Polyurethane Leather Market Report and Forecast 2025-2034

The global polyurethane leather market is being aided by the rising synthetic leather market, which reached a value of about USD 31.26 Billion in 2024. The synthetic leather market is further expected to grow at a CAGR of 4.90% in the forecast period of 2025-2034 to reach a value of USD 50.44 Billion by 2034.

The Asia-Pacific to Provide Enhanced Opportunities to the Polyurethane Leather Industry for its Growth

The Asia-Pacific is expected to witness a robust growth over the forecast period. The emerging markets in the region, such as China, India, Thailand, and Vietnam, are anticipated to play a major role in product demand. The growing usage of polyurethane leather in the footwear industry is significantly contributing to the industry growth. The growing population and the escalating disposable incomes are resulting in the increased demand for leather and luxury products in the region, which, in turn, is driving the demand for polyurethane leather as a raw material. Europe is another significant market for the product. However, the recent spread of COVID-19 across the globe has adversely impacted the demand for PU leather due to the stringent government restrictions put in place to curb the spread of the pandemic.

Polyurethane Leather: Market Segmentation

Polyurethane leather, also referred to as PU leather, is a type of artificial/synthetic leather obtained from thermoplastic polymer. The synthetic leather products are prepared through the process of coagulation, wherein polyurethane is combined with dimethylformamide and cellulose fibre to finally produce polyurethane leather as the end product. In comparison to other types of synthetic leather, PU leather provides benefits like better tensile strength, rigidity, compression, surface friction, and roughness. Its major applications include footwear, clothing, and bags and wallet, among others.

Based on application, the market is divided into:

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

On the basis of sales channel, the industry can be segmented into:

• OEM (Original Equipment Manufacturer)
• Aftersales

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Analysis

The global market for polyurethane leather is being driven by the growing demand for products prepared from synthetic leather owing to their premium look and quality. PU leather is an affordable alternative to genuine leather, which is increasingly replacing its applications in handbags, car furnishings, clothing, and others. Further, it enables the production of lightweight, breathable, and waterproof materials. The growing trend of athleisure and the rising demand for athletic shoes are significantly contributing to the industry growth as footwear is one of the major applications of the product. The market is also supported by the increasing disposable incomes and rising living standards. Since PU does not emit dioxins, it is considered an eco-friendlier alternative over other synthetic leathers like polyvinyl chloride (PVC) leather. Over the forecast period, the new product innovations by the manufacturers are expected to further propel the industry growth.

Key Industry Players in the Global Polyurethane Leather Market

The report gives a detailed analysis of the following key players in the global polyurethane leather market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Stahl Holdings B.V.
• Ocean Plastic Co., Ltd.
• DOW chemical Company
• BZ Leather Company
• DAEWON Chemical
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.