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Global Footwear Sole Material Market Share, Size, Trends, Growth, Analysis, Forecast: By Material: Leather, Plastics, Rubber, Others; By Sole Component: In Sole, Mid Sole, Out Sole; By End-Consumer: Men, Women, Kids; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Global Footwear Sole Material Market Outlook

The global footwear sole material market size attained a value of USD 19.4 billion in 2022. The market is further expected to grow at a CAGR of 4.60% between 2023 and 2028, to reach a value of USD 25.3 billion by 2028. 

 

Key Trends in the Market

Footwear sole material refers to the materials with which the bottom portion of footwear are made. The outer sole comes into direct contact with the ground while the in sole touches the bottom of the wearers foot, and the mid sole acts as a cushioning layer in between. Footwear sole materials are integral for any type of shoe or sandal, as they protect the feet, provide cushioning, and stabilise movement when wearing the footwear. 

 

  • The increasing demand for footwear, driven by inflating per capita income, rapid development of shoe stores, rapid urbanisation, and changing lifestyles and dressing habits, are bolstering the footwear sole material market. More people worldwide are investing in footwear for fashion purposes, buying multiple shoes of different styles, designs, and types, increasing the demand for quality footwear soles.
  • High-quality footwear sole material can prevent foot problems, alleviate joint pain, and improve running or sporting ability. In this regard, the increasing awareness pertaining to the quality and standard of shoe soles, is propelling the footwear sole material market.
  • The thriving e-commerce sector, coupled with growing research and innovative activities aimed towards improving shoe quality and standards, is likely to be a crucial trend in the market.
  • Increasing brand awareness and retention, fuelled by the expansion of social media is further boosting the demand for footwear with superior quality sole material. Over the forecast period, the anticipated increase in investments by the major footwear manufacturers towards advertising, are expected to streamline the trajectory of the footwear sole material market growth.

 

Market Analysis

Based on material, the market is segmented into leather, plastics, and rubber, among others. The plastics segment is further divided based on plastic type into EVA, PU, and PVC, among others, while the rubber segment is segmented based on rubber type into natural and synthetic. On the basis of sole component, the market is classified into in sole, mid sole, and out sole. By end-consumer, the market is categorised into men, women, and kids. The regional markets for footwear sole materials are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global footwear sole material market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Covestro AG
  • Huntsman International LLC
  • BASF SE
  • Braskem
  • Solvay
  • INOAC Corporation
  • Asahi Kasei Group
  • Others

 

Market Share by Material

The rubber segment, based on material, holds a healthy share of the footwear sole material market. This can be attributed to the resistance to slipping, enhanced grip, great elasticity, and excellent performance on harsh and treacherous terrains that are supported by rubber footwear sole materials. In addition, rubber soles are resistant to water, oil, mud, and various types of liquids which makes them suited for long-term wear. Meanwhile, the plastics segment is expected to attain a healthy growth in the forecast period, owing to the lightweight and resistance to wear and tear offered by the product. 

 

Market Share by End-Consumer

Based on end-consumer, the men segment accounts for a significant share in the footwear sole material market. The growth of this segment is being driven by the growing popularity of high-end running shoes, formal footwear, and sneakers, among men. While women are major consumers of footwear, they tend to purchase footwear with simpler soles such as sandals for fashion purposes whereas men purchase footwear thicker soles for sports and activities. In the coming years, women end-consumers are expected to witness a steady growth in the market, owing to the increasing number of working women across the emerging economies and increased women participating in sports. 

 

Competitive Landscape

Covestro AG is one of the leading producers of polyurethane foams and high-performance plastic polycarbonate. It also manufactures products such as coatings, adhesives, sealants, and films, among others. Covestro AG provides expertise in advanced material solutions with high-end technologies. The company was founded in the year 2015 and is currently headquartered in Leverkusen, Germany. 

 

Huntsman International LLC is a renowned chemical manufacturing company which produces and markets various commodity chemicals such as polyurethanes, propylene oxide, surfactant, and epoxy adhesive, among others. The company caters to the demands of various end use sectors including automotive and transportation, building and construction, and electronics. 

 

BASF SE is one of the world’s largest chemical companies which also provides innovative solutions for the footwear sector. The company offers high-performance casual and sport footwear materials. It also produces and markets plastic products which cater to the demands of various end use sectors. BASF SE was established in the year 1865 and is headquartered in Manheim, Germany. 

 

Other market players include Braskem, Solvay, INOAC Corporation, and Asahi Kasei Group, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Material
  • Sole Component
  • End-Consumer
  • Region
Breakup by Material
  • Leather
  • Plastics
  • Rubber
  • Others
Breakup by Sole Component
  • In Sole
  • Mid Sole
  • Out Sole
Breakup by End-Consumer
  • Men
  • Women
  • Kids
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Covestro AG
  • Huntsman International LLC
  • BASF SE
  • Braskem
  • Solvay
  • INOAC Corporation
  • Asahi Kasei Group
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Footwear Sole Material Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Footwear Sole Material Historical Market (2018-2022) 
    8.3    Global Footwear Sole Material Market Forecast (2023-2028)
    8.4    Global Footwear Sole Material Market by Material
        8.4.1    Leather
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022) 
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Plastics
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022) 
            8.4.2.3    Forecast Trend (2023-2028)
            8.4.2.4    Breakup by Plastic Type
                8.4.2.4.1    EVA
                8.4.2.4.2    PU
                8.4.2.4.3    PVC
                8.4.2.4.4    Others
        8.4.3    Rubber
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022) 
            8.4.3.3    Forecast Trend (2023-2028)
            8.4.3.4    Breakup by Rubber Type
                8.4.3.4.1    Natural
                8.4.3.4.2    Synthetic
        8.4.4    Others
    8.5    Global Footwear Sole Material Market by Sole Component
        8.5.1    In Sole
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022) 
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Mid Sole
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022) 
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Out Sole
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022) 
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Footwear Sole Material Market by End-Consumer
        8.6.1    Men
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Women
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Kids
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Footwear Sole Material Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America Footwear Sole Material Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Footwear Sole Material Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Footwear Sole Material Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Footwear Sole Material Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Footwear Sole Material Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Covestro AG
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Huntsman International LLC
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    BASF SE
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Braskem
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Solvay
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    INOAC Corporation
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Asahi Kasei Group
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Footwear Sole Material Market: Key Industry Highlights, 2018 and 2028
2.    Global Footwear Sole Material Historical Market: Breakup by Material (USD Million), 2018-2022
3.    Global Footwear Sole Material Market Forecast: Breakup by Material (USD Million), 2023-2028
4.    Global Footwear Sole Material Historical Market: Breakup by Sole Component (USD Million), 2018-2022
5.    Global Footwear Sole Material Market Forecast: Breakup by Sole Component (USD Million), 2023-2028
6.    Global Footwear Sole Material Historical Market: Breakup by End-Consumer (USD Million), 2018-2022
7.    Global Footwear Sole Material Market Forecast: Breakup by End-Consumer (USD Million), 2023-2028
8.    Global Footwear Sole Material Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Footwear Sole Material Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Footwear Sole Material Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Footwear Sole Material Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Footwear Sole Material Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Footwear Sole Material Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Footwear Sole Material Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Footwear Sole Material Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Footwear Sole Material Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Footwear Sole Material Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Footwear Sole Material Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Footwear Sole Material Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Footwear Sole Material Market Structure

Key Questions Answered in the Report

The market reached a value of USD 19.4 billion in 2022.

The market for footwear sole materials is estimated to grow at a CAGR of 4.60% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of USD 25.3 billion by 2028.

The increasing awareness about the importance of high-quality footwear made of exceptional quality sole material, rising disposable income, growing expansion of footwear manufacturing brands, and rapid urbanisation are the major drivers of the market.

The key trends in the footwear sole material market include the thriving e-commerce sector, growing research and innovations by the major market players aimed towards providing high-quality footwear, and increasing women athletes.

Leather, plastics, and rubber, among others, are the segments based on material. The plastics segment is further subdivided based on type into EVA, PU, and PVC, among others, whereas the rubber segment is segmented based on type into natural and synthetic.

In sole, mid sole, and out sole are the different sole components in the market.

Men, women, and kids are the major end-consumers included in the market.

Rubbers such as polyvinyl chloride (PVC) are waterproof footwear sole materials.

Covestro AG, Huntsman International LLC, BASF SE, Braskem, Solvay, INOAC Corporation, and Asahi Kasei Group, among others, are the key market players, according to the report.

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