South Korea Synthetic Leather Market Size & Outlook
South Korea synthetic leather market, 2018-2030 (US$M)
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South Korea synthetic leather market highlights
- The South Korea synthetic leather market generated a revenue of USD 1,785.1 million in 2023 and is expected to reach USD 3,275.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.1% 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 1,785.1 million |
| Market revenue in 2030 | USD 3,275.4 million |
| Growth rate | 9.1% (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, South Korea accounted for 4.6% 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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South Korea 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 56.72% in 2023. Horizon Databook has segmented the South Korea 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.
Synthetic leather industry in Korea has exhibited rapid growth in the recent past on account of the slowdown in synthetic leather industry in Japan. South Korea has witnessed an increase in demand for synthetic leather footwear and garments among consumers.
The domestic market is largely dependent on imported raw materials. However, it benefits from easy availability of cheap labor, which is facilitating the overall growth of synthetic leather market in Korea. The production capabilities are expected to expand in the urban areas over the forecast period, which is, in turn, likely to create lucrative opportunities for new market entrants.
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Our clientele includes a mix of synthetic leather market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea synthetic leather market , including forecasts for subscribers. This country databook contains high-level insights into South Korea synthetic leather market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea synthetic leather market size, by type, 2018-2030 (US$M)
South Korea Synthetic Leather Market Outlook Share, 2023 & 2030 (US$M)
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