Synthetic Leather Market Analysis

Application (Footwear, Furnishing, Automotive, Bags & Shoes, Clothing, Electronics, Sports)

In synthetic leather market, footwear segment is poised to account for more than 30% share by the end of 2037 due to a variety of interrelated variables, a combination of artistic, ethical, and economic factors contribute to its dominance.

For shoe manufacturers, synthetic leather is an economical option that combines affordability, style, and quality in a seamless manner. Its innate resilience is crucial because it bears the strains of regular use while maintaining its shape and aesthetic appeal over time. Its prominence in the footwear sector is further reinforced by the fact that synthetic leather may be personalized.  Worldwide, 23.9 billion pairs of shoes were made in 2022.

Type (PU, PVC, Bio-Based, Microfiber)

In synthetic (PU) leather market, PU segment is estimated to account for more than 28% revenue share by the end of 2037. PU-based synthetic leather is the most widely used type in the synthetic leather market, with applications in clothing, footwear, furnishings, automotive, bags, purses & wallets, and other end-use industries.

Its versatility, affordability, durability, and environmental benefits further contribute to its popularity. Synthetic leather based on synthetic (PU) has a long lifespan since it can tolerate wear and tear. Its appeal is further boosted by ethical and environmental concerns, as it supports sustainable and cruelty-free options.

Our in-depth analysis of the global market includes the following segments: