Asia-Pacific Footwear Sole Material Market, By Product (Non-Athletic, Athletic), By Soling Material (Rubber, Polyurethane, EVA, PVC, Leather, Bio-Materials, PEBA), Sole Component (OutSole, Midsole, Innersole), Sole Type (New Soles, Repair Soles), Distribution Channel (Direct Sale/B2B, Specialty Stores, E-Commerce, Others), End User (Women, Men, Kids), Country (China, India, Vietnam, Indonesia, Japan, Philippines, Australia & New Zealand, South Korea, Malaysia, Singapore, Thailand, Rest Of Asia-Pacific) Industry Trends and Forecast to 2029
Market Analysis and Insights: Asia-Pacific Footwear Sole Material Market
The footwear sole material market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2022 to 2029 and is expected to reach USD 27,202.25 million by 2029. Rise in demand for fashionable, comfortable, and suitable footwear will drive the market.
Shoe soles are made from a variety of materials, including natural rubber, leather, polyurethane, and PVC compounds. The shoe sole materials consist of natural and synthetic materials, including leather and polymers, among others, having application in the manufacture of footwear soles. Numerous materials are employed for the manufacture of footwear soles depending on the type of footwear, its application, and the environment in which it is utilized. Some of the significant materials include rubber, daintier and thermoplastic polyurethane. These materials are flexible, strong, and offer ultimate comfort to the wearer's feet.
Footwear sole materials offer flexibility and extensive protection for the wearer. The footwear sole material market is gaining significant growth due to rising knee and ankle problems among the aging population, rise in demand for fashionable, comfortable, and convenient footwear. The increase in footwear production globally and rising demand for sports footwear is also boosting the growth of the global footwear sole material market. However, emission of harmful gases from raw materials such as rubber in sole manufacturing, time consumption for the proper sole bonding process, and use of low-quality raw materials by local manufacturers are expected to restrain the market growth of footwear sole materials during the forecast period.
The footwear sole material market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Footwear sole material market scenario, contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Footwear Sole Material Market Scope and Market Size
Asia-Pacific footwear sole material market is segmented into six notable segments based on product, soling material, sole component, sole type, distribution channel, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Asia-Pacific footwear sole material market is segmented into non-athletic and athletic. In 2022, the non-athletic segment is expected to dominate the footwear sole material market as the demand for flip-flops is increasing for both men and women.
- On the basis of soling material, the Asia-Pacific footwear sole material market is segmented into polyurethane, rubber, EVA, PVC, PEBA, leather, and bio-materials. In 2022, rubber segment is expected to dominate the market as rubber provides protection against exposure to high temperatures.
- On the basis of sole components, the Asia-Pacific footwear sole material market is segmented into the outsole, innersole, and midsole. In 2022, the outsole component segment is expected to dominate the footwear sole material market due to its tough and durable nature.
- On the basis of sole type, the Asia-Pacific footwear sole material market is segmented into new soles and repair soles. In 2022, the new sole segment is expected to dominate the footwear sole material market as the new sole appears to be better in every form than the repair sole.
- On the basis of distribution channels, the Asia-Pacific footwear sole material market is segmented into direct sale/B2B, E-commerce, specialty stores, and others. In 2022, the direct sale/B2B segment is expected to dominate the footwear sole material market as it allows the manufacturers to order in bulk quantity and is cost-effective.
- On the basis of end-user, the Asia-Pacific footwear sole material market is segmented into men, women, and kids. In 2022, the women segment is expected to dominate the footwear sole material market as the demand for new fashionable footwear is more among women.
Non-Athletic in China is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 because of growing consumption and production of footwear. Non-Athletic segment in India is growing at a significant rate due to rising knee and ankle problems among aging population. Vietnam is fastest growing country of the Asia-Pacific market and non-athletic segment is dominating in this country owing to rise in demand for fashionable, comfortable, and convenient footwear.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Footwear Sole Material, is Boosting the Market Growth of Footwear Sole Material Market.
The Footwear sole material market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2019.
Competitive Landscape and Footwear Sole Material Market Share Analysis
Footwear sole material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Footwear sole material market.
The major companies which are dealing in the Footwear sole material are Vibram S.p.A, Continental AG, Unisol India, BASF SE, Covestro AG, Arkema, Evonik Industries AG, Huntsman International LLC, Asahi Kasei Corporation, Solvay, Dow, INOAC CORPORATION, Allbirds, Inc., Soles By MICHELIN, among others domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the Footwear sole material market.
For instance,
- In September 2021, BASF collaborated with Hotter to provide Hotter's casual shoes with Infinergy, Expanded Thermoplastic Polyurethane (E-TPU). The combination of Hotter's cushion+technology along with BASF SE Infinergy provides exceptional cushioning to the classic shoes. This collaboration helped the company to expand its services to casual and formal wear
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the Footwear sole material market which also provides the benefit for organization’s profit growth.
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