Syndicated Research Studies

Global Synthetic Leather Market Overview The global synthetic leather market was valued at USD 38.98 billion in 2023 and is expected to grow to USD 66.24 billion by 2030, registering a compound annual growth rate (CAGR) of 7.87% from 2024 to 2030. A significant driver of this growth is the steadily increasing global demand from the footwear industry, which continues to be a major consumer of synthetic leather materials. Another crucial factor fueling market expansion is the high cost of natural leather, prompting manufacturers and consumers to seek cost-effective alternatives. PVC leather has gained substantial traction due to its broad range of applications such as shopping bags, cosmetic pouches, wallets, suitcases, purses, and travel bags. In the United States, the synthetic leather market has seen a notable uptick in consumption, a trend expected to continue over the coming years. The rising demand for automotive synthetic leather upholstery is anticipated to further bolster ma...

Synthetic Leather Industry Overview The global synthetic leather market size was valued at USD 31.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. Globally increasing product demand from the footwear sector is expected to be a key factor propelling the overall market growth. Comprised of a cloth base coated with a synthetic resin, artificial leather serves as a suitable alternative, which is also augmenting its demand in various applications including fabrics, footwear, clothing, upholstery, and others where a leather-like finish is required, and the material is unusable, unsuitable, and cost-prohibitive. The production process has evolved over the past few years for the shell coating to go on top of the synthetic polymer blend. Moreover, the rising scope of application across various segments, such as furnishing, automotive, clothing, bags, and others, will drive the market growth. Manufacturers have been spreadin...