India Synthetic Leather Market Size & Outlook, 2023-2030
India synthetic leather market, 2018-2030 (US$M)
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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 2023 | USD 3,244.9 million |
| Market revenue in 2030 | USD 6,117.9 million |
| Growth rate | 9.5% (CAGR from 2023 to 2030) |
| Largest segment | Pu synthetic leather |
| Fastest growing segment | PU synthetic leather |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, 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 Scope
Synthetic Leather Market Companies
| Name | Profile | # Employees | HQ | Website |
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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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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)
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