India Synthetic Leather Market Size & Outlook, 2023-2030

The synthetic leather market in India is expected to reach a projected revenue of US$ 6,117.9 million by 2030. A compound annual growth rate of 9.5% is expected of India synthetic leather market from 2024 to 2030.
Revenue, 2023 (US$M)
$3,244.9
Forecast, 2030 (US$M)
$6,117.9
CAGR, 2024 - 2030
9.5%
Report Coverage
India

India synthetic leather market highlights

  • The India synthetic leather market generated a revenue of USD 3,244.9 million in 2023 and is expected to reach USD 6,117.9 million by 2030.
  • The India market is expected to grow at a CAGR of 9.5% 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.


Synthetic leather market data book summary

Market revenue in 2023USD 3,244.9 million
Market revenue in 2030USD 6,117.9 million
Growth rate9.5% (CAGR from 2023 to 2030)
Largest segmentPu synthetic leather
Fastest growing segmentPU synthetic leather
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationPU synthetic leather, PVC Synthetic Leather, Bio-based Leather
Key market players worldwideKuraray 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, India accounted for 8.3% of the global synthetic leather market in 2023.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Asia Pacific, China synthetic leather market is projected to lead the regional market in terms of revenue in 2030.
  • China is the fastest growing regional market in Asia Pacific and is projected to reach USD 12,434.1 million by 2030.

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Synthetic Leather Market Companies

Name Profile # Employees HQ Website

India 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 57.15% in 2023. Horizon Databook has segmented the India 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.


India is a country characterized by rising consumption and increasing purchasing power of consumers. The market is witnessing rapid growth in India owing to several government initiatives. Synthetic leather accounts for 80% of the total leather product manufacturing in the country.

China has continued to dump its cheap products in the Indian market since the past few years, which is severely impacting the domestic economy. This scenario has convinced the Indian government to protect the interest of domestic producers and take favorable action in their support.

This has escalated the domestic production of synthetic leather in the country. At present, India exports synthetic leather to the U.S., multiple Middle Eastern countries, Germany, and Russia. However, China continues to give tough competition to India leather industry as a result of competitive pricing.

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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 country-level data and insights on the India synthetic leather market , including forecasts for subscribers. This country databook contains high-level insights into India synthetic leather market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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India synthetic leather market size, by type, 2018-2030 (US$M)

India Synthetic Leather Market Outlook Share, 2023 & 2030 (US$M)

India synthetic leather market size, by type, 2018-2030 (US$M)

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