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Sports And Fashion Industry To Account For Bulk Of Footwear Sole Material Demand From 2021-2031
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Key Takeaways from Market Study
• The three core markets for footwear sole material are China, India, and Europe. Markets in ASEAN countries are expected to grow moderately as well.
• China is expected to hold highest share in the global footwear solematerial market, due to the presence of a strong local base and extensive production facilities and availability of raw materials.
• Growing awareness about health and fitness and increasing athletic activities are resulting in rising demand for footwear solesacross geographies. Furthermore, growing popularity of global sporting events is having a positive influence market growth.
• Footwear sole material sales are growing relatively slow since the onset of the COVID-19 pandemic.
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Competitive Landscape
The global footwear sole material market is moderately consolidated in nature, with key players accounting for a significant market share. Some of the key players in the market are Nike Inc., Adidas AG, Bata Limited, Puma SE, Columbia Sportswear Company, and The Dow Chemical Company, among others. These players are likely to invest in new technologies, especially customized variants, to maintain their high market share.
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