India Polyurethane Synthetic Leather Market To Reach $12.32 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

India Polyurethane Synthetic Leather Market Growth & Trends

The India polyurethane synthetic leather market size is expected to reach USD 12.32 billion by 2030, registering a CAGR of 7.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Augmented demand in the automotive and footwear industries is likely to drive the market over the forecast period.

Increasing penetration of PU synthetic leather materials in the automotive sector, especially in car seats, is expected to be a critical factor for market growth over the forecast period. Automobile manufacturers are increasingly opting for synthetic leather materials owing to their higher durability, wear resistance, and cost-effectiveness. The footwear industry has been a key end user of polyurethane artificial leather market considering its usage in men and women’s footwear, including boots, sneakers, and sandals. It has been replacing ethylene vinyl acetate (EVA) and polyvinyl chloride (PVC) in footwear on account of its ease in designing as well as processing.

In 2016, India was the second-largest manufacturer of footwear in the world, accounting for approximately 9.0% of the annual global production. Increasing investments by foreign players in the footwear industry are anticipated to further drive penetration of polyurethane faux leather market in future. The Indian footwear industry has also received immense support from the government, recognizing it as a priority sector, and has introduced beneficial policy reforms that are likely to work in its favor.

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India Polyurethane Synthetic Leather Market Report Highlights

The furnishing segment dominated the market in 2023 with a share of 32.9% owing to the rising usage of synthetic leathers for manufacturing furniture.
The automotive segment is expected to grow at a CAGR of 9.3% over the forecast period attributed to rising demand for synthetic leather for manufacturing of automotive parts such as seats, steering wheel covers, armrests, door knobs, and more.
One of the major companies in the Indian polyurethane (PU) synthetic leather (artificial leather) market is Giriraj Coated Fab PVT. LTD., Knitwell Industries, Natroyal Industries Pvt. Ltd., Nirmal Fibres (P) Ltd., and others.