Synthetic Leather Market by Type, End-user

List of Tables

[196 Pages Report] The Synthetic Leather Market size was estimated at USD 69.21 billion in 2023 and expected to reach USD 73.25 billion in 2024, at a CAGR 6.58% to reach USD 108.16 billion by 2030.

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.

KEY MARKET STATISTICS
Base Year [2023]	USD 69.21 billion
Estimated Year [2024]	USD 73.25 billion
Forecast Year [2030]	USD 108.16 billion
CAGR (%)	6.58%

Type: Growing usage of bio-based synthetic leather that primarily utilizes bio-based polymers

Bio-based synthetic leather is a form of artificial leather that primarily utilizes bio-based polymers derived from natural sources such as vegetable oils and plant materials. This type of leather is developed to cater to the growing demand for sustainable and eco-friendly products. Consumers who prefer bio-based synthetic leather often prioritize environmental impact as well as reduced dependency on fossil fuels. It is particularly appealing in the fashion, automotive, and furniture industries, where sustainability is increasingly valued. PU-based (polyurethane-based) synthetic leather is a popular alternative to genuine leather and traditional PVC-based synthetics. This type of synthetic leather is favored for its flexibility, durability, and ability to mimic the feel and texture of real leather. It is also more environmentally friendly compared to PVC-based synthetic leather, as it does not release harmful dioxins upon disposal. Consumers looking for high-quality aesthetics, comfort, and reduced environmental impact often choose PU-based synthetic leather for upholstery, footwear, and fashion accessories. PVC-based (polyvinyl chloride-based) synthetic leather is a widely used type of faux leather, appreciated for its low cost, water resistance, and easy maintenance. While it is less environmentally friendly than bio-based or PU-based alternatives, it remains popular for its practicality and affordability, particularly in price-sensitive markets and applications such as budget footwear, bookbinding, and certain upholstery contexts.

End-user: Growing potential of synthetic leather across the automotive sector due to its durability and ease of maintenance

In the automotive sector, synthetic leather is widely used due to its durability, ease of maintenance, and lower cost compared to genuine leather. It finds application in car seats, dashboards, door panels, and steering wheel covers. Consumers often prefer synthetic leather in vehicles as it offers a luxurious appearance and is available in various textures and colors. The automotive industry has been transitioning towards more sustainable materials, leading to a demand for eco-friendly synthetic leather options. The demand for synthetic leather in bags, purses, and wallets is driven by fashion trends and the consumer shift towards ethical products, as many opt out of using animal-derived products. This segment values aesthetics, versatility, and cost-effectiveness, which synthetic leather provides. Synthetic leather is popular in clothing for jackets, skirts, and other fashion apparel. This segment looks for synthetic leather that can offer a premium look, comfort in wear, and ease of maintenance. As in bags and wallets, the fashion industry is driven by aesthetic appeal and ethical considerations. Synthetic leather in footwear is favored for its cost-effectiveness, durability, and ability to withstand various environmental conditions. End-users expect a high level of comfort alongside the material's visual appeal. This industry constantly innovates to improve the functional properties of synthetic leather, such as grip, flexibility, and water resistance. Furnishing represents a significant market for synthetic leather due to its use in upholstery, where it offers an affordable and effective alternative to genuine leather. This segment benefits from synthetic leather's ease of cleaning and range of design possibilities. Consumers prioritize resistance to wear, fading, and spills.

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. 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.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Synthetic Leather Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Synthetic Leather Market?

3. What are the technology trends and regulatory frameworks in the Synthetic Leather Market?

4. What is the market share of the leading vendors in the Synthetic Leather Market?

5. Which modes and strategic moves are suitable for entering the Synthetic Leather Market?

Product Code: MRR-0376B2CAB017

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing consumer awareness and preference for animal-free products
  - 5.1.1.2. Availability of regulations for reducing carbon footprint and environmental concerns
  - 5.1.1.3. Increase in the sales of luxury goods and growth in vehicle vehicle production
- 5.1.2. Restraints
  - 5.1.2.1. High cost of development of synthetic leather
- 5.1.3. Opportunities
  - 5.1.3.1. Focus on the development of bio-based synthetic leather
  - 5.1.3.2. Collaborations between synthetic leather manufacturers and fashion brands to introduce high-quality synthetic leather
- 5.1.4. Challenges
  - 5.1.4.1. Availability for substitutes and alternatives for synthetic leather
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of bio-based synthetic leather that primarily utilizes bio-based polymers
- 5.2.2. End-user: Growing potential of synthetic leather across the automotive sector due to its durability and ease of maintenance
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Synthetic Leather Market, by Type

6.1. Introduction
6.2. Bio-Based
6.3. PU-Based
6.4. PVC-Based

7. Synthetic Leather Market, by End-user

7.1. Introduction
7.2. Automotive
7.3. Bags, Purses & Wallets
7.4. Clothing
7.5. Footwear
7.6. Furnishing

8. Americas Synthetic Leather Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Synthetic Leather Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Synthetic Leather Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Investment Boost for Synthetic Leather Firm
- 11.3.2. DK&D to Develop Green Artificial Leather with Chinese Partner
- 11.3.3. General Silicones Launches Vegan Synthetic Leather
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio