Global Synthetic Leather Market Size and Forecast, by Type (2023-2030) 11.3.1.4.1. PU (polyurethane) 11.3.1.4.2. PVC (polyvinyl chloride) 11.3.1.4.3. Bio-based 11.3.1.5. Canada Global Synthetic Leather Market Size and Forecast, by End User (2023-2030) 11.3.1.5.1. Furnishing 11.3.1.5.2. Automotive 11.3.1.5.3. Footwear 11.3.1.5.4. Bags & wallets 11.3.1.5.5. Clothing 11.3.1.5.6. Others 11.3.1.6. Mexico 11.3.1.7. Mexico Global Synthetic Leather Market Size and Forecast, by Type (2023-2030) 11.3.1.7.1. PU (polyurethane) 11.3.1.7.2. PVC (polyvinyl chloride) 11.3.1.7.3. Bio-based 11.3.1.8. Mexico Global Synthetic Leather Market Size and Forecast, by End User (2023-2030) 11.3.1.8.1. Furnishing 11.3.1.8.2. Automotive 11.3.1.8.3. Footwear 11.3.1.8.4. Bags & wallets 11.3.1.8.5. Clothing 11.3.1.8.6. Others 12. Europe Synthetic Leather Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 12.1. Europe Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.2. Europe Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3. Europe Synthetic Leather Market Size and Forecast, by Country (2023-2030) 12.3.1. United Kingdom 12.3.1.1. United Kingdom Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.1.2. United Kingdom Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.2. France 12.3.2.1. France Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.2.2. France Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.3. Germany 12.3.3.1. Germany Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.3.2. Germany Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.4. Italy 12.3.4.1. Italy Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.4.2. Italy Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.5. Spain 12.3.5.1. Spain Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.5.2. Spain Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.6. Sweden 12.3.6.1. Sweden Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.6.2. Sweden Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.7. Austria 12.3.7.1. Austria Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.7.2. Austria Synthetic Leather Market Size and Forecast, End User (2023-2030) 12.3.8. Rest of Europe 12.3.8.1. Rest of Europe Synthetic Leather Market Size and Forecast, by Type(2023-2030) 12.3.8.2. Rest of Europe Synthetic Leather Market Size and Forecast, End User (2023-2030) 13. Asia Pacific Synthetic Leather Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 13.1. Asia Pacific Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.2. Asia Pacific Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3. Asia Pacific Synthetic Leather Market Size and Forecast, by Country (2023-2030) 13.3.1. China 13.3.1.1. China Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.1.2. China Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.2. S Korea 13.3.2.1. S Korea Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.2.2. S Korea Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.3. Japan 13.3.3.1. Japan Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.3.2. Japan Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.4. India 13.3.4.1. India Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.4.2. India Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.5. Australia 13.3.5.1. Australia Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.5.2. Australia Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.6. Indonesia 13.3.6.1. Indonesia Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.6.2. Indonesia Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.7. Malaysia 13.3.7.1. Malaysia Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.7.2. Malaysia Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.8. Vietnam 13.3.8.1. Vietnam Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.8.2. Vietnam Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.9. Taiwan 13.3.9.1. Taiwan Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.9.2. Taiwan Synthetic Leather Market Size and Forecast, End User (2023-2030) 13.3.10. Rest of Asia Pacific 13.3.10.1. Rest of Asia Pacific Synthetic Leather Market Size and Forecast, by Type(2023-2030) 13.3.10.2. Rest of Asia Pacific Synthetic Leather Market Size and Forecast, End User (2023-2030) 14. South America Synthetic Leather Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 14.1. South America Synthetic Leather Market Size and Forecast, by Type (2023-2030) 14.2. South America Synthetic Leather Market Size and Forecast, End User (2023-2030) 14.3. South America Synthetic Leather Market Size and Forecast, by Country (2023-2030) 14.3.1. Brazil 14.3.1.1. Brazil Synthetic Leather Market Size and Forecast, by Type(2023-2030) 14.3.1.2. Brazil Synthetic Leather Market Size and Forecast, End User (2023-2030) 14.3.2. Argentina 14.3.2.1. Argentina Synthetic Leather Market Size and Forecast, by Type(2023-2030) 14.3.2.2. Argentina Synthetic Leather Market Size and Forecast, End User (2023-2030) 14.3.3. Rest Of South America 14.3.3.1. Rest of South America Synthetic Leather Market Size and Forecast, by Type(2023-2030) 14.3.3.2. Rest of South America Synthetic Leather Market Size and Forecast, End User (2023-2030) 15. Company Profile: Key players 15.1. San Fang Chemical Industry Co., Ltd. 15.1.1. Financial Overview 15.1.2. Business Portfolio 15.1.3. SWOT Analysis 15.1.4. Business Strategy 15.1.5. Recent Developments 15.2. Kuraray Co., Ltd. 15.3. Asahi Kasei Corporation 15.4. Toray Coatex Co. Ltd. 15.5. H.R. Polycoats Pvt. LTD. 15.6. ALFATEX 15.7. Filwel Co., Ltd. 15.8. Teijin Limited 15.9. Mayur Uniquoters Ltd. 15.10. Nan Ya Plastics Co. Ltd. 15.11. Filwel Co. Ltd. 15.12. Zhejiang Hexin Industry Group Co., Ltd. 15.13. Alfatex 15.14. H.R. Polycoats Pvt. Ltd. 15.15. Yantai Wanhua Synthetic Leather Group Co. Ltd. 15.16. Kolon Industries Inc 15.17. Toray Industries Inc 15.18. Anhui Material Type Co. Ltd. 15.19. Others 16. Key Findings 17. Industry Recommendations 18. Global Synthetic Leather Market: Research Methodology