Is it worth recovering deteriorating fake leather?

Bought a new 3 + 2 + 1 seater lounge suite about 12 years ago, with no knowledge that despite very little use the fake leather covering would start delaminating in little pieces over the past couple of years. It's accelerating as time goes on.

I think I could recover it with a loose fabric. It seems a waste to junk an otherwise perfectly sound lounge suite because of what appears to be an essentially cosmetic issue, but the question is whether the delaminating of the outer surface will continue into other layers of this fake leather so that there's no point to recovering it.

Unfortunately I don't know what type of fake leather it is. Here's a photo, if that helps.

Attachment 530048

This is pretty typical of fake leather (vinyl) used in upholstery. Had the same happen with some dining chairs but after only about 5-6 years of use and an office chair after only two years. I wouldn't try to salvage the vinyl. I had our dining chairs reupholstered in fabric - no regrets as they still look new 6 years later.