Latin America Synthetic Leather Market Size & Outlook
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Latin America synthetic leather market highlights
- The Latin America synthetic leather market generated a revenue of USD 2,983.1 million in 2024.
- The market is expected to grow at a CAGR of 11.7% from 2025 to 2033.
- In terms of segment, automotive was the largest revenue generating leather type in 2024.
- Automotive is the most lucrative leather type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2033.
Latin America data book summary
| Market revenue in 2024 | USD 2,983.1 million |
| Market revenue in 2033 | USD 8,083.0 million |
| Growth rate | 11.7% (CAGR from 2025 to 2033) |
| Largest segment | Automotive |
| Fastest growing segment | Automotive |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Furnishing, Automotive, Footwear, Wallets, Bags & Purses, Clothing, Other Applications |
| 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, Latin America region accounted for 7.3% of the global synthetic leather market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- North America is the fastest growing regional market and is projected to reach USD 26,267.6 million by 2033.
Automotive was the largest segment with a revenue share of 32.24% in 2024. Horizon Databook has segmented the Latin America synthetic leather market based on furnishing, automotive, footwear, wallets, bags & purses, clothing, other applications covering the revenue growth of each sub-segment from 2021 to 2033.
The Brazil leather industry is characterized by the abundant indigenous raw material supply coupled with substantial stock supply from neighboring countries, extensive production of footwear & leather goods, especially travel accessories, and strong connection with the U.S. leather market.
This has created lucrative growth opportunities for the overall synthetic leather market in the region. The CSA synthetic leather market is being negatively affected by the increasing global production of genuine leather.
The strengthening presence of genuine leather industry is negatively impacting the exports of synthetic leather. In addition, the ongoing health crisis and economic slowdown caused by the spread of coronavirus disease has further hampered the market growth in the region.
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Synthetic Leather Market Scope
Synthetic Leather Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| San Fang Chemical Industry | View profile | 1001-5000 | Kaohsiung, T'ai-wan, Taiwan, Asia | https://www.sanfang.com/ |
| Velcro | View profile | 5001-10000 | Manchester, New Hampshire, United States, North America | http://www.velcro.com/ |
| H.R. Polycoats | View profile | 501-1000 | Bahadurgarh, Haryana, India, Asia | https://www.hrcheetal.com |
| Nan Ya Plastics | View profile | 251-500 | Taipei, T'ai-pei, Taiwan, Asia | https://www.npc.com.tw/j2npc/zhtw/ |
| Mayur Uniquoters | View profile | 251-500 | Jaipur, Rajasthan, India, Asia | http://mayuruniquoters.com |
| Air Water Inc | View profile | 26566 | 12-8, Minami Semba 2-chome, Chuo-ku, Osaka, Japan, 542-0081 | http://www.awi.co.jp |
| Teijin Ltd | View profile | 24499 | 6-7, Minami Hommachi 1-chome, Chuo-ku, Osaka, Japan, 541-8587 | http://www.teijin.co.jp |
| Kuraray Co Ltd | View profile | 13161 | Ote Center Building,1-1-3, Otemachi, Chiyoda-ku, Tokyo, Japan, 100-8115 | http://www.kuraray.co.jp |
Latin America synthetic leather market size, by country, 2021-2033 (US$M)
Latin America Synthetic Leather Market Outlook Share, 2024 & 2033 (US$M)
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