PU sole Market Size – USD 4.98 Billion in 2020, Growth – CAGR of 5.2%, Trends – Product launches and research for advanced pruritus therapeutics
The recent analysis by Reports and Data suggests that the market for PU sole is anticipated to have a market value of USD 7.47 Billion. The study contains a detailed analysis of PU sole, which is considered to be the most superior design for sole of shoes considering the fact that it is non-abrasive, light weight, water and fire resistant and possess shock absorbing qualities. It is used in all types of footwear. PU sole makes the footwear very durable, and is being adopted in the fashion industry excessively, it was previously used for trekking and as trekking shoe. The PU sole is very affordable making it look very attractive in the market, especially in the developing countries.
The growing demand in the PU sole market due to the developments and upgradations in fashion industry coupled with the high income earning sections of the society has been able to serve as a force which has pushed up the demand for PU sole in the market.
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Top Companies: Asahi Kasei Corporation, BASF SE, Cellular Mouldings Coim Group, Covestro, Dowdupont Euro Foam Group, Huntsman Manali Petrochemicals, Rogers Corporation VCM Polyurethanes and Wanhua Chemical Group
Further key findings from the report
- Although in the product segment of slippers and sandals have the highest market share, leisure footwear which comprises of daily use fashionable footwear such as loafers and sneakers is growing at a very high CAGR in the PU sole market
- It was found that the market for PU sole is growing at a swift rate because of the change in taste and preference among the consumers. The different styles and trends in the footwear industry has been exploited by PU sole manufacturers
- After Asia- Pacific, Europe is found to have the highest CAGR of about 5.3%. This can be attribute to the rise in footwear industry in Europe owing to upgradation of fashion and need for safety footwear. The investments are very high in this given area
- Toluene Diphenyl Diisocyanate (TDI) accounts for only a small part of the sole production market with respect to raw materials used, i.e. almost 12%. This is because it has very high vapour pressure a lot higher than MDI and hence crosses the OSHA permissible exposure limits
- The PU sole is preferred more in developing economies like China and India rather than the US. This is because of its affordability and durability. Also. There is a second hand market for pre used soles which is an added advantage to use these soles. Hence China is the major producer of PU soles.
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Product Type (Revenue, USD Million; 2020–2028)
- Sports
- Leisure
- Work & Safety
- Slippers & Sandals
- Others
Raw Material (Revenue, USD Million; 2020–2028)
- Methylene Diphenyl Diisocyanate (MDI)
- Toluene Diphenyl Diisocyanate (TDI)
- Polyols
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the PU sole Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of PU sole Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the PU sole Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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