Synthetic Leather/Artificial Leather Market is Forecasted to Reach a Value of US $52.84 Billion by 2029

The Business Research Company

The Business Research Company's Synthetic Leather/Artificial Leather Market is Forecasted to Reach a Value of US $52.84 Billion by 2029

Expected to grow to $52.84 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, December 4, 2025 /EINPresswire.com/ -- "Get 20% Off All Global Market Reports With Code ONLINE20 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

What Is The Expected Cagr For The Synthetic Leather/Artificial Leather Market Through 2025?
The market size for synthetic leather or artificial leather has witnessed significant growth lately. The estimation is that it will rise from $35.81 billion in 2024 to hit a mark of $38.32 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%.

The market size of synthetic leather/artificial leather is predicted to experience robust expansion in the approaching years, escalating to $52.84 billion in 2029 with an 8.4% compound annual growth rate (CAGR). The surging growth during the forecasted duration is attributed to elements such as environmental sustainability, trends in the fashion industry, demand within the automotive industry, innovative use cases, and the capacity for customization and adaptability. The projected period will additionally witness growing trends in furniture and upholstery, sustainability initiatives, concerns around animal welfare, fashion and design developments, and regulatory adherence.

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What Are The Driving Factors Impacting The Synthetic Leather/Artificial Leather Market?
The expanding auto industry is boosting the growth of the synthetic or artificial leather market. The realm of the automotive industry includes companies and activities associated with the conception, creation, manufacture, promotion, and sale of automobiles. The mounting auto industry is a result of several influencing factors such as the growing demand for electric and hybrid cars, increase in consumer income, and various financing alternatives. Even though synthetic or artificial leather is closely linked with the medical industry, it's fundamental technologies, which include precision sensors, data surveillance, and automation, can be beneficial in the automotive industry. For instance, as per auto industry statistics from September 2024, sales of passenger cars in the UK increased by 10%, hitting 275,239 units in 2024. Consequently, the burgeoning automotive industry will propel the synthetic or artificial leather market forward.

Which Players Dominate The Synthetic Leather/Artificial Leather Industry Landscape?
Major players in the Synthetic Leather/Artificial Leather include:
• H. R. Polycoats Pvt. Ltd.
• Kuraray Co. Ltd.
• Alfatex Italia SRL
• Yantai Wanhua Synthetic Leather Group Co. Ltd.
• San Fang Chemical Industry Co. Ltd.
• Filwel Co. Ltd.
• Nan Ya Plastics Corporation
• Teijin Limited
• Zhejiang Hexin Industry Group Co. Ltd.
• Jiaxing Hexin Chemical Industry Co. Ltd.

What Are The Future Trends Of The Synthetic Leather/Artificial Leather Market?
The leading trend in the synthetic leather/artificial leather market is product innovation. Firms within this sector, including key players, prioritize the creation of novel artificial leather products to expand their usage across various industries. A case in point is the introduction of Compo-SiL (SL series) silicone vegan leather items by General Silicones, a Taiwan-based silicone goods manufacturer, in April 2023. These products are particularly designed for organizations producing consumer items such as bags, backpacks, footwear, wallets, belts, book covers, and bindings, that require vegan leather supplies with a pre-applied fabric lining from the factory. The SL series leather offers multiple surface finishes, for customers to select from, including not only stripes and matte but also lambskin, calf, and bovine textures. The distinctive attributes of silicone rubber and the Compo-SiL method present suppliers pursuing a reliable source of superb PETA-certified vegan leather with significant benefits over conventional leather goods.

Global Synthetic Leather/Artificial Leather Market Segmentation By Type, Application, And Region
The synthetic leather/artificial leather market covered in this report is segmented –

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

Subsegments:
1) By Polyurethane (PU)-Based: Flexible PU Leather, Rigid PU Leather
2) By Polyvinyl Chloride (PVC)-Based: Rigid PVC Leather, Flexible PVC Leather
3) By Bio-Based: Plant-Based Leather, Other Bio-Based Materials

View the full synthetic leather/artificial leather market report:
https://www.thebusinessresearchcompany.com/report/synthetic-leather-or-artificial-leather-global-market-report

Which Region Holds The Largest Market Share In The Synthetic Leather/Artificial Leather Market?
In 2024, the Asia-Pacific region held the largest share in the synthetic leather/artificial leather market. It is projected to also be the swiftest growing region throughout the forecast period mentioned in the report on the global synthetic leather/artificial leather market. This report involves information on regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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