Home > Advanced Materials > Synthetic Leather Market Demand, Size, Forecast to 2030
Straits Research

Synthetic Leather Market

Synthetic Leather Market: Information by Product (PU, PVC, and Bio-Based), Application (Furnishing, Automotive, Footwear, Bags and Wallets, Clothing), and Region — Forecast till 2030

Table of Content Download Sample

Market Overview

The global synthetic leather market size was valued at USD 31.89 billion in 2021. It is expected to reach a valuation of USD 67.23 billion by 2030, growing at a CAGR of 7.91% during the forecast period (2022–2030).

Synthetic leather, also called artificial leather, substitutes leather in upholstery, clothing, footwear, and other areas where a leather-like finish is sought. Still, the actual material is too expensive or unsuitable. Leatherette, faux leather, imitation leather, vegan leather, PU leather, and pleather are used to describe artificial leather. Clothing textiles, furniture upholstery, watercraft upholstery, and vehicle interiors incorporate artificial leather. Some synthetic leathers require plastic, while others require plant-based components; artificial materials in artificial leather manufacture presents significant sustainability concerns.

Market Snapshot

market snapshot
Base Year
: 2021
Study Period
: 2020-2030
: 7.91 %
Fastest Growing Market
: Europe
Largest Market
: Asia Pacific
Market Size
: USD 67.23 billion by 2030
Get more information on this report Download Sample Report

Market Dynamics

Drivers: Viable Alternative to Natural Leather

Natural leather is derived from animals, which involves animal slaughter. Various governments have adopted many rules and legislation to protect animal rights. Animal rights legislation has become a significant roadblock for natural leather producers. Growing public awareness of animal abuse, supported by programs sponsored by organizations like PETA, has driven demand for leather alternatives. Manufacturers are increasingly turning to synthetic leather due to a widening supply-demand gap in the natural leather market.

Another essential aspect pushing synthetic leather adoption is its lower manufacturing cost. Synthetic leather is less expensive than natural leather, and the manufacturing process is also more straightforward. This has resulted in increasing investment in synthetic leather, which will assist in market penetration. Natural leather manufacturing activities, particularly tanning, pollute the surrounding environment. Another key factor contributing to the shift in demand for synthetic leather is the cost. Environmental legislation and government regulations have played a role in increasing demand for synthetic leather. 

Thus, the variables mentioned above are likely to drive the demand for synthetic leather over the forecast period.

Drivers: Growing Demand from Footwear Sector

Due to increased demand from emerging nations, the footwear sector has seen significant growth in recent years. However, consumer spending in the United States and several European countries have slowed marginally due to the global recession. China, India, South Korea, Vietnam, Thailand, and other South Asian countries have all expressed great interest. This is likely to impact the demand for synthetic leather in Asia significantly.

Over the forecast period, more foreign investment will accelerate industrial penetration in emerging economies. Luxury brands were among the first to adapt to the shift in consumer purchasing patterns worldwide. In 2016, Prada, for example, established 27 new stores throughout Asia-Pacific, accounting for almost 35% of the brand's total number of outlets. Over the next several years, such activities are expected to play a critical role in increasing the market penetration of synthetic leather companies.

International players must also alter their pricing strategies to account for local competition in developing economies. For global corporations, this will be a significant hurdle. Furthermore, the flood of new client groups will strain product development channels as they attempt to fulfill a wide range of demands and preferences. The rising middle class, which is likely to be the key growth catalyst for the overall market in the foreseeable future, must be considered by footwear brands.

Restraint: Damaging Effects of PVC and PU

Polyvinyl chloride and polyurethane, among other synthetic leather raw materials, are detrimental to the ecosystem, animal health, and human health. Polyurethane isocyanate really can aggravate the lungs and provoke asthma attacks. It affects the epidermis and makes it more challenging to breathe. Workers commonly inhale polyurethane fumes in polyurethane manufacturing facilities, causing vertigo, vomiting, and nausea.

Toxic carcinogens discovered in polyvinyl chloride include dioxin, phthalates, and vinyl chloride monomer. Whenever chlorine-containing compounds are charred, dioxin is emitted, which is a highly poisonous and deadly chemical. As a result of the toxic effect of polyurethane and the polyvinyl chloride production process, the synthetic leather sector is impeded. Thus, the market's growth will likely be hampered by the detrimental consequences of polyurethane and polyvinyl chloride over the forecast timeframe.

Opportunities: Emphasis on Bio-Based Synthetic Leather Development

The bio-based faux leather manufacturing process has no adverse consequences on the ecosystem. Synthetic leather manufactured from natural fibers like flax cotton or cotton fibers coupled with corn, palm, soybean, and others should be the focus of manufacturers. Leaves of pineapple fruit are indeed being utilized to manufacture "Pinatex," a novel synthetic leather item. These pineapple leaves have an elastic and solid fiber that makes them excellent for usage in the manufacturing procedure. 

Leaves of pineapple are seen as a waste material, so these leaves are used to make anything valuable without spending a wealth of material. Products like shoes, handbags, and other accessories made from pineapple fiber have hit the market. Bio-based synthetic leather could be a massive prospect for synthetic leather makers, considering the rising ecological legislation and government regulations in the European Union and North America about using harmful poisonous chemicals.

Segmental Analysis

The global synthetic leather market share has been classified based on the product, application, and region.

The synthetic leather market has been segmented into PVC, PU, and Bio-based, based on product. The PU-based synthetic leather segment is expected to dominate the global market, and it is projected to reach USD 41,876 million by 2030, registering a CAGR of 8.52% during the forecast timeline. 

Polyurethane (PU) leather is more environmentally friendly than vinyl-based leather because it does not release dioxins. However, it is more expensive than PVC-based leather due to the lengthy manufacturing process. In terms of product quality, variety, and yield, the demand for PU synthetic leather has risen in recent years. Its usability and application scope are approaching those of genuine leather, and it is gradually replacing genuine leather in handbags, briefcases, automobile interiors, and clothes.

The synthetic leather market has been segmented into footwear, automotive, furnishing, bags and wallets, clothing, and others, based on application. The footwear segment is likely to dominate the global market, and it is projected to reach USD 22,516 million by 2030, registering a CAGR of 8.25% during the forecast period.

The primary application category for synthetic leather is footwear. Due to increased consumer disposable income and economic development, the segment is predicted to grow significantly over the forecast period. The growing popularity of athleisure, a trend that involves wearing sports shoes with casual clothing, is likely to drive up demand for synthetic leather in footwear.

Regional Analysis

The global synthetic leather market share has been segregated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. 

Supremacy of Asia-Pacific Over Others

With an expected market value of USD 31,208 million by 2030, registering a CAGR of 8.95%, Asia-Pacific is expected to be the largest market for synthetic leather. Major market competitors focus on developing regions to meet expanding product demand and boost profitability. Over the forecast period, the widespread use of synthetic leather in luggage, boots, shoes, wallets, bags, and other consumer products is expected to drive the artificial leather market in this region.

By 2030, China will likely dominate the Asia-Pacific's synthetic leather market, and it will be one of the region's fastest-growing markets. The largest leather user is in key application categories such as automobiles, furniture, and clothes. The automotive and footwear industries, which are essential application categories for synthetic leather, are flourishing in the country. India, Korea, and Italy are China's leading artificial leather suppliers.

With an expected market value of USD 14,730 million by 2030, registering a CAGR of 6.75%, Europe is expected to be the second-largest market for synthetic leather. Due to the region's thriving automobile and consumer appliance industries, the artificial leather market in Europe has seen significant growth. Following the economic slump, governments in the region are focusing on bio-based, low-cost, and long-lasting products. This is expected to improve the demand for synthetic leather in this region.

During the last few years, the German leather sector has grown slowly. In the European Union, animal hide production is on the decline. Rawhide costs jumped by 15% in 2011 and another 23% in 2013, resulting in a significant demand and supply gap for leather items. As a result, new market entrants' extensive research and development operations in the synthetic leather industry provided a good rise for the overall market.

The automotive interior, upholstery, and footwear industries saw significant demand increases. Luxurious products, shoes, and purses made of synthetic leather were also in high demand.

Synthetic Leather Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Key Players of Synthetic Leather Market

Key players in the global synthetic leather market are 

  1. Kuraray Co. Ltd.
  2. H.R. Polycoats Pvt. Ltd.
  3. Alfatex Italia SRL
  4. Filwel Co. Ltd.
  5. Yantai Wanhua Synthetic Leather Group Co. Ltd.
  6. San Fang Chemical Industry
  7. Mayur Uniquoters Limited
  8. Nan Ya Plastics Corporation
  9. Zhejiang Hexin Industry Group Co. Ltd.
  10. Teijin Limited

Report Scope

Report Metric Details
CAGR 7.91%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Product
    1. PU
    2. PVC
    3. Bio-based
  2. By Application
    1. Furnishing
    2. Automotive
    3. Footwear
    4. Bags and Wallets
    5. Clothing
    6. Others
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa

Recent Developments

  • September 2021- Teijin Cordley Limited, a subsidiary of Japan's Teijin Frontier Group, developed the latest antiviral and antibacterial artificial leather, including a long-lasting antibacterial agent. In October of this year, Teijin Cordley began to sell the most recent antiviral synthetic leather. Prior versions will be designed to make children's suitcases, with subsequent iterations designed to make athletic items like leather balls and shoes. In fiscal 2021, the company sold 30,000 meters, and in fiscal 2024, it intends to sell 580,000 meters.
  • September 2021- Volvo Cars vowed to equip all of their future electric vehicles with leather-free materials in response to recent research detailing the future of sustainable luxury items. The historic automaker's new step stems from a desire to promote sustainability and animal welfare by employing high-quality recycled materials. Volvo is a multinational automaker making significant progress toward carbon neutrality and electrification throughout its various brands and manufacturing processes.
  • May 2019- Teijin Frontier Co. Ltd., the Teijin Group's fibers and products converting company, created polishing pads made of the non-woven material 'NANOFRONT' to increase silicon wafer quality while cutting production costs. The ultra-fine nanofiber 'NANOFRONT' is constructed of a flexible, water-absorbent polymer with polyurethane resin.
  • November 2018- CLARINO was chosen to manufacture the surface layer of the V200W official tournament-model volleyball, manufactured by Mikasa Corporation and used in Fédération Internationale de Volleyball Association sports tournaments (FIVA). Kuraray Co., Ltd. and FIVA have also entered a 10-year supplier agreement. (FIVA). Kuraray Co., Ltd. and FIVA have also entered a 10-year supplier agreement.

Synthetic Leather Market Segmentation

By Product

  • PU
  • PVC
  • Bio-based

By Application

  • Furnishing
  • Automotive
  • Footwear
  • Bags and Wallets
  • Clothing
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America
  • The Middle East and Africa
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Need Assistance?
+1 646 480 7505 (U.S.)
+44 208 068 9665 (U.K.)

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers