For the Quarter Ending December 2025
North America
• In the USA, the Leatherette Price Index remained largely stable in December 2025, reflecting balanced imports and moderate domestic demand from footwear, automotive, and furniture sectors.
• Leatherette Spot Price stayed rangebound as distributors relied on existing inventories, limiting short-term price volatility.
• Leatherette Price Forecast indicates modest near-term variability, with minor upticks expected from pre-holiday restocking.
• Leatherette Production Cost Trend remained steady as polyurethane and pigment feedstock costs stabilized, allowing converters to maintain margins.
• Leatherette Demand Outlook was mixed, with footwear and furniture segments showing softness while automotive and industrial upholstery supported baseline consumption.
• Price Index movements reflected ample warehouse stocks, smooth port arrivals, and consistent domestic distribution.
• Import flows from Asia and Europe ensured adequate allocation, preventing spot shortages and abrupt price spikes.
Why did the price of Leatherette change in December 2025 in the USA?
• Steady imports and sufficient warehouse inventories maintained supply-demand balance, keeping prices stable.
• Efficient inland logistics and distributor stock management mitigated potential price increases from delayed shipments.
• Muted consumer spending and moderate industrial uptake limited upside, allowing only minor price adjustments.
APAC
• In India, the Leatherette Price Index fell by 1.04% quarter-over-quarter, reflecting balanced imports, subdued demand.
• The average Leatherette price for the quarter was approximately USD 3124.03/MT, based on consolidated trades.
• Limited spot buying and steady shipments kept the Leatherette Spot Price stable despite currency pressures.
• Seasonal buying and logistic constraints shaped the Leatherette Price Forecast, suggesting modest near-term pricing variability.
• Stabilized feedstock costs supported the Leatherette Production Cost Trend, enabling converters to manage margins effectively.
• Leatherette Demand Outlook remained mixed as footwear softness offset automotive, furniture restocking ahead of holidays.
• Leatherette Price Index movements reflected balanced inventories, proactive importer stock management, uninterrupted Chinese export flows.
• Export resumption and domestic scheduling pressured allocations, keeping spot liquidity adequate, preventing Leatherette price spikes.
Why did the price of Leatherette change in December 2025 in APAC?
• Consistent imports from China ensured uninterrupted supply, keeping prices stable despite moderate domestic demand reductions.
• Port efficiency and proactive importer inventory management prevented shortages, mitigating price increases from logistical disruptions.
• Muted discretionary spending and steady industrial offtake balanced demand, limiting upside, enabling mild price easing.
Europe
• In Europe, the Leatherette Price Index eased slightly by quarter-over-quarter in December 2025, reflecting moderate domestic demand and steady import flows.
• Leatherette Spot Price remained stable as buyers relied on contracted volumes and distributor inventories.
• Leatherette Price Forecast suggests limited near-term movement, with small seasonal restocking supporting minor price adjustments.
• Leatherette Production Cost Trend remained steady as polyurethane, pigment, and energy costs saw minimal change.
• Leatherette Demand Outlook stayed moderate, with footwear and furniture segments subdued, partially offset by automotive and industrial upholstery requirements.
• Balanced inventories at ports and regional warehouses helped maintain the Price Index, preventing abrupt volatility.
• Import allocations from Asia and intra-European trade flows ensured adequate supply, keeping spot liquidity sufficient.
Why did the price of Leatherette change in December 2025 in Europe?
• Consistent import volumes and adequate stock levels kept prices largely rangebound.
• Smooth logistics and warehouse management prevented supply-side tightness, capping potential increases.
• Subdued discretionary spending and measured industrial procurement limited demand-driven upward pressure.
For the Quarter Ending September 2025
North America
• In the USA, the Leatherette Price Index remain challenging quarter-over-quarter, reflecting balanced supply and steady downstream activity.
• Leatherette Spot Price trended stable-to-firm as suppliers maintained controlled allocations to preserve margins.
• Leatherette Price Forecast suggests mild fluctuations through late Q4 amid mixed economic signals and inventory alignment.
• Leatherette Production Cost Trend was steady with manageable PVC resin costs and improved additive supply across Gulf producers.
• Leatherette Demand Outlook remains steady, supported by consistent automotive upholstery and contract furniture orders.
• Leatherette Price Index steadied after earlier volatility as downstream converters maintained planned procurement volumes.
• Export demand to Latin America and Canada provided additional support to offset domestic margin constraints.
Why did the price of Leatherette change in September 2025 in North America?
• Stable downstream automotive and furniture orders sustained baseline demand, preventing price declines.
• Improved feedstock supply and stable production costs allowed for consistent producer offers.
• Export inquiries from neighboring markets added marginal firmness to spot prices, maintaining overall stability.
APAC
• In India, the Leatherette Price Index fell by 3.43% quarter-over-quarter, reflecting subdued orders, cautious procurement.
• The average Leatherette price for the quarter was approximately USD 2657.75/MT across CFR-Mumbai deliveries and hubs.
• Leatherette Spot Price strengthened mid-quarter due to currency depreciation increasing landed import costs for China-origin shipments.
• Leatherette Price Forecast reflects modest upside into autumn supported by festive season restocking and constrained import arrivals.
• Leatherette Production Cost Trend remained manageable as PVC resin and plasticizer supplies stayed adequate across Asia.
• Leatherette Demand Outlook is stable with automotive, furniture, and real estate sectors providing steady consumption support.
• Leatherette Price Index pressure eased as suppliers avoided aggressive discounts to prevent further inventory accumulation.
• Margins were cushioned by softer feedstock prices, keeping producer selling intentions conservative despite firmer downstream demand.
Why did the price of Leatherette change in September 2025 in APAC?
• Elevated inventories and cautious buyer procurement reduced spot volumes, applying downward pressure on import prices.
• Currency depreciation increased landed costs for imports, prompting suppliers to pass through higher import-related expenses.
• Monsoon and port congestion caused intermittent delays, tightening short-term availability and supporting upward pricing pressure.
Europe
• In Germany, the Leatherette Price Index remain under pressure quarter-over-quarter, reflecting gradual recovery in downstream consumption.
• Leatherette Spot Price firmed through September as seasonal demand from the furniture and automotive upholstery sectors improved.
• Leatherette Price Forecast indicates moderate stability through Q4 as restocking sustains offtake while feedstock costs remain steady.
• Leatherette Production Cost Trend showed minor increases as PVC resin prices strengthened and energy tariffs stayed elevated.
• Leatherette Demand Outlook remains positive with renewed activity in the construction and refurbishment segments across Western Europe.
• Leatherette Price Index gained momentum as suppliers restored margins after prior discount-led quarters.
• Logistics disruptions in Northern Europe and tight container availability supported localized price firmness across key hubs.
Why did the price of Leatherette change in September 2025 in Europe?
• Seasonal restocking in the furniture and interior sectors supported higher consumption, lifting regional Leatherette prices.
• Rising PVC and energy costs modestly increased production expenses, prompting upward pricing adjustments.
• Port delays and container shortages limited prompt deliveries, creating short-term tightness and regional price firmness.
For the Quarter Ending June 2025
North America (USA)
• The Spot Price for leatherette in North America showed a moderate rise in Q2 2025, driven by stable raw material availability and gradual pickup in demand.
• Supply remained steady, with production running at normal capacity and sufficient stock levels among distributors.
• The Production Cost Trend was influenced by resilient feedstock prices (PU/PVC base), although rising labor and logistics expenses slightly compressed margins.
• The Demand Outlook turned cautiously optimistic, as automotive upholstery and contract furnishing segments began to recover.
• Price Forecast suggests continued moderate upward momentum into Q3 2025 if order activity sustains in core sectors.
Why did the price of Leatherette change in July 2025 in the US?
• Leatherette prices rose as demand from the furniture and automotive interiors segments strengthened following a period of cautious procurement earlier this year.
• Inland freight and handling costs climbed steadily in July, contributing to upward cost pressure across the supply chain for local distributors.
• Import prices firmed due to a weaker U.S. dollar and higher global shipping costs, prompting domestic suppliers to realign their offers.
• Improved retail sentiment and increased orders from upholstery manufacturers led to active restocking, further supporting a firmer price trend.
Europe
• The Spot Price in Europe came under pressure, reflecting a weak Q2 2025 market characterized by sluggish construction and commercial furnishing activity.
• Supply conditions were stable with balanced output and inventory levels, though some import delays added to localized inefficiencies.
• The Production Cost Trend remained unchanged, with feedstock prices neutralized by soft demand and muted energy volatility.
• The Demand Outlook remained gloomy, especially in Southern Europe, as new furniture and automotive orders declined.
• Price Forecast points to continued pricing strain unless stimulus or seasonal restocking revives order books.
Why did the price of Leatherette change in July 2025 in Europe?
• Automotive and furniture producers in key EU markets like Germany and France resumed purchases, signaling a rebound in downstream order volumes.
• Rising costs for solvents, processing chemicals, and PVC feedstocks led European suppliers to increase Leatherette prices to protect margins.
• Freight surcharges and tightened import compliance raised the cost of imported Leatherette, narrowing the gap between domestic and offshore pricing.
• Distributors reported increased buyer engagement, with converters gradually rebuilding stock, contributing to stronger price justification across the region.
APAC
• The Spot Price for leatherette in APAC fell by 0.7% Q-o-Q in Q2 2025, reflecting oversupply and restrained downstream movement.
• Supply remained ample, with consistent production across China and steady inflows into Southeast Asia.
• The Production Cost Trend dipped slightly due to lower feedstock prices and continued exchange rate benefits for exporters.
• The Demand Outlook stayed soft, particularly in footwear and lower-tier automotive applications.
• Price Forecast suggests limited short-term recovery unless festivals and construction spending accelerate.
Why did the price of Leatherette change in July 2025 in APAC?
• Automotive and upholstery manufacturers in countries like China and India increased bulk purchases, anticipating stronger seasonal demand across the third quarter.
• Inventory levels across the region tightened, prompting converters to restock, giving suppliers greater room to firm up their offers.
• Logistics efficiency improved, but rising operational costs encouraged producers to adjust offers upward to maintain profitability amid healthy downstream activity.
• Positive economic performance in the APAC region is stimulating the Leatherette consumption across the various downstream sectors.
For the Quarter Ending March 2025
North America
• The Leatherette Price Index remained stable throughout Q1 2025 in North America, supported by consistent demand from the automotive and furniture sectors.
• The Leatherette Demand Outlook was buoyed in March by a recovery in vehicle sales, leading to steady consumption for interior upholstery.
• Furniture demand remained stable, though procurement remained cautious due to subdued consumer confidence.
• Supply-side conditions were well balanced; manufacturers maintained adequate inventories and just-in-time inventory strategies prevailed amid macroeconomic uncertainty.
• The Leatherette Production Cost Trend was stable, aided by improved logistics and uninterrupted distribution throughout the quarter.
• The construction sector showed minor recovery signs but contributed little to Leatherette Spot Price trends.
Why did the price of Leatherette change in April 2025 in the US?
Leatherette prices remained mostly unchanged in April due to stable demand and balanced inventories. No significant upward or downward pressures emerged to shift the Leatherette Price Index.
APAC
• The APAC Leatherette Price Index saw a marginal upward trend during Q1 2025, driven by rising sourcing costs and currency depreciation, especially in India. The price of Leatherette was settled at USD 3308/MT on an Ex-Mumbai by the end of quarter.
• In January, the Leatherette Spot Price was stable with cautious inventory control as producers operated below full capacity (e.g., Mayur Uniquoters).
• February registered a modest price increase due to increased import costs from China and a weaker Indian rupee, impacting the Leatherette Production Cost Trend.
• March saw strong demand from the automotive and real estate sectors, particularly in India’s southern metros, lifting the Leatherette Price Index further.
• The Leatherette Demand Outlook improved toward the quarter’s end, driven by year-end buying, new automobile launches, and construction momentum.
• Footwear sector demand remained steady, whereas automotive retail sales recovered in March after a February dip.
Why did the price of Leatherette change in April 2025 in Asia?
• Following robust demand in March—especially from the automotive and real estate sectors—many downstream buyers accumulated high inventory levels.
• As April began, buyers slowed procurement to deplete stockpiles, causing reduced market activity and contributing to the 0.8% dip in the Leatherette Spot Price.
Europe
• The European Leatherette Price Index remained largely unchanged during Q1 2025, reflecting a subdued demand environment and cautious consumer sentiment.
• Automotive demand stabilized slightly, but the furniture segment remained sluggish with minimal new product offtake.
• The Leatherette Spot Price was steady throughout the quarter, with logistical challenges (port delays and congestion) having minimal overall impact due to high inventories and rerouting strategies.
• Economic optimism emerged after the ECB’s rate cut, yet broader uncertainty kept demand soft, limiting upside in the Leatherette Demand Outlook.
• The Leatherette Production Cost Trend remained flat as input prices and logistics normalized.
Why did the price of Leatherette change in April 2025 in Europe?
Leatherette prices in Europe showed no significant change in April as macroeconomic improvements failed to translate into stronger downstream demand, maintaining a neutral trend in the Leatherette Price Index.
