could you try something like this? https://www.hometalk.com/43308732/how-to-paint-your-old-couch-paint-that-acts-like-faux-leather
There are products made to keep vinyl and leather supple. These products are available at the hardware or automotive stores. Vinyl and leather can have a tendency to dry out due to the heat and sometimes the dryness in our homes.
Can the couch be renewed if the vinyl is peeling? No.
Lana: you may have to go with something like this
Actually, it’s possible. 💁♀️
I’ve successfully repaired a peeling & split drivers seat in a BMW, with an automotive vinyl patch repair kit and the appropriate filling in of the broken down foam padding.