The importance of footwear sole material is closely tied to health and orthopedic considerations. The choice of sole material plays a pivotal role in foot health, as supportive and well-cushioned soles are instrumental in minimizing foot stress. A carefully selected sole material contributes to orthopedic well-being by providing adequate support and cushioning, thereby reducing the risk of injuries and discomfort associated with prolonged wear. Whether in athletic or everyday footwear, the right sole material can enhance foot health, promoting a comfortable and supportive environment for the feet.
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Data Bridge Market Research analyses the South America Footwear Sole Material Market, which was USD 10,20,156.11 thousand in 2022 and is expected to reach USD 14,28,700.19 thousand by 2030, growing at a CAGR of 4.3% during the forecast period of 2023 to 2030. South America's rising sports and fitness culture is a significant driver for the footwear sole material market. Increased participation in sports activities fuels demand for specialized athletic footwear, propelling the need for advanced sole materials that offer superior comfort, support, and performance, thereby influencing market growth.
Key Findings of the Study
Increasing demand fueled by consumers' growing emphasis is expected to drive the market's growth rate
A prominent driver in the South America footwear sole material market is the escalating demand fueled by consumers' growing emphasis on comfort and performance in their footwear selections. Modern consumers prioritize superior cushioning, shock absorption, and durability in their shoes. This trend drives an increased demand for advanced sole materials to meet these expectations. Manufacturers are responding by developing and incorporating innovative materials and technologies into footwear soles, aiming to provide a comfortable, high-performance experience.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Sole Material (Plastic Footwear Soles, Rubber Footwear Soles, Leather Footwear Soles, Bio-Compounds, Logged Wood, Other Materials), Sole Component (Outsole, Innersole, Mid Sole, Unit Sole), Product (Athletic Footwear Sole Material, Non-athletic Footwear Sole Material, Others), Distribution Channel (Online, Offline, Others), End User (Men, Women, Kids), Sole Type (New Soles, Repair Soles), Industry (Agriculture Industry, Chemical Industry, Construction Industry, Metal Industry, Food Industries, Transportation Industries, Security Industry, Mining Industry, Pharmaceutical Industry, Electronic Industry and Others)
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Countries Covered
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Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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The Lubrizol Corporation (U.S.), Wanhua. (China), Huntsman International LLC. (U.S.), Coim Group (Italy), Solvay (Belgium), BASF SE (U.S.), Dow (U.S.), Covestro AG (Germany), ASAHI KASEI CORPORATION (Japan), Era Polymers Pty Ltd (Australia), Braskem (America), INOAC CORPORATION (Japan), INGOM S.P.A (Italy), Vibram Commerce LLC (Italy), Allbirds, Inc. (U.S.), Soles by MICHELIN (China), Arkema (France), Evonik Industries AG (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The South America footwear sole material market is segmented on the basis of sole material, sole component, product, distribution channel, end user, sole type and industry.
- On the basis of sole material, the South America footwear sole material market is segmented into plastic footwear soles, rubber footwear soles, leather footwear soles, bio-compounds, logged wood, and other materials
- On the basis of sole component, the South America footwear sole material market is segmented into outsole, innersole, mid sole, and unit sole
- On the basis of product, the South America footwear sole material market is segmented into athletic footwear sole material, non-athletic footwear sole material, and others
- On the basis of distribution channel, the South America footwear sole material market is segmented into online, offline, and others
- On the basis of end user, the South America footwear sole material market is segmented into men, women, and kids
- On the basis of sole type, the South America footwear sole material market is segmented into new soles, and repair soles
- On the basis of industry, the South America footwear sole material market is segmented into agriculture industry, chemical industry, construction industry, metal industry, food industries, transportation industries, security industry, mining industry, pharmaceutical industry, electronic industry, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major South America footwear sole material market players in South America footwear sole material market are The Lubrizol Corporation (U.S.), Wanhua. (China), Huntsman International LLC. (U.S.), Coim Group (Italy), Solvay (Belgium), BASF SE (U.S.), Dow (U.S.), Covestro AG (Germany), ASAHI KASEI CORPORATION (Japan)
Market Developments
- In 2021, The Universities of Aveiro, Porto, and Minho collaborated in the Safety Materials for Shoe project (SM4S), led by a team of Portuguese academics. The primary objective of this collaboration was to develop a shoe sole with virus-proof properties, specifically targeting the combat against the coronavirus and other viruses. The project aimed to incorporate advanced materials and technology to enhance the safety features of footwear, potentially contributing to public health in the ongoing global pandemic
- In 2021, BASF, a prominent chemical company, collaborated with Hotter to enhance the comfort and performance of Hotter's casual shoes. The collaboration involved the incorporation of Infinergy, a type of Expanded Thermoplastic Polyurethane (E-TPU) developed by BASF SE, into Hotter's shoe designs. The synergy of Hotter's cushioning technology and BASF's Infinergy aimed to deliver exceptional comfort to classic shoes. This partnership was expected to attract a broader audience seeking more comfortable and technologically advanced footwear options
- In 2020, Puma made headlines with the launch of its Puma Fi trainers, announcing an innovative lacing system. The trainers featured a technology that allowed users to tighten the shoe laces with a simple finger swipe. This development represented a leap forward in footwear technology, offering a convenient and futuristic solution to traditional shoelace tying. The Puma Fi trainers catered to consumers looking for both style and functionality in their athletic footwear
- In 2020, Puma took a significant step towards sustainability by launching a new line of footwear made from recycled plastic. In collaboration with First Mile, a recycling company, Puma aimed to address environmental concerns by utilizing recycled plastic materials to manufacture its shoes. This eco-friendly initiative was designed to resonate with a growing consumer demand for sustainable and environmentally conscious products. The collaboration with First Mile signaled Puma's commitment to reducing its environmental impact and contributing to a more sustainable future
Regional Analysis
Geographically, the countries covered in the South America footwear sole material market report are Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Brazil is the dominant country in South America footwear sole material market during the forecast period 2023-2030
Brazil dominates in the global footwear sole material market can be attributed to its substantial increase in both production and consumption of these materials. The country's footwear industry has experienced significant growth, meeting rising demand domestically and internationally. The preference for soft soles in everyday footwear, reflecting a consumer emphasis on comfort, has driven the market's expansion. Brazil's manufacturing prowess, characterized by an efficient and cost-effective production infrastructure, further cements its dominance.
Argentina is estimated to be the fastest-growing country in South America footwear sole material market for the forecast period 2023-2030
Argentina is expected to experience significant growth during the forecast period of 2023-20230 in the footwear sole material market, driven by rising demand for lightweight soles, particularly in sportswear, focusing on polyurethane materials. This trend reflects a shift in consumer preferences towards comfortable and performance-oriented footwear. The surge in sports activities within the country further propels market growth, indicating an increasing fitness and sports culture. The combination of a preference for lightweight polyurethane soles and a thriving sports scene positions Argentina as a key player in shaping the trajectory of the footwear sole material market, with the potential for sustained expansion as sports continue to gain prominence.
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