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Global Synthetic Leather Market, By Type (Polyurethane, Polyvinyl Chloride, Bio-Based), By End User (Footwear, Furnishing, Automotive, Clothing, Bags, Purses and Wallets, Sports, Electronics), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2030.
Synthetic Leather Market Overview
The Synthetic Leather market is estimated to reach USD 87.2 Billion by 2030, growing at a CAGR of 4.5% during the forecast period, 2022-2030, and it was valued at USD 65.8 Billion in 2022. The Synthetic Leather market is estimated to reach USD 87.2 Billion by 2030, growing at a CAGR of 4.5% during the forecast period, 2022-2030, and it was valued at USD 65.8 Billion in 2022. The high demand for synthetic leather end-user industries such as footwear, furnishing, automotive, clothing, bags, purses, and wallets will increase the growth of the artificial leather market across the globe. The increased adoption of synthetic Leather among consumers over genuine Leather is due to its durability and strength, minimum cost, and easy maintenance. Moreover, the growing concern regarding animal killing will also fuel the growth of the synthetic market in the coming years. The Asia Pacific region is expected to have the largest market share, followed by Europe and North America during the forecast period.What is Synthetic Leather?
Synthetic Leather refers to a manufactured fabric and does not involve any natural element during its production. This type of Leather is commonly made up of polyvinyl chloride (PVC) and polyurethane (PU), which are plastic-based materials. Synthetic Leather can also be called artificial Leather, Faux Leather, imitation leather, and blended Leather, considered a substitute for pure Leather.Growth Driver
There is a high demand of industries for synthetic Leather in the footwear and automotive industry.
The growing demand for synthetic Leather in various industry verticals such as footwear, furnishing, automotive, clothing, bags, purses and wallets will increase the market growth. Polyurethane (PU) is widely used in fabric manufacturing for upholstery, clothing, bags, and other goods. Its softness, flexibility, and breathable properties are the key factors driving the growth of the synthetic leather market. The low cost, low maintenance, and high strength and durability made synthetic Leather preferable to genuine Leather. Moreover, there is an increased demand for synthetic Leather in the footwear industry due to its excellent properties and high durability. It is widely used in shoe linings, shoe uppers, and insoles to manufacture various types of footwear, such as sports shoes, shoes and boots, and others. The high demand for polyvinyl chloride (PVC) and polyurethane (PU) synthetic leather in the automotive industry is expected to boost the growth of the synthetic leather market across the globe. Synthetic Leather is widely used in door trims, steering wheel covers, gear bot and knob covers, roof lining, sun visors, and hoods due to its high elasticity, extra comfort, and resistance to hot and cold temperatures. The growing demand for eco-friendliness and stringent government regulations towards animal killing will also boost the growth of Synthetic Leather. According to People for the Ethical Treatment of Animals (PETA), it is recorded that more than 1 billion animals are being killed almost every year for the manufacturing of Leather. Furthermore, consumers’ shifting preference towards eco-friendly products has made key manufacturers focus on substituting genuine leather-like synthetic Leather. Pre Covid-19 impact The high demand for synthetic leather in developing and developed regions due to extensive demand for footwear and other essential products is the primary factor increasing the growth of the synthetic market across the globe. Furthermore, the growing demand for synthetic leather over genuine leather due to its several benefits is another key factor responsible for developing the product market. The wide applications of synthetic Leather in the automotive industry will increase the synthetic leather market worldwide. Synthetic Leather is widely used in door trims, steering wheel covers, gear bot and knob covers, roof lining, sun visors, and hoods due to its high elasticity, extra comfort, and resistance to hot and cold temperatures.Covid-19 impact
The outbreak of the COVID-19 pandemic has severely impacted the global leather market due to stringent government regulations on animal slaughtering to limit the spread of the disease. Moreover, a slight increase in the demand for synthetic Leather has been registered in the healthcare industry. This demand is attributable to the increased need for beds and furniture to facilitate the care of various patients suffering from COVID-19 and other chronic diseases. Furthermore, the demand for synthetic Leather in the automotive and footwear industry has declined drastically owing to a decrease in the sale of automobiles and the complete shutdown of manufacturing plants. The Asia Pacific region is recorded as the most adversely affected market globally. The increased cases of COVID-19 in countries like India and China are major factors responsible for the declining synthetic leather market worldwide. Post Covid-19 impact There will be significant growth in the demand for synthetic Leather due to its wide application in footwear and various industry verticals. The decrease in the need for genuine Leather owing to growing concerns about animal killing will also boost the demand for the synthetic leather market in the coming years. Moreover, the growing demand for synthetic Leather in luxury cars and public transport due to its wide applications will fuel market growth across the globe. Furthermore, the growing market in developing countries of the Asia Pacific, such as India, China, Malaysia, Thailand, and Vietnam, will significantly increase the synthetic leather market. This high demand is attributable to the increasing demand for footwear and other essential products due to the growing population in the region.Type Segmental Analysis
Based on the Type, the Synthetic Leather market is segregated into Polyurethane, Polyvinyl Chloride, and Bio-Based. The Polyurethane synthetic leather segment has the largest share of the market due to its various qualities. It has multiple advantages over other synthetic leather, including its softness, flexibility, breathability, lightweight, and waterproof qualities. These advantages made polyurethane suitable for manufacturing upholstery, clothes, bags, and other goods. In addition, polyurethane is more environmentally friendly than vinyl-based Leather, making it preferable among consumers due to growing environmental concerns.End-User Segmental Analysis
Based on the End User, the Synthetic Leather market is classified into Footwear, Furnishing, Automotive, Clothing, Bags, Purses and Wallets, Sports, and Electronics. The footwear segment is proposed to have the largest market share and continues this trend during the forecast period. Synthetic Leather is widely used in shoe linings, shoe uppers, and insoles to manufacture various types of footwear such as sports shoes, shoes and boots, and others. The growing demand for footwear in developing and developed industries will also boost the synthetic market growth. Shoes made of synthetic leather are two to three times cheaper than those made of genuine leather. This will increase the demand for the synthetic leather market in emerging economies like India and China. The automotive sector is expected to have significant growth during the forecast years. This growth refers to the rising demand for synthetic leathers in interior designing luxury vehicles and public transport like buses and railways. The furnishing industry is also expected to grow significantly, followed by the footwear and automotive industries. This growth refers to the rising demand for synthetic leather materials widely used in the furnishing industries due to the availability of various colors, patterns, and textures. Furthermore, the high demand for synthetic leather purses and wallets in emerging economies like India and China will fuel market growth in the coming years. Region Segmental Analysis The Synthetic Leather market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific region is expected to have the largest market share during the forecast period. Developing countries like China, India, and Malaysia are expected to have significant growth in the market due to increased demand for footwear and essential products owing to the increasing population. Furthermore, the growing disposable income and rising standard of living will also boost the synthetic leather market growth in the coming year. Moreover, Europe is expected to have significant synthetic leather market growth in the coming year. The increase is attributable to various clothing, footwear, and bag brands in the region.Competitor Analysis
Companies include Kolon Industries Inc., Teijin Limited, Asahi Kasei Corporation, Yantai Wanhua Synthetic Leather Group Co. Ltd., H.R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., San Fang Chemical Industry Co. Ltd., Mayur Uniquoters Limited, NAN YA Plastics Corporation, Alfatex, and Filwel are the key players in the Synthetic Leather market.Key Stakeholders
- Market research and consulting firms
- Industry associations
- Local Governments
- Tourists
- Ecological Polyvinyl Chlorides
- Research organizations and consulting companies
- Tourism Agencies
- NGOs
- Regulatory bodies
Scope of the Report
| Report Attribute | Details |
|---|---|
| Market Size Value in 2020 | USD 63.5 Billion |
| The revenue forecast in 2027 | USD 80.2 Billion |
| Growth Rate | CAGR of 4.5% from 2020 to 2027 |
| Historical data | 2017-2020 |
| Forecast period | 2021 – 2027 |
| Region covered | America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Kolon Industries Inc., Teijin Limited, Asahi Kasei Corporation, Yantai Wanhua Synthetic Leather Group Co. Ltd., H.R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., San Fang Chemical Industry Co. ltd., Mayur Uniquoters Limited, NAN YA Plastics Corporation, Alfatex, Filwel. |
Market Modelling
By Type- Polyurethane
- Polyvinyl Chloride
- Bio-based
- Footwear
- Furnishing
- Automotive
- Clothing
- Bags
- Purses and Wallets
- Sports
- Electronics
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
4.11. Impact of COVID-19 GLOBAL Synthetic Leather Market
4.12. Economic Impact Study on Global Synthetic Leather Market
- Global Synthetic Leather Market, 2017-2030
5.1. Market size & Forecast, 2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.1.2. Production
5.1.2.1. By Volume (Kilotons)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Type
5.2.1.1. Polyurethane
5.2.1.2. Polyvinyl Chloride
5.2.1.3. Bio-Base
5.2.2. By End-Use
5.2.2.1. Footwear
5.2.2.2. Furnishing
5.2.2.3. Automotive
5.2.2.4. Clothing
5.2.2.5. Bags
5.2.2.6. Purses and Wallets
5.2.2.7. Sports
5.2.2.8. Electronics
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. The Middle East & Africa
5.2.3.5. South America
- North America Synthetic Leather Market, 2017-2030
6.1. North America Synthetic Leather Market size & Forecast, 2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.1.2. Production
6.1.2.1. By Volume (Kilotons)
6.2. North America Synthetic Leather Market Share & Forecast, 2017-2030
6.2.1. By Type
6.2.1.1. Polyurethane
6.2.1.2. Polyvinyl Chloride
6.2.1.3. Bio-Base
6.2.2. By End-Use
6.2.2.1. Footwear
6.2.2.2. Furnishing
6.2.2.3. Automotive
6.2.2.4. Clothing
6.2.2.5. Bags
6.2.2.6. Purses and Wallets
6.2.2.7. Sports
6.2.2.8. Electronics
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Price-Point Analysis, By Sensor
6.2.5. Manufacturer & Distribution List (Top 5)
6.2.6. Company Market Share (Top 3-5)
6.2.7. Economic Impact Study on North America Synthetic Leather Market
- Europe Synthetic Leather Market, 2017-2030
7.1. Europe Synthetic Leather Market size & Forecast, 2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.1.2. Production
7.1.2.1. By Volume (Kilotons)
7.2. Europe Synthetic Leather Market Share & Forecast, 2017-2030
7.2.1. By Type
7.2.1.1. Polyurethane
7.2.1.2. Polyvinyl Chloride
7.2.1.3. Bio-Base
7.2.2. By End-Use
7.2.2.1. Footwear
7.2.2.2. Furnishing
7.2.2.3. Automotive
7.2.2.4. Clothing
7.2.2.5. Bags
7.2.2.6. Purses and Wallets
7.2.2.7. Sports
7.2.2.8. Electronics
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Price-Point Analysis, By Sensor
7.2.5. Manufacturer & Distribution List (Top 5)
7.2.6. Company Market Share (Top 3-5)
7.2.7. Economic Impact Study on Europe Synthetic Leather Market
- Asia Pacific Synthetic Leather Market, 2017-2030
8.1. Asia Pacific Synthetic Leather Market size & Forecast, 2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.1.2. Production
8.1.2.1. By Volume (Kilotons)
8.2. Asia Pacific Synthetic Leather Market Share & Forecast, 2017-2030
8.2.1. By Type
8.2.1.1. Polyurethane
8.2.1.2. Polyvinyl Chloride
8.2.1.3. Bio-Base
8.2.2. By End-Use
8.2.2.1. Footwear
8.2.2.2. Furnishing
8.2.2.3. Automotive
8.2.2.4. Clothing
8.2.2.5. Bags
8.2.2.6. Purses and Wallets
8.2.2.7. Sports
8.2.2.8. Electronics
8.2.3. By Country
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Japan
8.2.3.4. Australia
8.2.3.5. Rest of Asia pacific
8.2.4. Price-Point Analysis, By Sensor
8.2.5. Manufacturer & Distribution List (Top 5)
8.2.6. Company Market Share (Top 3-5)
8.2.7. Economic Impact Study on Asia-Pacific Synthetic Leather Market
- The Middle East & Africa Synthetic Leather Market, 2017-2030
9.1. The Middle East & Africa Synthetic Leather Market size & Forecast, 2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.1.2. Production
9.1.2.1. By Volume (Kilotons)
9.2. The Middle East & Africa Synthetic Leather Market Share & Forecast, 2017-2030
9.2.1. By Type
9.2.1.1. Polyurethane
9.2.1.2. Polyvinyl Chloride
9.2.1.3. Bio-Base
9.2.2. By End-Use
9.2.2.1. Footwear
9.2.2.2. Furnishing
9.2.2.3. Automotive
9.2.2.4. Clothing
9.2.2.5. Bags
9.2.2.6. Purses and Wallets
9.2.2.7. Sports
9.2.2.8. Electronics
9.2.3. By Country
9.2.3.1. Saudi Arabia
9.2.3.2. UAE
9.2.3.3. South Africa
9.2.3.4. Rest of The Middle East & Africa
9.2.4. Price-Point Analysis, By Sensor
9.2.5. Manufacturer & Distribution List (Top 5)
9.2.6. Company Market Share (Top 3-5)
9.2.7. Economic Impact Study on The Middle East & Africa Synthetic Leather Market
- South America Synthetic Leather Market, 2017-2030
10.1. South America Synthetic Leather Market size & Forecast, 2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.1.2. Production
10.1.2.1. By Volume (Kilotons)
10.2. South America Synthetic Leather Market Share & Forecast, 2017-2030
10.2.1. By Type
10.2.1.1. Polyurethane
10.2.1.2. Polyvinyl Chloride
10.2.1.3. Bio-Base
10.2.2. By End-Use
10.2.2.1. Footwear
10.2.2.2. Furnishing
10.2.2.3. Automotive
10.2.2.4. Clothing
10.2.2.5. Bags
10.2.2.6. Purses and Wallets
10.2.2.7. Sports
10.2.2.8. Electronics
10.2.3. By Country
10.2.3.1. Brazil
10.2.3.2. Argentina
10.2.3.3. Rest of South America
10.2.4. Price-Point Analysis, By Sensor
10.2.5. Manufacturer & Distribution List (Top 5)
10.2.6. Company Market Share (Top 3-5)
10.2.7. Economic Impact Study on South America Synthetic Leather Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company profile
11.7.1. Kolon Industries Inc.
11.7.2. Teijin Limited
11.7.3. Asahi Kasei Corporation
11.7.4. Yantai Wanhua Synthetic Leather Group Co. Ltd.
11.7.5. R. Polycoats Pvt. Ltd.
11.7.6. Kuraray Co. Ltd.
11.7.7. San Fang Chemical Industry Co. Ltd.
11.7.8. Mayur Uniquoters Limited
11.7.9. NAN YA Plastics Corporation
11.7.10. Alfatex
11.7.11. Fill
11.7.12. Other Prominent Players
Frequently Asked Questions (FAQ):
Synthetic Leather refers to a manufactured fabric and does not involve any natural element during its production. This type of Leather is commonly made up of polyvinyl chloride (PVC) and polyurethane (PU), which are plastic-based materials.
The Synthetic Leather market size was valued at USD 68.5 Billion in 2022 and is projected to reach USD 82.7 Billion by 2030, growing at a CAGR of 4.5% during the forecast period, 2022-2030.
The Synthetic Leather market is anticipated to grow significantly due to the high demand for synthetic Leather in the footwear, clothing, and automotive industry. The growing concern towards animal killing is the increasing adoption of consumers towards synthetic Leather across the world.
Based on the End User, the Synthetic Leather market is classified into Footwear, Furnishing, Automotive, Clothing, Bags, Purses and Wallets, Sports, and Electronics.
Companies include Kolon Industries Inc., Teijin Limited, Asahi Kasei Corporation, Yantai Wanhua Synthetic Leather Group Co. Ltd., H.R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., San Fang Chemical Industry Co. ltd., Mayur Uniquoters Limited, NAN YA Plastics Corporation, Alfatex, and Filwel are the key players in the Synthetic Leather market.
