Microfiber synthetic leather is a kind of composites with PU as matrix and microfiber nonwovens as reinforcement. Driven by market demands, development of premium products is urgent for microfiber synthetic leather industry. Based on both market and technology,this article discussed the status-quo and development trend of microfiber synthetic leather industry, anticipating that the domestic enterprises can absorb advanced technologies and notion, and furthermore, make a re-innovation in accordance with the practical situations.