Analysis of Potential Impact of COVID-19 on Footwear Adhesives Market

Global Footwear Adhesives Market: Synopsis

While manufacturing footwear, specific footwear adhesives need to be used in order to stick and bond different footwear components together in a cohesive manner. A considerable rise in high fashioned footwear has caused a substantial increase in the demand for footwear adhesives, thus positively affecting its market. The report published by Transparency Market Research extensively covers various details of this market, along with factors such as prominent drivers and trends, regional market growth, leading market segments, competitive outlook, and several others aspects.

Based on the report, the footwear adhesives market could be segmented on the basis of product type and region. By considering the product type, the market is divided into four segments viz. hot melt adhesives, water borne adhesives, natural rubber adhesives, and solvent-based adhesives. Amongst these segments, the demand for hot melt adhesives is significantly higher in the market as they provide a lot of strength as well as sturdiness to the finished product.

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Global Footwear Adhesives Market: Prominent Drivers and Restraints

Recent developments possible due to a lot of experimentation carried out by market players is one of the most significant drivers of the global footwear adhesives market. One of these developments involves the use of water-based footwear adhesives while manufacturing the products. The increasing demand for international brands amongst the masses is also a noteworthy factor that is positively affecting the global footwear adhesives market. This is mainly due to the good quality and standard adhesives used in popular and internationally acclaimed brands, which make the products last longer and provide high strength. A rise in sports activities has also triggered a positively inclining graph of the global footwear adhesives market. All these factors are described in the recently added report by TMR.

The report also describes some of the major restraints associated with the global adhesives market. One of the most significant obstacles to the market’s growth is the high cost of raw materials that are needed while operating the manufacturing processes of adhesives. The second hindrance deals with diseases like the shoemaker’s paralysis that may occur if a person gets exposed to harmful gases that may be released from footwear adhesives manufacturing. Such obstacles may significantly hamper global footwear adhesives market growth. However, many efforts are being taken to reduce the costs by introducing other substitute chemicals in the manufacturing processes, which may also reduce the chance of causing health risks.

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Global Footwear Adhesives Market: Regional Outlook

Based on a regional perspective, the global footwear adhesives market is spread across Latin America, the Middle East and Africa, Europe, North America, and Asia-Pacific. Of all these geographical extents, the Asia-Pacific region held a major share in the market. The main reason for this involves several factors such as improvement in standard of living, rise of disposable income and an overall increase in awareness of buying good quality footwear. Emerging countries such as China, Japan, and India are anticipated to experience a strong market growth. Compared to the Asia-Pacific region, the countries based in North America and Europe are expected to show a moderate footwear adhesives market growth. Other countries such as Mexico and Brazil are anticipated to exhibit a significant market share in the future.

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Global Footwear Adhesives Market: Competitive Landscape

With respect to product innovation, availability of new materials, and an increase in the number of investments put by businesses, the global footwear adhesives market is expected to experience a rapid surge in the next few years. Many of the competitors in this market have been well-established since many years, which is a big bonus for industry mainly due to the experience they bring in for further development. Some of the key players in the global footwear adhesives market are: Eastman Chemical Company, H.B. Fuller, Jubilant Industries Ltd., Bostik Ltd. KECK Chimie, and Great Eastern Resins Industrial Co. Ltd., amongst many others.

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