The footwear sole material plays a key role in providing comfort, protection, and durability to shoes. Materials like EVA, PU, and rubber are commonly used in footwear soles owing to properties such as shock absorption, flexibility, and slip resistance. Recent advancements in material engineering have led to the development of novel sole materials that mimic natural structures for enhanced performance.
The global Footwear Sole Material Market is estimated to be valued at US$ 130 billion in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Biomimetic sole materials are gaining popularity in the footwear sole material market. Several material manufacturers are developing soles inspired by nature for superior characteristics. For instance, researchers have designed soles replicating the microstructure of gecko feet that allows peak grip and efficient movement on varied surfaces. Similarly, other nature-inspired materials offer self-cleaning, anti-fouling, and non-slip properties. The ability of these biomimetic materials to mimic advanced functions of living organisms makes them well-suited for footwear applications. Their enhanced performance attributes are augmenting their use in sports shoes, hiking boots, and workwear. The technological advancements in material engineering to create nature-inspired synthetic substitutes are expected to drive the demand for biomimetic sole materials.
Segment Analysis
The global footwear sole material market is segmented by material type, product type, and end-use industry. By material type, the market is dominated by the rubber sole segment. Rubber provides excellent shock absorption and traction properties, thus making it an ideal material for soles. It accounts for over 40% of the total market share.
Key Takeaways
The Global Footwear Sole Material Market Demand is expected to witness high growth during the forecast period of 2023 to 2028.
Regional analysis - The Asia Pacific region is expected to dominate the market during the forecast period. Countries like China, India, Indonesia, and Vietnam witness high demand and production of footwear. Manufacturers prefer setting up production bases in these emerging economies to leverage low costs.
Key players operating in the footwear sole material market are Saint-Gobain, Dow Inc., Huntsman Corporation, Covestro AG, BASF SE, Solvay SA, Evonik Industries AG, DuPont de Nemours Inc., Wanhua Chemical Group Co. Ltd.
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