New York, NY -- (SBWIRE) -- 01/18/2021 -- Superior properties of PU sole and extensive demand & supply for footwear will stimulate footwear polyurethane industry growth.

Market Size – USD 4.46 Billion in 2018, Market Growth - CAGR of 5.2%, Market Trends – Increasing demand for environment-friendly footwear soles.

The Global PU sole (footwear polyurethane) market size is expected to reach USD 6.71 billion from USD 4.46 Billion in 2018, at a CAGR of 5.2% through 2026. The market growth is driven by superior properties of PU sole and extensive demand & supply for footwear.

PU sole (Footwear Polyurethane) is gaining major popularity due to the developments and upgradations in fashion industry and superior product properties like light weight, water & fire resistant, shock absorbing, and non-abrasive qualities. It is quite attractive and affordable, which is making the developing countries key markets for the PU sole (footwear polyurethane) business.

Companies considered and profiled in the report

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

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Currently, PU sole is identified as the most desirable material for footwear sole production over all other soles. Manufacturers are considering it a favourable zone to channelize investments, primarily in the developing regions. Rise in research-based operations by manufacturers for economical and safer PU soiling methods and treatment is likely to boost industry growth. However, rising environmental concerns, safety regulations against human health hazards volatile raw material prices, and availability of substitutes may hamper the PU sole (Footwear Polyurethane) market expansion over the forecast period.

Further key findings from the report

The Global PU sole (footwear polyurethane) market size is expected to reach USD 6.71 billion from USD 46 Billion in 2018, at a CAGR of 5.2% through 2026. The market growth is driven by superior properties of PU sole and extensive demand & supply for footwear.
Based on raw material, the MDI segment accounts to about 57% of the footwear polyurethane market due to high flexible and environment-friendly nature of the product.
The Toluene Diphenyl Diisocyanate (TDI) segment accounts for nearly 12% of the market share. The low share of the segment can be attributed to the exceeding OSHA permissible exposure limits of TDI.
In terms of end-use, Men segment accounted for about 51% of the market share due to high demand for men's safety shoes, trekking shoes, and athletic shoes.
Regionally, Asia- Pacific is expected to be the largest market for PU soles with a share of 53% in the upcoming years. Countries like China, Vietnam and India have been contributing significantly to the market share due to growth in youth population, and high disposable incomes. China and India are generating huge demand for PU soles due to the durability and affordability of the material.
Followed by APAC, Europe is estimated to register the highest growth rate of 5.3% over the analysis period. The robust growth can be attributed to the growing demand for safety footwear with shock absorbing qualities in the region.
Key players in the Global PU sole (footwear polyurethane) market are BASF SE, Asahi Kasei Corporation, Cellular Mouldings Coim Group, Dowdupont Euro Foam Group, Covestro, Huntsman Manali Petrochemicals, Wanhua Chemical Group, and Rogers Corporation VCM Polyurethanes, among others.

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Segments covered in the report:

The PU sole (footwear polyurethane) market has been segmented on the basis of type, raw materials, end use, and region:

Product Type (Revenue, USD Million; 2017–2027)

Sports
Leisure
Work & Safety
Slippers & Sandals
Others

Raw Material (Revenue, USD Million; 2017–2027)

Methylene Diphenyl Diisocyanate (MDI)
Toluene Diphenyl Diisocyanate (TDI)
Polyols

End Use (Revenue, USD Million; 2017–2027)

Men
Women
Children

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Regional Outlook (Revenue, USD Million; 2017–2027)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Global PU sole (footwear polyurethane) Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. PU sole (footwear polyurethane) Market Segmentation & Impact Analysis

Continued……….

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