Synthetic Leather Market Size, Share, Demand & Trends by 2032
A recently published study by FMI expects the global synthetic leather market to augment at a 6% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 50 Billion is expected for the market. Manufacturing, innovation and use of synthetic leather is undergoing several changes. This has led to the rapid adoption of synthetic leather in various end user industries. From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 1% and closing at US$ 26.34 Billion. Although the COVID-19 pandemic affected the sales of synthetic leather, post-pandemic, the sales of the same have increased owing to its various properties. Manufacturers are now making synthetic leather made of environmentally friendly materials. Furthermore, key players in the synthetic leather market are launching products that make wide use of synthetic leathers, thus, increasing use of the same. The use of synthetic leather in automotive, consumer electronic