Quality leather can last decades if it is well cared for. It will age beautifully and develop a patina over time. Leather is made from animal skin so it must be moisturized and maintained. If leather starts to dry out it will crack or peel. Leather can be kept moisturised by using a leather conditioner and cleaner. It is also important to pay attention to the humidity levels around leather as it can lose its moisture and become fragile.
Most often, cracking is not caused by the leather itself, but the sealant or finish on the surface. The wrong products can cause leather to crack, especially if they contain solvents or chemicals. Even baby wipes can cause leather damage. The chemicals in them will break down the leather's topcoat and rub it off.
Poor quality leather, particularly bonded leather, is more likely to crack or peel. If treated properly, high quality leather should not ever crack or peel.
Bonded leather can be a cheaper alternative to top-grain leather. Its price is indicative of its durability and value. It is most commonly used for upholstery. It is made of scraps from recycled leather, and then attached to a polyurethane overlay. The synthetic PU overlay is not as elastic or flexible as real leather and can be removed from the leather strips once it reaches its stretching point.
Fake leather (which bonded leather can be argued to be) is one of the most easy types of "leather materials" to peel. It is not the genuine deal, and is made of synthetics such as PU and PVC. This means that it can crack and easily peel after a few months.
It is essential to maintain your leather to ensure it remains soft and moist by using the right products. High-quality leather is resistant to cracking and peeling and will look better over time. Lower quality leathers and other materials won't last as long and are less durable.