1h Free Analyst Time
The Synthetic Leather Market size was estimated at USD 69.21 billion in 2023, USD 73.25 billion in 2024, and is expected to grow at a CAGR of 6.58% to reach USD 108.16 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Synthetic leather, also known as artificial or faux leather, is a material intended to substitute for leather in fields such as upholstery, clothing, and other uses where a leather finish is desired and the actual material is cost-prohibitive or unsuitable. Synthetic leather is produced using polyurethane (PU), polyvinyl chloride (PVC, also known as vinyl), and newer environmentally friendly materials. These materials are engineered to mimic the texture, color, and consistency of genuine leather without the ethical and sustainability issues associated with animal leather. Increasing consumer awareness and preference for animal-free products is leading to higher demand for vegan leather, subsequently driving the market growth. Environmental concerns regarding the disposal and recyclability of synthetic leather, particularly PVC-based products, hamper the growth of the market. The growing development of bio-based and recycled materials to produce eco-friendly synthetic leather is expected to create opportunities for market growth.
Regional Insights
Americas represents a substantial landscape for synthetic leather products due to the growing demand for high-quality and durable alternatives to genuine leather, driven by an increased awareness of animal welfare and environmental issues. Customers in the Americas are exhibiting a marked shift towards ethical consumption, resulting in a preference for products that align with these values. The demand for luxury car interiors and designer apparel that incorporates synthetic leather is notably impacting the market dynamics in this region. The synthetic leather market in the EU countries is heavily influenced by stringent regulations on production and waste management, nurturing a market for high-quality and eco-friendly synthetic leather. Consumer demand here is guided by strict environmental protocols and a high standard of living, which demands premium-quality products. In the Middle East, luxury goods consumption, including high-end vehicles and fashion, is a significant driver of the synthetic leather market, while in Africa, the market is still emerging but showing potential for growth in automotive and upholstery applications. The Asia Pacific region represents a significant market for synthetic leather, primarily driven by the presence of a manufacturing base and a growing consumer class, leading to increased demand for a wide range of synthetic leather products, including footwear, apparel, and automotive interiors. In terms of customer purchasing behavior, Asian consumers have shown an increasing preference for vegan and eco-friendly products, influencing the rise in synthetic leather demand. This shift is supported by a young population intrigued by fashion trends that are ethical and sustainable.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Synthetic Leather Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Synthetic Leather Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Synthetic Leather Market, highlighting leading vendors and their innovative profiles. These include Alfatex Italia SRL, Bayer AG, Daewon Chemical Co., Ltd., Dik Leather Corporation, DuPont de Nemours, Inc., Fabrik S.r.l, Filwel Co. Ltd., H.R. Polycoats Pvt. Ltd., Industria Chimica Adriatica S.p.A., Jasch Industries Limited, Jiangsu Zhongxin Resources Group Co., Ltd., Kolon Industries, Inc., Kuraray Co., Ltd., Leathertex S.R.L., Mayur Uniquoters Limited, Meisheng Group Co., Ltd., Muhe Mizhu Industrial Co., Ltd., Nan Ya Plastics Corporation, San Fang Chemical Industry Co., Ltd., Teckwah Industrial Corporation Ltd., Teijin Limited, Toray Industries, Inc., Yantai Wanhua Synthetic Leather Group Co., Ltd., and Zhejiang Hexin Industry Group Co., Ltd.Market Segmentation & Coverage
This research report categorizes the Synthetic Leather Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Bio-Based
- PU-Based
- PVC-Based
- End-user
- Automotive
- Bags, Purses & Wallets
- Clothing
- Footwear
- Furnishing
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Synthetic Leather Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Synthetic Leather Market?
- What are the technology trends and regulatory frameworks in the Synthetic Leather Market?
- What is the market share of the leading vendors in the Synthetic Leather Market?
- Which modes and strategic moves are suitable for entering the Synthetic Leather Market?
Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report
Please note: This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.
With the purchase of this report at the Multi-user License or greater level, you will have access to one hour with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This will need to be used within three months of purchase.
This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Synthetic Leather Market, by Type
7. Synthetic Leather Market, by End-user
8. Americas Synthetic Leather Market
9. Asia-Pacific Synthetic Leather Market
10. Europe, Middle East & Africa Synthetic Leather Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
List of Figures
List of Tables
Companies Mentioned
- Alfatex Italia SRL
- Bayer AG
- Daewon Chemical Co., Ltd.
- Dik Leather Corporation
- DuPont de Nemours, Inc.
- Fabrik S.r.l
- Filwel Co. Ltd.
- H.R. Polycoats Pvt. Ltd.
- Industria Chimica Adriatica S.p.A.
- Jasch Industries Limited
- Jiangsu Zhongxin Resources Group Co., Ltd.
- Kolon Industries, Inc.
- Kuraray Co., Ltd.
- Leathertex S.R.L.
- Mayur Uniquoters Limited
- Meisheng Group Co., Ltd.
- Muhe Mizhu Industrial Co., Ltd.
- Nan Ya Plastics Corporation
- San Fang Chemical Industry Co., Ltd.
- Teckwah Industrial Corporation Ltd.
- Teijin Limited
- Toray Industries, Inc.
- Yantai Wanhua Synthetic Leather Group Co., Ltd.
- Zhejiang Hexin Industry Group Co., Ltd.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 186 |
| Published | March 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 73.25 Billion |
| Forecasted Market Value ( USD | $ 108.16 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 24 |
