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PU Sole Footwear Polyurethane Market Share 2022 Trends, Growth Statistics, Company Overview, Regional Forecast Analysis 2029
PU Sole Footwear Polyurethane Market Overview:PU Sole Footwear Polyurethane Market report provides a comprehensive overview of global business tactics, development plans of top manufacturers, current industry status, and future scope. PU Sole Footwear Polyurethane Market research report shows the latest market insights with upcoming trends and challenges, provides regional development with the breakdown of products and services.
The PU sole (footwear polyurethane) market size was estimated at USD 4.40 Billion in 2020 and is projected to reach USD 8.37 Billion by 2029, at a CAGR of 7.4%.
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Polyurethanes are thermosetting polymers that cannot be melted when exposed to heat. Polyurethanes are created through the reaction of isocyanate and polyols. Polyurethane is widely used in footwear and can be manufactured at a lower cost. Polyurethane gives the footwear durability, comfort, and lightness. Polyurethane soles are abrasion-resistant. Polyurethane soles can be attached to the body of the footwear, making different designs easier. The process of applying polyurethane soles varies depending on the footwear design, such as work and safety, slippers, sandals, and others.
PU Sole Footwear Polyurethane Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Covestro, SWM International, 3M Company, Avery Dennison, DingZing Advanced Materials, Coveris Advanced Coatings, Mh&W International, American PolyFilm Inc., Huntsman International LLC, PAR Group, Permali Gloucester Ltd., Lubrizol Corporation and Others
Recent Development
In October 2019, the Wanhua Chemical Group launched new 3D-printed shoe material solution that will integrate high-quality and highly-flexible materials, which include WANFAB TPU (filament and powder) and Adwel waterborne adhesive
In January 2018, BASF established a new MDI synthesis unit in Geismar, Louisiana. MDI is a basic raw material which is used for the production of polyurethanes. The annual capacity of MDI production will increase from 300,000 metric tons to 600,000 metric tons. This expansion enabled the company to enhance its presence in North America.
In June 2018, Covestro increased its TPU (Thermoplastic Polyurethane) production capacity at its West Virginia (US) plant. This expansion will increase Covestro's annual production capacity of TPU by 25.0%, which in turn, will help the company to expand its footprint, globally.
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PU Sole Footwear Polyurethane Market Segmentation:
Global PU Sole Footwear Polyurethane Market By Raw Material, 2020-2029, (USD Million) (Thousand Units)
Methylene Diphenyl Diisocyanate
Toluene Diphenyl Diisocyanate
Polyols
Global PU Sole Footwear Polyurethane Market By Application, 2020-2029, (USD Million) (Thousand Units)
Casuals
Boots
Slippers & Sandals
Sports And Formals
Market Dynamics
PU sole (footwear polyurethane) market will grow significantly in the forecasted period due to the driving factors such as increasing demand for lightweight, comfortable, and designer footwear in the market. Tough competitive environment among footwear brand will further entice the demand of PU sole market. Predominantly, concerns related to the health issue due to the use of polyurethane in footwear could hamper the PU sole (footwear polyurethane) market. However, rapidly changing fashion trends will create an opportunity for the PU sole (footwear polyurethane) market.
Growth Factors:
Increasing demand from the PU Sole Footwear Polyurethane industries
The growing use of PU Sole Footwear Polyurethane in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in PU Sole Footwear Polyurethane Market
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PU Sole Footwear Polyurethane Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key PU Sole Footwear Polyurethane Market Trends
- The report identifies, determines, and forecasts the Global PU Sole Footwear Polyurethane Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the PU Sole Footwear Polyurethane Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the PU Sole Footwear Polyurethane Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global PU Sole Footwear Polyurethane Market.
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