Synthetic Leather Market Size

Synthetic Leather Market size was valued at USD 43.18 billion in 2024 and is expected to reach USD 111.9 billion by 2037, expanding at around 7.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of synthetic leather is assessed at USD 45.81 billion. With the rise in popularity of electric vehicles in recent years, the automobile sector has experienced rapid expansion in recent years.

Some of the key trends affecting the automobile industry are the decrease of harmful emissions to protect the environment, the improvement of safety and comfort, and the combination of more affordable and fuel-efficient vehicles. In 2022, 57 million passenger vehicles were made globally.

In addition, synthetic leather's ability to regulate temperature well, provide exceptional comfort, and be easily styled has led to its growing popularity in the fashion industry. In addition, top fashion labels' investments in the creation of artificial leather clothing and shoes, along with rising consumer demand, will accelerate industry expansion in the years to come.

The negative environmental implications of producing natural leather are increasingly known to consumers because of several online and social media efforts. As a result, customers are becoming more inclined to select natural leather substitutes to contribute to environmental protection.