Latest Market Research Report 2025

  Synthetic Leather Market Growth & Trends According to a new report by Grand View Research, Inc., the global  synthetic leather market  is expected to reach a valuation of USD 66.24 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.87% from 2024 to 2030. This significant growth trajectory is driven by a range of socio-environmental and economic factors, including heightened consumer awareness regarding animal welfare and increased regulatory restrictions on the production of natural leather. One of the primary factors propelling the demand for synthetic leather is the growing consciousness among consumers about animal exploitation. Organizations such as People for the Ethical Treatment of Animals (PETA) and other animal rights groups have been actively advocating against the use  o f animal-derived products, thereby encouraging consumers and manufacturers to adopt ethical alternatives like synthetic leather. This shift in ...

The   global synthetic leather market   was valued at   USD 38.98 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.87% from 2024 to 2030. This growth is primarily driven by increasing demand across key sectors such as footwear,   fashion accessories,   automotive, and   furniture, with synthetic leather emerging as a viable alternative to traditional animal-based leather. As industries continue to seek more cost-effective, durable, and sustainable materials, synthetic leather has gained significant traction. One of the primary factors fueling market growth is the rising demand from the footwear sector. Synthetic leather is extensively used in the production of shoes due to its affordability, versatility, and ease of customization. With the increasing global population and rising disposable incomes, footwear has become a significant category in the consumer market. Synthetic leather's ability to mimic the look and fe...

The  global synthetic leather market  was estimated at  USD 38.98 billion in 2023  and is projected to experience significant growth, with a compound annual growth rate (CAGR) of  7.87% from 2024 to 2030 . This promising growth trajectory is primarily driven by the increasing demand from the  footwear sector , which is expected to play a pivotal role in propelling the overall market forward. One of the critical factors contributing to this demand is the high cost of  natural leather , prompting manufacturers and consumers to seek cost-effective alternatives. Synthetic leather, particularly  PVC leather , has gained substantial popularity due to its versatility, finding applications in a wide array of products such as shopping bags, cosmetic bags, wallets, suitcases, purses, and travel bags. In the  U.S. synthetic leather market , there has been a notable rise in consumption recently, with further increases anticipated in the coming years. A s...

  The global synthetic leather market was valued at approximately USD 38.98 billion in 2023, and it is forecasted to expand at a compound annual growth rate (CAGR) of 7.87% from 2024 to 2030. One of the primary drivers of this growth is the rising global demand for synthetic leather within the footwear industry. The high cost of natural leather has led many manufacturers to seek alternative materials, with synthetic leather emerging as a popular substitute.   PVC leather , a notable type of synthetic leather, has gained popularity for its versatility, being widely used in products such as shopping bags, cosmetic bags, wallets, suitcases, purses, and travel bags. In the U.S., consumption of synthetic leather has significantly increased in recent years, and this upward trend is expected to continue. A substantial rise in the demand for  automotive synthetic leather upholstery  is a key factor driving the market’s growth in the U.S. Efforts to strengthen supply chains w...

  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 s...