Asia Pacific Synthetic Leather Market Size & Outlook
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Asia Pacific synthetic leather market highlights
- The Asia Pacific synthetic leather market generated a revenue of USD 19,205.4 million in 2024.
- The market is expected to grow at a CAGR of 12.3% from 2025 to 2033.
- In terms of segment, automotive was the largest revenue generating leather type in 2024.
- Automotive is the most lucrative leather type segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2033.
Asia Pacific data book summary
| Market revenue in 2024 | USD 19,205.4 million |
| Market revenue in 2033 | USD 54,629.4 million |
| Growth rate | 12.3% (CAGR from 2025 to 2033) |
| Largest segment | Automotive |
| Fastest growing segment | Automotive |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Furnishing, Automotive, Footwear, Wallets, Bags & Purses, Clothing, Other Applications |
| 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 46.8% of the global synthetic leather market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- North America is the fastest growing regional market and is projected to reach USD 26,267.6 million by 2033.
Automotive was the largest segment with a revenue share of 31.63% in 2024. Horizon Databook has segmented the Asia Pacific synthetic leather market based on furnishing, automotive, footwear, wallets, bags & purses, clothing, other applications covering the revenue growth of each sub-segment from 2021 to 2033.
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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Synthetic Leather Market Scope
Synthetic Leather Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| San Fang Chemical Industry | View profile | 1001-5000 | Kaohsiung, T'ai-wan, Taiwan, Asia | https://www.sanfang.com/ |
| Velcro | View profile | 5001-10000 | Manchester, New Hampshire, United States, North America | http://www.velcro.com/ |
| H.R. Polycoats | View profile | 501-1000 | Bahadurgarh, Haryana, India, Asia | https://www.hrcheetal.com |
| Nan Ya Plastics | View profile | 251-500 | Taipei, T'ai-pei, Taiwan, Asia | https://www.npc.com.tw/j2npc/zhtw/ |
| Mayur Uniquoters | View profile | 251-500 | Jaipur, Rajasthan, India, Asia | http://mayuruniquoters.com |
| Air Water Inc | View profile | 26566 | 12-8, Minami Semba 2-chome, Chuo-ku, Osaka, Japan, 542-0081 | http://www.awi.co.jp |
| Teijin Ltd | View profile | 24499 | 6-7, Minami Hommachi 1-chome, Chuo-ku, Osaka, Japan, 541-8587 | http://www.teijin.co.jp |
| Kuraray Co Ltd | View profile | 13161 | Ote Center Building,1-1-3, Otemachi, Chiyoda-ku, Tokyo, Japan, 100-8115 | http://www.kuraray.co.jp |
Asia Pacific synthetic leather market size, by country, 2021-2033 (US$M)
Asia Pacific Synthetic Leather Market Outlook Share, 2024 & 2033 (US$M)
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