MARKET OVERVIEW:
Global synthetic suede for automotive market size was valued at USD 662 million in 2024. The market is projected to grow from USD 712 million in 2025 to USD 1,091 million by 2031, exhibiting a CAGR of 7.6% during the forecast period.
Synthetic suede, also known as faux suede or microsuede, is a high-performance fabric typically made from 100% polyester microfiber. Engineered to mimic the soft texture of genuine suede while offering superior durability, this material has become increasingly popular in automotive interiors due to its stain resistance, easy maintenance, and cost-
MARKET INSIGHT & GROWTH DRIVERS:
Market growth is being propelled by accelerating eVTOL prototype developments and regulatory approvals globally.
USD 4.26 billion USD 4.45 billion 4.5% Click Here for More Detailed
MARKET SEGMENTATION:
MARKET DYNAMICS
Growing Demand for Premium Automotive Interiors to Accelerate Market Expansion
The automotive industry continues to witness a surge in consumer preference for premium interiors, driving demand for high-quality synthetic suede alternatives. With over 81 million vehicles produced globally in 2022, automakers are increasingly adopting synthetic suede to meet evolving consumer expectations for luxury and comfort at accessible price points. This material offers comparable aesthetics to genuine leather with superior durability, easier maintenance, and better resistance to wear - making it particularly attractive for high-traffic interior components.
MARKET OPPORTUNITIES
The rapid expansion of electric vehicle production presents significant growth opportunities for synthetic suede manufacturers capable of adapting their offerings to unique EV requirements. With global EV sales projected to exceed 30 million units annually by 2030, automakers require interior solutions that complement electric vehicles' distinct characteristics. Synthetic suede's lightweight properties help offset battery weight, while engineered variants with enhanced noise absorption contribute to the quiet cabin environments prized in electric models.
COMPANY MISSION
Boron neutron capture therapy (BNCT) is emerging as a promising cancer treatment modality, particularly for difficult-to-treat tumors like glioblastoma. Japan has led clinical adoption with over 200 patients treated since 2020, while China and Europe are ramping up clinical trials. The precision targeting capability of boron-10, when irradiated with low-energy neutrons, minimizes damage to healthy tissues - a significant advantage over conventional radiotherapy. Pharmaceutical companies are investing in boron-containing drug development, with several boron-10 based compounds currently in Phase II/III trials for various oncology indications.
REGIONAL MARKET OUTLOOK
North America
North America is a mature market for automotive synthetic suede, driven by premium vehicle demand and stringent regulatory standards. The region accounts for 16% of global automobile production, with the U.S. being a key manufacturing hub. Luxury automakers like Tesla, Ford, and General Motors increasingly incorporate synthetic suede in seat covers and interiors to enhance aesthetic appeal while complying with flame-retardancy and VOC emission norms.
Europe
Europe's automotive synthetic suede market thrives on stringent EU sustainability directives and strong demand for premium vehicles. Germany, France, and the UK lead consumption, with major automakers like BMW and Mercedes-Benz using synthetic suede for luxury trims. The region's focus on circular economy principles has accelerated R&D in recycled polyester-based suede, with manufacturers like Toray and Kuraray launching eco-friendly variants. However, the economic slowdown in 2023-24 temporarily dampened automotive production, affecting material demand marginally. Long-term growth prospects remain strong due to
COMPETITIVE LANDSCAPE
• Kuraray Co., Ltd. (Japan)
• Toray Industries, Inc. (Japan)
• Teijin Cordley Limited (Japan)
• Huafon Group (China)
• Asahi Kasei Corporation (Japan)
• Kolon Industries, Inc. (South Korea)
• Wanhua Micro Fiber Co., Ltd. (China)
• Hexin Group (China)
These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.
DOWNLOAD FREE SAMPLE PDF
About Us
Founded in 2015, 24chemicalresearch is a trusted name in global chemical industry intelligence. We specialize in delivering high-quality market research reports, empowering over 30+ Fortune 500 clients with data-driven insights for strategic growth. Our team of experienced analysts delivers customized, reliable, and timely research backed by a rigorous methodology. From mining regulatory trends to forecasting market opportunities, our reports help companies navigate industry challenges, stay competitive, and grow confidently.
As a one-stop platform for the chemical sector, we offer:
• Deep specialization in chemical market analysis
• Customized reports tailored to your needs
• A robust portal with free samples, consulting, and competitive insights
