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Synthetic Leather Market Size, Share & COVID-19 Impact Analysis, By Type (Polyvinyl Chloride (PVC) Based, Polyurethane (PU) Based and Bio-Based), By End-use (Footwear, Furnishing, Automotive, Textile, Others) and Regional Forecast, 2024-2032
Report Format: PDF | Published Date: Ongoing | Report ID: FBI108674 | Status : UpcomingThe automotive industry primarily drives the synthetic leather market size. It is widely used in the automotive industry for car interiors, including seats, door panels, steering wheels, and gear shift covers. It provides a durable and easy-to-clean alternative to genuine leather. In addition, in aviation and marine industries, synthetic leather is used for interiors such as headrests and armrests due to its resistance to moisture, wear, and tear.
Synthetic leather is also driven by the furniture and upholstery industry. It is a popular choice for furniture upholstery, including sofas, chairs, recliners, and ottomans. It offers a look and feel similar to leather without the cost and maintenance associated with genuine leather. Also, growing concerns about animal welfare have increased the demand for cruelty-free alternatives. This leather offers an animal-friendly alternative, increasing its adoption and expanding the market.
- The PU segment held the largest share in 2022 concerning artificial leather revenue.
Increasing demand for bags, wallets, and garments owing to lower prices and higher durability are propelling the synthetic leather market growth. Furthermore, continuous advancements in manufacturing improved the leather's durability, quality, and aesthetics, boosting the market rapidly. Furthermore, travel bags, suitcases, and other luggage items often use this leather for its lightweight nature, durability, and ability to withstand wear and tear during travel, propelling the market.
- APAC is the dominating region, with around 34% of global leather production.
The major synthetic leather manufacturers by region are China, Japan, and India in Asia Pacific; the U.S. and Canada in North America; Germany and France in Europe; Saudi Arabia and UAE in the Middle East.
In 2022, the total revenue generated by luxury leather goods in North America was approximately USD 18.3 billion.
Key Insights
The report will cover the following key insights:
- Key Market Trends
- Regulatory Scenario of the Market
- Key Developments in the Market
- Latest Technological Advancement
- Impact of COVID-19 on the Market
Segmentation Synthetic Leather Market:
By Type | By End-use | By Geography |
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Analysis by Type
By type, Polyvinyl Chloride (PVC)-based segment accounts for the largest proportion of the market.
- Polyvinyl Chloride (PVC) is widely used in surface coating for synthetic leather to provide a protective layer and enhance its durability. The PVC coating helps to resist abrasion, water, and stains, making the leather more resilient and long-lasting.
- In addition, PVC is used as a base material for synthetic leather, combined with other additives and fillers to enhance its appearance and texture. These factors will boost the market in the coming years.
Analysis by End-use
By end-use, the automotive segment accounts for the largest proportion of the market.
- The automotive segment holds a significant share in the forecasting period. Synthetic leather is extensively used for automotive seats and upholstery. It offers a cost-effective alternative to genuine leather, providing a similar aesthetic and comfort. Also, it provides a similar luxurious appearance and tactile experience as genuine leather at a lower cost. Manufacturers can offer a premium look and feel without environmental concerns with the real leather appearance.
- In addition, synthetic leather industry is commonly used in door panels and interior vehicle trims, propelling the market. Furthermore, steering wheel covers made from this leather provide enhanced grip and comfort while driving. They are available in various colors and textures, allowing customization to match the car's interior design.
Regional Insights
APAC accounts for the significant global synthetic leather industry share due to favorable destinations such as China and India. The U.S. contributes heavily to the market, producing the largest number of vehicles per year.
Share of Major Countries in Global Leather Production
- China - 25%
- India – 6.4%
- Brazil – 9.5%
- Russia – 7.0%
- Africa - 6%
Key Players Covered
The report will include the profiles of key players, such as-
- Kuraray Co. Ltd.
- H.R. Polycoats Pvt. Ltd.
- Alfatex Italia SRL
- Filwel Co., Ltd.
- Yantai Wanhua Synthetic Leather Group Co. Ltd.
- Jasch Industries Limited
- Responsive Industries Ltd.
- San Fang Chemical Industry Co. Ltd.
- Mayur Uniquoters Limited
- Nan Ya Plastics Corporation
- Teijin Cordley Limited
Key Industry Developments:
- April 2023 - General Silicones, a Taiwanese company, announced the launch of vegan synthetic leather with customizable fabric lining used in bags and shoes.
- June 2022 - Kuraray Co., Ltd. announced CLARINO, an artificial leather product that Lenovo Japan has chosen for its ThinkPad Z13 laptop computer series. This product is used in the Lenovo laptop computer series for the first time.
- Global
- 2022
- 2019-2021