Press release
Footwear Sole Material Market Size To Grow At A CAGR Of 4.60% In The Forecast Period Of 2024-2032
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Footwear sole material encompasses the materials used in the construction of the lower part of shoes. The outer sole directly interacts with the ground, while the insole makes contact with the wearer's foot, and the midsole serves as a cushioning layer in between. These sole materials play a crucial role in all types of footwear, offering protection, cushioning, and stability during movement.
The growing demand for footwear, fuelled by rising per capita income, the rapid expansion of shoe stores, urbanisation, and evolving lifestyles and fashion preferences, is driving the footwear sole material market growth. With more individuals worldwide investing in footwear for fashion purposes and purchasing multiple shoes of various styles, designs, and types, the demand for high-quality footwear soles is on the rise.
A growing emphasis on health and fitness globally has resulted in increased participation in sports and fitness activities. This trend has driven the demand for high-performance sports footwear, which requires technologically advanced and durable sole materials to support rigorous activities. Manufacturers are prioritising lightweight, flexible, and cushioned soles to enhance athlete comfort and performance, consequently driving up the footwear sole material market share.
Modern consumers increasingly seek footwear that combines style with comfort. As lifestyle shifts toward casual and athleisure wear, brands are innovating to create soles that offer superior grip, flexibility, and support while maintaining fashionable designs. This shift has expanded the use of innovative materials like thermoplastic polyurethane (TPU), ethylene-vinyl acetate (EVA), and polyurethane (PU).
The market is seeing a surge in demand for sustainable sole materials due to increasing consumer awareness of environmental impact. Manufacturers are adopting eco-friendly materials, such as biodegradable rubbers and recycled plastics, to minimise their ecological footprint. Companies are also investing in research and development (R&D) to explore alternative materials that are not only sustainable but also economically viable, leading to footwear sole material market development.
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Innovations in sole manufacturing technologies have enabled producers to create high-quality soles with specialized characteristics like improved shock absorption, anti-slip, and temperature regulation. Techniques such as 3D printing, injection moulding, and computer-aided design have reduced production costs while enhancing design flexibility.
Safety regulations in workplaces have increased demand for occupational footwear with robust sole materials. These include oil-resistant, slip-resistant, and puncture-resistant soles for industrial and construction workers. As safety standards become more stringent globally, the occupational footwear segment is expected to drive significant growth in the sole material market.
As per the footwear sole material market analysis, the rubber sector dominates the market due to its slip resistance, improved grip, elasticity, and performance on challenging terrains. Rubber soles are also water, oil, mud, and liquid resistant, making them ideal for long-lasting use. On the other hand, the plastics sector is projected to experience growth due to its lightweight nature and durability.
In terms of end-consumers, men hold a significant share in the market, driven by the demand for high-quality running shoes, formal footwear, and sneakers. Women, on the other hand, prefer simpler soles like sandals for fashion, while men opt for thicker soles for sports and other activities. However, the market for women's footwear is expected to grow steadily in the future, fuelled by the rising number of working women and female participation in sports.
Market Segmentation
The market can be divided based on the material, sole component, end-consumer, and region
Market Breakup by Material
• Leather
• Plastics
• Rubber
• Others
Market Breakup by Sole Component
• In Sole
• Mid Sole
• Out Sole
Market Breakup by End-Consumer
• Men
• Women
• Kids
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in footwear sole material reduction market. Some of the major players explored in the report by Expert Market Research are as follows:
• Covestro AG
• Huntsman International LLC
• BASF SE
• Braskem
• Solvay
• INOAC Corporation
• Asahi Kasei Group
• Others
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