According to a new market report published by Lucintel, the future of the global footwear sole material market looks promising with opportunities in athletic and non-athletic shoes. The global footwear sole material market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $21.1 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. The major growth driver in this market is rise in footwear production and growth in consumer spending.
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In this market, rubber, PVC, TPR, PU, EVA, vulcanized rubber, leather, and others are used for footwear sole material manufacturing for material. On the basis of comprehensive research, PVC is expected to be the largest material by value and volume and also witness the highest growth during the forecast period because it provides the best synthetic alternative to traditional leather with more cost effective options for sole manufacturing.
Within this market, non-athletic will remain the largest end use industry by value and volume due to increase in consumer purchasing power, and growing demand for casual and fashionable footwear.
Asia Pacific is expected to remain the largest region by value and volume and also witness the highest growth over the forecast period due to rising population, growing disposable income, and increasing sports activities.
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Emerging trends, which have a direct impact on the dynamics of the footwear sole material industry, include the development of fusion of plastic with other sole materials, and shifting of footwear manufacturers from China to South East Asia. DowDupont, Huntsman, BASF, Solvay, Braskem, Ningbo Cerrion, International Trading Co. LTD, and Metropole are among the major suppliers of footwear sole material.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global footwear sole material market by material, sole component, product, end user and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Footwear Sole Material Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global footwear sole material market by material, sole component, product, end user and region as follows:
By Material (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
RubberPolyvinyl chloride (PVC) Thermoplastic rubber (TPR)Polyurethane (PU) Ethyl vinyl acetate (EVA)Vulcanized rubberLeatherOthers
By Sole Component (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
By Product (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
By End User (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
By Region [Value ($ Million) from 2014 to 2025]:
This 238-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/footwear-sole-material-market.aspx#/ or [email protected]
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