Global Synthetic Leather or Artificial Leather Market
Paper, Plastics, Rubber, Wood And Textile Manufacturing

Understand How The Synthetic Leather or Artificial Leather Market Is Set To Grow In Through 2024-2033

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


Market Growth Overview

  • Recent Growth:
    • 2023: $33.25 billion
    • 2024: $36.04 billion
    • CAGR: 8.4%
  • Key Drivers:
    • Advancements in texturing
    • Enhanced durability and versatility
    • Cost efficiency
    • Fashion and design trends
    • Increased automotive sector demand

Future Market Projections

  • Forecast Growth:
    • 2028: $48.7 billion
    • CAGR: 7.8%
  • Key Drivers:
    • Focus on environmental sustainability
    • Evolving fashion industry trends
    • Continued demand in the automotive sector
    • Innovative applications
    • Customization and adaptability


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Major Trends

  • Furniture and Upholstery: Increasing use in home and office decor.
  • Sustainability Focus: Growing consumer preference for eco-friendly products.
  • Animal Welfare Concerns: Ethical considerations driving demand for synthetic alternatives.
  • Fashion and Design Trends: Popularity in high-fashion and everyday wear.
  • Regulatory Compliance: Meeting stringent environmental and safety standards.

Athleisure Trend Fuels Growth

  • Definition: Casual attire for both exercise and daily wear.
  • Benefits of Synthetic Leather:
    • Cost-effective alternative to genuine leather
    • Comparable appearance and feel to real leather
    • More environmentally friendly production process
  • Market Impact:
    • Example: True Fit reported an 84% increase in athleisure sales from 2020 to 2021.
  • Key Companies: H. R. Polycoats Pvt. Ltd., Kuraray Co. Ltd., Alfatex Italia SRL, among others.

Innovation in Style and Sustainability

  • Product Innovation:
    • Focus: Developing new artificial leather for diverse applications.
    • Example: General Silicones’ Compo-SiL (SL series) launched in April 2023.
      • Features: Vegan leather, various textures, factory-applied fabric lining.
      • Applications: Bags, backpacks, shoes, wallets, belts, book bindings, and covers.
      • Benefits: PETA-approved, high-quality vegan leather options.

Strategic Acquisitions

  • Expansion:
    • Example: Coronet Group’s acquisition of Synt3 Srl in April 2022.
    • Impact: Increased manufacturing capacity to 20 million linear meters.
      • Facilities: 8 coating and 4 coagulation lines, multiple finishing operations, 5 R&D centers.

Market Segmentation

  • By Type:
    • Polyurethane (PU)-Based
    • Polyvinyl Chloride (PVC)-Based
    • Bio-Based
  • By Grade:
    • High-Grade
    • Mid-Grade
  • By Application:
    • Footwear
    • Furnishing
    • Automotive
    • Clothing
    • Bags, Purses, and Wallets

Regional Insights

  • Largest Market: Asia-Pacific in 2023.
  • Fastest Growing Region: Expected to be Asia-Pacific during the forecast period.

In summary, the synthetic leather/artificial leather market is poised for substantial growth driven by advancements in technology, increasing demand across various industries, and a shift towards sustainable and ethical products. Major trends and strategic moves by key companies will further bolster the market’s expansion in the coming years.


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The Synthetic Leather or Artificial Leather Global Market Report 2024  provides an overview of the synthetic leather or artificial leather market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The synthetic leather or artificial leather market forecast analyzes synthetic leather or artificial leather market size, synthetic leather or artificial leather market share, leading competitor and their market positions.


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