The Global Synthetic Leather Market Size Was Worth USD 36.32 Billion in 2022 and is Estimated to Grow to USD 66.25 Billion by 2030, With a CAGR of Approximately 7.8 % Over the Forecast Period From 2023 To 2030.
Synthetic Leather Market Overview
Synthetic leather is manufactured synthetically from PVC and PU. The terms artificial leather, faux leather, imitation leather, mixed leather, etc. can all be used to describe this sort of leather. All of these titles suggest that it is a leather replacement rather than genuine leather. Before it is ready, synthetically manufactured leather must go through many steps. The production of synthetic leather may be done using a variety of techniques. The synthetic leather market has many driving factors, but the biggest one is that it does not involve animal killing or no animal is harmed. But synthetic leather also has many harmful effects on nature because of the use of PU and PVC in it, which acts as a restraint for the market. To reduce this negative impact, bio-based synthetic leather is being developed by some industries, which is thought to be a major opportunity for the market in the upcoming years.
COVID-19 Impact:
The leather market for synthetic/artificial leather has witnessed a decline in demand. Workers are asked to stay home, factories close, and global supply chains grind to a halt. The cancellation of products or orders across the globe has hit thousands of firms and millions of workers in monetary terms. The quarantine measures, closure of retail stores, illness, and salary reductions have reduced consumer demand. Production of plastic resins, the building blocks of all plastic products, increased by 0.9 percent in the U.S. in 2020, compared to 1.2 percent in 2019. The market has seen a sharp downfall during the covid-19 lockdown.
Market Drivers
Vegan shoes and other businesses that appeal to those who care about animal welfare usually employ synthetic leather. Textiles and polyurethane are combined to create faux leather, which gives synthetic materials a genuine leather feel. Conversely, synthetic leather footwear doesn’t need as much prep work or chemical processing. Synthetic leather may be developed to satisfy a range of purposes across several sectors because it is a man-made substance. Additionally, the materials may be produced in rolls and very huge quantities. Contrary to most natural leathers, which are restricted by the size of the hide, this one is not. On a flexible plastic foundation or a fiber-based fabric, synthetic leathers can be created (such as polyester).
Restraints:
Synthetic leather may emit chemical fumes or off-gases when it is first produced or when it is exposed to heat or sunlight, which can be harmful to humans and animals. Polyvinyl chloride (PVC) is one of the most commonly used and discarded forms of plastic. The production, use, and disposal of polyvinyl chloride (PVC) have environmental consequences that range from global warming to decreased air quality. PVC production emits volatile organic compounds (VOC) and carbon dioxide. Most of the carbon dioxide that PVC produces is emitted during the production of the product and the transportation of the finished product. PVC also needs a lot of energy and produces a lot of greenhouse gases.
Synthetic Leather Market: Segmentation
The global synthetic leather market has been segmented into product type and application.
- Based on type, the market is divided into PU-based, PVC based, and bio-based. Among these, the PU-based segment led the market in 2022 and is expected to maintain its dominance throughout the forecast period. PU synthetic leather is leather made from the skin of polyurethane. The structures of PU leather and PVC leather are different. PVC is harder and more durable because it has additional layers below its covering. Contrarily, PU has fewer layers, which makes it easier to work with and more malleable. While PVC can withstand more severe wear and weather conditions, PU may even crease and discolor as true leather would. Compared to PU leather, PVC has a multi-layer structure and no pores, making it a more durable material. Compared to PU leather, PVC is far less breathable. Due to this, PU leather has an edge over other materials when it comes to being chosen for wearable garment items.
- Based on application, the market is classified into footwear, furnishing, automotive, clothing, bags, purses & wallets, and others. In 2022, the clothing category dominated the global market. Synthetics can be good depending on how it is used and what is made from them. It may be used in a variety of settings, although it is most frequently employed in upholstery, apparel, shoes, luggage, and cases. Because of its resilience, synthetic leather is most commonly utilized in footwear. Shoes made of synthetic leather are made to keep their shape and are often quite sturdy. In comparison to real leather, which may deteriorate and discolor when exposed to the environment, they are also more water-resistant. Synthetic leather is made to withstand weather changes as well as the wear and tear of prolonged jogging and walking.
Synthetic Leather Market: Regional Landscape
The global synthetic leather market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Asia Pacific was predicted to hold a dominant position in the global market for synthetic leather in 2021 due to the existence of most industries in China and India and their importance in the manufacturing sector. In the Asia Pacific region, synthetic leather is well-established and made with the newest technological innovations. The market in Asia Pacific is also predicted to grow at the highest CAGR between 2023 and 2030. The region has developed to be on the top scale as a result of the expanding commercial and industrial areas and the growing synthetic market.
Synthetic Leather Market: Competitive Landscape
Some of the main competitors dominating the global synthetic leather market include–
- Kuraray Co., Ltd.
- H.R. Polycoats Pvt. Ltd.
- Alfatex Italia SRL
- Filwel Co., Ltd.
- Yantai Wanhua Synthetic Leather Group Co., Ltd.
- San Fang Chemical Industry Co., Ltd.
- Mayur Uniquoters Limited
- Teijin Limited
- Nan Ya Plastics Corporation
The Global Synthetic Leather Market is segmented as follows:
Synthetic Leather Market by Type Outlook (Revenue, USD Million, 2017 – 2030)
- PU Synthetic Leather
- PVC Synthetic Leather
- Bio-based Leather
Synthetic Leather Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Footwear
- Furnishing
- Automotive
- Clothing
- Bags, Purses & Wallets
- Others
Synthetic Leather Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Synthetic Leather Market Report Scope |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 36.32 billion |
| Revenue Forecast in 2030 | USD 66.25 billion |
| Growth Rate | CAGR of 7.8 % from 2023 to 2030 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 – 2022 |
| Forecast Years | 2023 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered | Type, Application, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | Kuraray Co., Ltd.; H.R. Polycoats Pvt. Ltd.; Alfatex Italia SRL; Filwel Co., Ltd.; Yantai Wanhua Synthetic Leather Group Co., Ltd.; San Fang Chemical Industry Co., Ltd.; Mayur Uniquoters Limited; Teijin Limited; Nan Ya Plastics Corporation |
Table of Content
Synthetic Leather Market Size, Share, Growth & Forecast Report
CHAPTER NO. 1: INTRODUCTION
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. USP & Key Offerings
1.2. Key Benefits for Stakeholders
1.3. Target Audience
1.4. Report Scope
CHAPTER NO. 2: EXECUTIVE SUMMARY
2.1. Synthetic Leather Market Snapshot
2.2. Global Synthetic Leather Market, 2017 – 2022 (USD Million)
2.1. Insights from Primary Respondents
CHAPTER NO. 3: COVID-19 IMPACT ANALYSIS
3.1. Impact Assessment of COVID-19 Pandemic, By Region
CHAPTER NO. 4: SYNTHETIC LEATHER MARKET – BY TYPE SEGMENT ANALYSIS
4.1. Synthetic Leather Market Overview, by Type Segment
4.1.1. Synthetic Leather Market Revenue Share, By Type, 2022 & 2030
4.2. PU Synthetic Leather
4.2.1. Global PU Synthetic Leather Market Revenue, By Region, 2017 – 2022 (USD Million)
4.3. PVC Synthetic Leather
4.3.1. Global PVC Synthetic Leather Market Revenue, By Region, 2017 – 2022 (USD Million)
4.4. Bio-based Leather
4.4.1. Global Bio-based Leather Synthetic Leather Market Revenue, By Region, 2017 – 2022 (USD Million)
CHAPTER NO. 5: SYNTHETIC LEATHER MARKET – BY APPLICATION SEGMENT ANALYSIS
5.1. Synthetic Leather Market Overview, by Application Segment
5.1.1. Synthetic Leather Market Revenue Share, By Application, 2022 & 2030
5.2. Footwear
5.2.1. Global Synthetic Leather for Footwear Market Revenue, By Region, 2017 – 2022 (USD Million)
5.3. Furnishing
5.3.1. Global Synthetic Leather for Furnishing Market Revenue, By Region, 2017 – 2022 (USD Million)
5.4. Automotive
5.4.1. Global Synthetic Leather for Automotive Market Revenue, By Region, 2017 – 2022 (USD Million)
5.5. Clothing
5.5.1. Global Synthetic Leather for Clothing Market Revenue, By Region, 2017 – 2022 (USD Million)
5.6. Bags, Purses & Wallets
5.6.1. Global Synthetic Leather for Bags, Purses & Wallets Market Revenue, By Region, 2017 – 2022 (USD Million)
5.7. Other Applications
5.7.1. Global Synthetic Leather for Other Application Market Revenue, By Region, 2017 – 2022 (USD Million)
CHAPTER NO. 6: SYNTHETIC LEATHER MARKET – REGIONAL ANALYSIS
6.1. Synthetic Leather Market Overview, by Region Segment
6.1.1. Global Synthetic Leather Market Revenue Share, By Region, 2022 & 2030
6.1.2. Global Synthetic Leather Market Revenue, By Region, 2017 – 2022 (USD Million)
6.1.3. Global Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.1.4. Global Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.2. North America
6.2.1. North America Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.2.2. North America Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.2.3. North America Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.2.4. The U.S.
6.2.5. Canada
6.2.6. Mexico
6.3. Europe
6.3.1. Europe Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.3.2. Europe Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.3.3. Europe Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.3.4. UK
6.3.5. France
6.3.6. Germany
6.3.7. Italy
6.3.8. Spain
6.3.9. Russia
6.3.10. BENELUX
6.3.11. Sweden
6.3.12. Denmark
6.3.13. Poland
6.3.14. Austria
6.3.15. Rest of Europe
6.4. Asia Pacific
6.4.1. Asia Pacific Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.4.2. Asia Pacific Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.4.3. Asia Pacific Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.4.4. China
6.4.5. Japan
6.4.6. South Korea
6.4.7. India
6.4.8. Thailand
6.4.9. Indonesia
6.4.10. Vietnam
6.4.11. Malaysia
6.4.12. Philippines
6.4.13. Taiwan
6.4.14. Rest of Asia Pacific
6.5. Latin America
6.5.1. Latin America Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.5.2. Latin America Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.5.3. Latin America Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.5.4. Brazil
6.5.5. Argentina
6.5.6. Colombia
6.5.7. Chile
6.5.8. Peru
6.5.9. Rest of Latin America
6.6. The Middle-East
6.6.1. Middle East Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.6.2. Middle East Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.6.3. Middle East Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.6.4. GCC Countries
6.6.5. Israel
6.6.6. Turkey
6.6.7. Iran
6.6.8. Rest of Middle East & Africa
6.7. Africa
6.7.1. Africa Synthetic Leather Market Revenue, By Country, 2017 – 2022 (USD Million)
6.7.2. Africa Synthetic Leather Market Revenue, By Type, 2017 – 2022 (USD Million)
6.7.3. Africa Synthetic Leather Market Revenue, By Application, 2017 – 2022 (USD Million)
6.7.4. South Africa
6.7.5. Egypt
6.7.6. Nigeria
6.7.7. Algeria
6.7.8. Morocco
6.7.9. Rest of Africa
CHAPTER NO. 7: SYNTHETIC LEATHER MARKET – INDUSTRY ANALYSIS
7.1. Introduction
7.2. Market Drivers
7.2.1. Driving Factor 1 Analysis
7.2.2. Driving Factor 2 Analysis
7.3. Market Restraints
7.3.1. Restraining Factor Analysis
7.4. Market Opportunities
7.4.1. Market Opportunity Analysis
7.5. Porter’s Five Forces Analysis
7.6. Value Chain Analysis
CHAPTER NO. 8: KEY INVESTMENT POCKETS ANALYSIS
8.1. Top Investment Pockets
8.1.1.1. Synthetic Leather Market Attractiveness Analysis, By Type
8.1.1.2. Synthetic Leather Market Attractiveness Analysis, By Application
8.1.1.3. Synthetic Leather Market Attractiveness Analysis, By End-user
8.2. Product Life Cycle Analysis
8.3. Incremental Revenue Growth Opportunity, 2023 – 2030
8.3.1. Type
8.3.2. Application
8.3.3. End-user
CHAPTER NO. 9: IMPORT-EXPORT ANALYSIS
9.1. Import Analysis by Region
9.1.1. Global Synthetic Leather Market Import Revenue, By Region, 2017 – 2022 (USD Million)
9.2. Export Analysis by Region
9.2.1. Global Synthetic Leather Market Export Revenue, By Region, 2017 – 2022 (USD Million)
CHAPTER NO. 10: ANALYSIS COMPETITIVE LANDSCAPE
10.1. Company Market Share Analysis – 2022
10.1.1. Global Synthetic Leather Market: Company Market Share, 2022
10.1. Global Synthetic Leather Market Company Market Share, 2022
10.2. Strategic Development
10.2.1. Acquisitions & Mergers
10.2.2. New Product Launch
10.2.3. Regional Expansion
CHAPTER NO. 11: COMPANY PROFILES
11.1. Kuraray Co., Ltd.
11.1.1. Company Overview
11.1.2. Product Portfolio
11.1.3. Financial Overview
11.1.4. Recent Developments
11.2. H.R. Polycoats Pvt. Ltd.
11.3. Alfatex Italia SRL
11.4. Filwel Co., Ltd
11.5. Yantai Wanhua Synthetic Leather Group Co., Ltd
11.6. San Fang Chemical Industry Co., Ltd.
11.7. Mayur Uniquoters Limited
11.8. Teijin Limited
11.9. Nan Ya Plastics Corporation
CHAPTER NO. 12: RESEARCH METHODOLOGY
12.1. Research Methodology
12.2. Phase I – Secondary Research
12.3. Phase II – Data Modeling
12.3.1. Company Share Analysis Model
12.3.2. Revenue-Based Modeling
12.4. Phase III – Primary Research
12.5. Research Limitations
12.5.1. Assumptions
Synthetic Leather Market by Type Outlook (Revenue, USD Million, 2017 – 2030)
- PU Synthetic Leather
- PVC Synthetic Leather
- Bio-based Leather
Synthetic Leather Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Footwear
- Furnishing
- Automotive
- Clothing
- Bags, Purses & Wallets
- Others
