PU Sole Footwear Polyurethane Market Size (2024 - 2029)

The Polyurethane Market for Footwear Applications is experiencing a recovery and growth trajectory following disruptions caused by the COVID-19 pandemic. The market's expansion is driven by increased footwear sales and production, although environmental concerns related to polyurethane materials pose challenges. The demand for comfortable footwear presents future opportunities, with the Asia-Pacific region leading in market size and expected to continue its rapid growth due to significant consumption in countries like China, India, and ASEAN nations.

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Market Size of PU Sole Footwear Polyurethane Industry

PU Sole Footwear Polyurethane Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

PU Sole Footwear Polyurethane Market Major Players

*Disclaimer: Major Players sorted in no particular order

PU Sole Footwear Polyurethane Market Analysis

The Polyurethane Market For Footwear Applications Market is estimated to reach USD 2.34 Billion by the end of this year and is projected to reach USD 3.08 Billion in the next five years, registering a CAGR of 5% during the forecast period.

The COVID-19 pandemic has disrupted manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the market started recovering in the past two years by restoring the market's growth trajectory.

  • The major factors driving the market studied are the rise in footwear sales and production growth.
  • On the flip side, the rising environmental concerns regarding the usage of polyurethane materials are hindering the market's growth.
  • The surging demand for comfortable footwear will likely act as opportunities in the future.
  • Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period due to the consumption in countries such as China, India, and ASEAN Countries.

PU Sole Footwear Polyurethane Industry Segmentation

Polyurethane materials are commonly preferred in the footwear industry as it meets the main criteria to produce soles, slippers, and insoles. Polyurethane Market for Footwear Applications is segmented by material, application, and geography. By polyurethane material, the market is segmented into PU foam, PU adhesives, and others. By application, the market is segmented into Athletic Footwear, Leather Footwear, Sneakers, Textile & Other Footwear. The report also covers the market size and forecasts for the polyurethane materials market in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD Billion).

Material
PU Foam
PU Adhesives
Others
Application
Athletic Footwear
Leather Footwear
Sneakers
Textile & Other Footwear
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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PU Sole Footwear Polyurethane Market Size Summary

The polyurethane market for footwear applications is experiencing a positive growth trajectory, driven by increasing footwear sales and production. The lightweight nature of polyurethane makes it an ideal material for comfortable footwear, such as slippers and sandals, which is contributing to its rising demand. The market is recovering from the disruptions caused by the COVID-19 pandemic, with the Asia-Pacific region leading in both production and consumption. This region is expected to continue its dominance and rapid growth due to the high demand in countries like China and India. However, environmental concerns regarding polyurethane usage pose challenges to market expansion. Despite these challenges, the growing preference for comfortable and athletic footwear presents significant opportunities for market players.

The Asia-Pacific region is a key player in the global footwear market, accounting for a substantial portion of production and consumption. China and India are at the forefront, with China being a major manufacturer and consumer, and India witnessing growth driven by urbanization and international brand penetration. The Indian government’s 'Make in India' initiative further supports the local footwear industry. The market is characterized by a partial fragmentation, with major players like BASF SE, Covestro AG, and Dow actively contributing to its development. Recent innovations, such as BASF's collaboration with Berkat Safety for KAMU safety boots, highlight the ongoing advancements in polyurethane applications. These factors collectively drive the demand for polyurethane in the footwear industry, particularly in the Asia-Pacific region.

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PU Sole Footwear Polyurethane Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 The Growth in the Production and Sales of Footwear

      2. 1.1.2 Superior Properties of Polyurethane as Shoes Sole Material

      3. 1.1.3 The rising demand for Athletic Footwear

    2. 1.2 Restraints

      1. 1.2.1 High Cost of Polyurethane Soles used in Footwear applications

      2. 1.2.2 Increasing Environmental Concerns

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Material

      1. 2.1.1 PU Foam

      2. 2.1.2 PU Adhesives

      3. 2.1.3 Others

    2. 2.2 Application

      1. 2.2.1 Athletic Footwear

      2. 2.2.2 Leather Footwear

      3. 2.2.3 Sneakers

      4. 2.2.4 Textile & Other Footwear

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

PU Sole Footwear Polyurethane Market Size FAQs

The PU Sole Footwear Polyurethane Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

BASF SE, Covestro AG, Dow, Huntsman International LLC and LANXESS are the major companies operating in the PU Sole Footwear Polyurethane Market.

PU Sole Footwear Polyurethane Market Report Snapshots

PU Sole Footwear Polyurethane Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)