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GCC Synthetic Leather Market, By Type (PU Synthetic Leather, PVC Synthetic Leather, Microfiber Leather, Bio-based Leather); By Application (Furnishing, Automotive, Footwear, Wallets, Bags & Purses, Clothing, Others (including Sports, Medical, Electronics); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman), Trend Analysis, Competitive Landscape & Forecast, 2019-2030

GCC Synthetic Leather Market, By Type (PU Synthetic Leather, PVC...

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GCC Synthetic Leather Market, By Type (PU Synthetic Leather, PVC Synthetic Leather, Microfiber Leather, Bio-based Leather); By Application (Furnishing, Automotive, Footwear, Wallets, Bags & Purses, Clothing, Others (including Sports, Medical, Electronics); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman), Trend Analysis, Competitive Landscape & Forecast, 2019-2030
GCC Synthetic Leather Market, By...
Report Code
RO3/142/1008

Publish Date
22/Aug/2024

Pages
200
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Report Overview
A spurring demand for leather goods and rising prices of real leather are expected to boost the growth of GCC Synthetic Leather Market during the forecast period between 2024 and 2030.

GCC Synthetic Leather Market - Industry Trends & Forecast Report, 2030

The GCC Synthetic Leather Market size was estimated to be worth USD 4.78 billion in 2023. During the forecast period between 2024 and 2030, the GCC Synthetic Leather Market size is projected to grow at a CAGR of 7.56%, reaching a value of USD 6.86 billion by 2030.

By volume, the GCC Synthetic Leather Market size was estimated at 0.25 million tons in 2023. During the forecast period between 2024 and 2030, the GCC Synthetic Leather Market size is expected to expand at a CAGR of 6.98%, reaching a volume of 0.42 million tons by 2030.

Major growth factors for the GCC Synthetic Leather Market include its rising demand across various industries, including footwear and furnishings, and the increasing price of genuine leather. Genuine leather is increasingly becoming a luxury material, which is prompting industries to shift towards alternatives, such as PVC leather, which is driving the growth of the GCC synthetic leather market.

Synthetic Leather - Overview

Synthetic leather is generally made of plastic, which is subsequently given a wax, dye, or polyurethane treatment to give it color and texture. It is a suitable fabric for upholstery in households with kids or dogs since it is resistant to cuts and abrasions, even if it is not as durable as real leather. Certain fake leather types use ingredients like polyvinyl chloride that come from petroleum. Genuine leather's texture, look, and durability have all been precisely matched in the design of synthetic leather.

GCC Synthetic Leather Market

Growth Drivers

Increasing Demand for Vegan Products

One of the biggest factors driving the growth of the GCC Synthetic Leather Market is the growing consumer consciousness toward animal cruelty and the rising demand for vegan products, including faux leather. Customers are moving toward ethical and sustainable substitutes, as they become more conscious of the sources of the raw materials used in the items they use. The manufacturing of genuine leather involves animal hides and skins and huge volumes of water and dyes for cleaning and coloring, which proves deteriorating for not only animals but also the environment. As a result, consumers are switching to synthetic leather.

Challenges

Negative Impact of Synthetic Leather on Environment

Even with all of its advantages as a vegan product, synthetic leather nevertheless degrades the environment because it is not biodegradable. This is because synthetic leather is made of petroleum-based plastic and chemicals. Although it might offer a more cost-effective and long-lasting substitute for real leather, certain PU leather items could include hazardous substances that are bad for the environment and human health. Additionally, fake leather might cause greater sweating since it is less breathable than genuine leather. Such factors may limit the growth of the GCC Synthetic Leather Market.

GCC Synthetic Leather Market

Segmental Coverage

GCC Synthetic Leather Market - By Type

Based on type, the GCC Synthetic Leather Market is segmented into PU synthetic leather, PVC synthetic leather, microfiber leather, and bio-based leather. The PU synthetic leather segment holds the largest share of the GCC Synthetic Leather Market. In terms of performance, PU leather is well known for its sturdiness, resilience to wear and tear, and increased resistance to color fading and scratches. Generally speaking, synthetic leather is more economical than real leather. This can increase its appeal in the production of low-cost products, which greatly fuels its market expansion.

GCC Synthetic Leather Market - By Application

Based on application, the GCC Synthetic Leather Market is divided into furnishing, automotive, footwear, wallets, bags & purses, clothing, and other (including sports, medical, and electronics) segments. The footwear segment accounts for the highest market share in the market by application. Synthetic leather is increasingly gaining traction as a cost-effective and cruelty-free alternative to animal-based leather for producing a wide range of footwear products, such as shoe lining, shoe uppers, and soles. The artificial leather is incredibly sturdy and durable, and it controls temperature to keep the user cool and dry from the feet up, which contributes to its market growth in GCC countries.

GCC Synthetic Leather Market - By Country

The in-depth research report on the GCC Synthetic Leather Market covers the market in Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman. Saudi Arabia has the largest GDP and the highest purchasing power of customers in the GCC, which helps it dominate the synthetic leather business. Bahrain's high GDP per capita, when compared to other GCC nations, accounts for a significant portion of its market share. The high purchasing power of consumers in these regions directly boosts the demand for synthetic leather-based goods, such as footwear, bags, and purses, as well as automotive seat upholstery.

Competitive Landscape

Major players operating in the GCC Synthetic Leather Market include Dow, BASF SE, Covestro AG, Nour El Doha, Adim Leather Company, Teijin Cordley Limited, and Wacker Chemie. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

In January 2024 - Lamees Alfadhel, a product designer based in Saudi Arabia, developed Qitmeer, a machine that makes vegan leather sheets using dates.

By Type

PU Synthetic Leather

PVC Synthetic Leather

Microfiber Leather

Bio-based Leather

By Application
Furnishing
Automotive
Footwear
Wallets, Bags & Purses
Clothing
Others (including Sports, Medical, Electronics)

By Country
Saudi Arabia
UAE
Qatar
Bahrain
Kuwait
Oman

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