PU Leather Market size is estimated to be USD 9.73 Billion in 2024 and is expected to reach USD 16.10 Billion by 2033 at a CAGR of 6.1% from 2026 to 2033.
South Korea's PU Leather Market: Types and Industry Requirements
South Korea's synthetic leather market has witnessed remarkable growth, with PU (polyurethane) synthetic leather emerging as a dominant segment. In 2023, the market generated a revenue of USD 1,785.1 million and is projected to reach USD 3,275.4 million by 2030, growing at a CAGR of 9.1%. PU synthetic leather accounted for the largest revenue share in 2023 and is expected to continue its dominance due to its superior properties and eco-friendly nature.
PU synthetic leather is favored for its high elasticity, solvent resistance, and tensile strength, making it suitable for various applications. The automotive industry, in particular, has seen a surge in the use of PU leather for interior components. This trend is driven by the material's lightweight nature, durability, and resistance to temperature variations and spills, enhancing passenger comfort and reducing maintenance needs.
In the fashion sector, the rise of K-fashion has amplified the demand for synthetic materials in apparel and accessories. Consumers increasingly seek sustainable and cruelty-free products, positioning PU leather as an ethical alternative to genuine leather. Additionally, advancements in technology have led to the development of smart synthetic leathers with antibacterial and self-cleaning properties, further expanding their appeal.
Despite the positive outlook, the PU leather market faces challenges. Manufacturers must address quality inconsistencies arising from variations in raw materials and production processes. Continuous innovation is essential to keep pace with evolving consumer preferences and design trends, necessitating significant investment in research and development.
South Korea's synthetic leather industry also contends with competition from imports. In December 2024, the country imported leather articles worth $326 million, primarily from China, Italy, and France, while exports totaled $37.1 million. This trade imbalance underscores the need for domestic manufacturers to enhance product quality and innovation to strengthen their market position.
Government initiatives promoting sustainability and technological advancements are expected to support the growth of bio-based synthetic leathers. These materials, derived from renewable sources, align with global environmental goals and cater to the increasing consumer demand for eco-friendly products.
In summary, South Korea's PU leather market is poised for continued expansion, driven by its versatility, environmental benefits, and alignment with industry trends. Addressing challenges related to quality control and innovation will be crucial for manufacturers aiming to capitalize on the growing demand across various sectors.
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Kuraray
Toray
Teijin
Nanya
Favini
Sappi
Asahi Kansei
Ducksung
DAEWON Chemical
Filwel
Kolon
Sanfang
Wenzhou Imitation Leather
Anhui Anli
Fujian Tianshou
Shandong Jinfeng
Yantai Wanhua
Shandong Tongda
Jiaxing Hexin
Kunshan Xiefu
Huafeng Group
Wenzhou Huanghe
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea PU Leather Market
Coated PU Leather
Uncoated PU Leather
Microfiber PU Leather
Expanded PU Leather
Bags and Handbags
Footwear
Jackets and Coats
Accessories
Consumer Goods
Automotive
Residential Interior Design
Healthcare
Commercial Spaces
High-Durability PU Leather
Medium-Durability PU Leather
Low-Durability PU Leather
Supermarkets/Hypermarkets
Specialty Stores
Department Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea PU Leather Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea PU Leather Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea PU Leather Market, By Type
6. South Korea PU Leather Market, By Application
7. South Korea PU Leather Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea PU Leather Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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