FOOTWEAR SOLE MATERIAL MARKET ANALYSIS

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FOOTWEAR SOLE MATERIAL MARKET ANALYSIS

• Footwear Sole Material Market, By Distribution
  Channel (Shoe Stores, Retail Stores, Super
  Markets, Online), By Gender Type (Men, Women,
  Kids), By Product Type (Athletic (Running shoes,
  Soccer shoes, Basketball shoes, Tennis shoes),
  Non-Athletic (Casual Footwear, Fashion Footwear,
  Military boots)), By Material Type (Plastics
  (EVA, PU, PVC, Others), Rubber (Natural,
  Synthetic), Leather, Other Materials), By
  Component (In Sole, Mid Sole, Out Sole, Unit
  Sole), and By Region (North America, Asia
  Pacific, Europe, Latin America, Middle East and
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2020 2027

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Footwear sole material used to manufacture the
bottom part of the shoes and is produced from
various materials rubber, plastic, and
petrochemical-derived products. Footwear sole
materials provide comfort and fashion and allow
to perform various outdoor activities.
Polyurethane is the most common material used in
the manufacturing of sole because it offers
excellent flexibility and durability. Moreover,
the footwear sole also provides a high level of
stiffness and resilience.The global footwear
sole material market is projected to reach
around US 26594.4 million by the end of 2027, in
terms of revenue, growing at CAGR of 4.1 during
the forecast period (2020-2027).

• Drivers
• Increase in the disposable income of the
  middle-class family is projected to drive the
  market growth of footwear sole materials over the
  forecast period. Increasing industrialization and
  urbanization across the developing region have
  led to the rise of disposable income, which in
  turn, is projected to fuel the demand for
  footwear over the forecast period.
• Increasing participation of consumers in sports
  and fitness-related activities due to increasing
  health-conscious people is projected to augment
  the market growth of the footwear sole material.
  Shifting preferences of consumers towards outdoor
  activities such as hiking, running, and cycling
  is also contributing to the growth of the
  footwear sole material.

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Figure 1. Global Footwear Sole Material Market,
Revenue Share (), By Region, in 2019
Asia Pacific region dominated the global footwear
sole material market in 2019, accounting
for 76.7 share in terms of value, followed by
Europe and Latin America, respectively.
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Market Restraints

• Slow adoption rate of the advanced technologies
  for the production of the footwear sole is
  expected to restrict the market growth over the
  forecast period. High cost and technical issues
  are some of the major factors inhibiting the
  adoption of advanced technology thus hampering
  the market growth.

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Market Opportunities

• The market of footwear is penetrating into women
  segments owing to the rising number of women
  participating in outdoor activities. This is
  expected to open new doors of opportunity to the
  market of the footwear sole. Moreover, an
  increasing number of working women is also
  expected to augment the market growth.
• Growing demand for therapeutic footwear around
  the globe for the patient suffering from chronic
  diseases such as arthritis, diabetes, and knee
  problems is estimated to accelerate market
  growth. Growth in the medical footwear industry
  is expected to positively impact market growth
  over the forecast period. 

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Figure 2. Global Footwear Sole
Material Market Opportunity Analysis 
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Market Trends

• Growing demand for trendy and comfortable shoes
  especially among the young population is expected
  to be a major trend in the market. Shifting
  preferences for buying footwear as per the
  occasion is another major trend in the market.
  Athletic, Casuals, fashionable, formals, and
  traditional are the some of the footwear gaining
  huge demand.

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Figure3. Global Footwear Sole Material Market,
Revenue Share (), By Material Type, in 2019
On the basis of material type in 2019, the
leather segment has accounted the largest market
share of 57.6 in terms of value, followed by
plastics and rubber respectively.
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Competitive Section Company Names  Nike
Inc. Adidas AG Bata Limited Puma SE Columbia
Sportswear Company The Dow Chemical
Company Huntsman Corporation BASF SE
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• Few Recent Developments 
• Puma SE
• In February 2020, German sportswear manufacturer
  Puma has created a new collection of footwear and
  clothing, made from recycled plastic. Puma teamed
  up with First Mile to create a sustainable
  sportswear collection
• In February 2019, Sports brand Puma has unveiled
  its Puma Fi trainers, which have laces that can
  be tightened at the swipe of a finger.

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