Asia Pacific Synthetic Leather Market Size & Outlook
Asia Pacific synthetic leather market, 2018-2030 (US$M)
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Asia Pacific synthetic leather market highlights
- The Asia Pacific synthetic leather market generated a revenue of USD 17,246.9 million in 2023.
- The market is expected to grow at a CAGR of 9% from 2024 to 2030.
- In terms of segment, pu synthetic leather was the largest revenue generating type in 2023.
- PU synthetic leather is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 17,246.9 million |
| Market revenue in 2030 | USD 31,566.5 million |
| Growth rate | 9% (CAGR from 2023 to 2030) |
| Largest segment | Pu synthetic leather |
| Fastest growing segment | PU synthetic leather |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PU synthetic leather, PVC Synthetic Leather, Bio-based Leather |
| Key market players worldwide | Kuraray Co Ltd, Air Water Inc, Teijin Ltd, Mayur Uniquoters, Nan Ya Plastics, H.R. Polycoats, Velcro, San Fang Chemical Industry |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 44.2% of the global synthetic leather market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 31,566.5 million by 2030.
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Synthetic Leather Market Scope
Synthetic Leather Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific synthetic leather market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to synthetic leather market will help companies and investors design strategic landscapes.
Pu synthetic leather was the largest segment with a revenue share of 62.23% in 2023. Horizon Databook has segmented the Asia Pacific synthetic leather market based on pu synthetic leather, pvc synthetic leather, bio-based leather covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of synthetic leather market in Asia Pacific is projected to be negatively impacted due to the COVID-19 pandemic. The pandemic has led to the limitations on cross-border trade, lockdowns imposed by various governments, and waning consumer demand.
China is one of the prominent markets for synthetic leather in terms of production and sales. The outbreak of COVID-19 has severely affected the country’s manufacturing output and compelled several manufacturers to either close or slow down their operations to contain the spread of the virus.
Major market players are targeting developing regions to cater to the rising product demand and increase their profitability. Extensive application of synthetic leather in luggage, boots, shoes, wallets, bags, and several other consumer goods is anticipated to drive artificial leather market in this region over the forecast period.
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Our clientele includes a mix of synthetic leather market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific synthetic leather market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific synthetic leather market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific synthetic leather market size, by country, 2018-2030 (US$M)
Asia Pacific Synthetic Leather Market Outlook Share, 2023 & 2030 (US$M)
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