PU Sole (Footwear Polyurethane) Market – Overview
The global PU sole (footwear polyurethane) market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). The global PU sole (footwear polyurethane) market is projected to gain from the expansion of the footwear industry, which is driven by changing fashion and lifestyle trends. The use of polyurethane in footwear provides exceptional features such as great mechanical strength, making the shoes sturdy and long-lasting. PU soles (footwear polyurethane) are becoming more popular in a variety of footwear styles, including casual, sports, formals, boots, and slippers and sandals. The growing demand for PU soles in sports and leisure applications is expected to boost the global PU sole (footwear polyurethane) market. Moreover, increased awareness about the need for safety footwear is projected to bolster the growth of the global PU sole (footwear polyurethane) market.
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PU Sole (Footwear Polyurethane) Market – Competitive Landscape
Prominent players active in the global PU sole (footwear polyurethane) market are DuPont (US), BASF SE (Germany), Lanxess (Germany), Covestro (Germany), Wanhua Chemical Group (China), Huntsman (US), Lubrizol (US), Manali Petrochemical (India), Coim Group (Italy), and INOAC (Japan)
The leading players are implementing important strategies such as new product developments, which are helping to drive the growth of the PU sole (footwear polyurethane) market.
BASF has been researching, manufacturing, and distributing custom-tailored thermoplastic polyurethane elastomers (TPU) and polyurethane systems for the production of all sorts of soles for over forty years. Elastollan and Elastopan are two cutting-edge PU materials for all kinds of soles and shoes.
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PU Sole (Footwear Polyurethane) Market – Trends and Opportunities
High demand for long-lasting shoes is expected to boost the global PU sole (footwear polyurethane) market. Moreover, the increase in footwear manufacturing and sales is the primary aspect projected to drive the global PU sole (footwear polyurethane) market. The superior qualities of polyurethane as a shoe sole material are likely to bolster the global PU sole (footwear polyurethane) market growth. Significant factors such as rising disposable income and expanding urbanization are also expected to drive the global PU sole (footwear polyurethane) market. Furthermore, changes in fashion and lifestyle trends are anticipated to provide growth prospects to the global PU sole (footwear polyurethane) market. In addition, technological advancements and rising demand from developing countries are expected to boost the global PU sole (footwear polyurethane) market.
The rising popularity of fitness activities and outdoor sports is likely to drive the demand for sports shoes in a variety of applications such as running, hiking, tennis, and golfing. Moreover, increased participation in sports by people of different ages around the world is expected to fuel product demand during the projection period. The leisure application category is projected to witness strong growth due to increased product use in hotels and resorts, as well as on cruise ships, as well as other applications such as house slippers and sandals and work & safety shoes, among others. Due to its waterproofing properties, PU sole footwear is perfect for water-based leisure activities such as spa tubs or swimming pools, among others.
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PU Sole (Footwear Polyurethane) Market – Regional Landscape
The Asia Pacific PU sole (footwear polyurethane) market is expected to grow during the forecast period due to increased footwear production in nations such as India, China, Vietnam, and Indonesia. China and Indonesia are projected to make a significant contribution to the PU sole (footwear polyurethane) market in Asia Pacific. Moreover, due to the rising population and consumer purchasing power, regional demand is likely to rise during the projection period.
The PU sole (footwear polyurethane) market in Europe is projected to expand during the forecast period owing to strict regulations imposed by numerous sports associations such as the National Football Association (NFA), National Basketball Association (NBA), and International Olympic Committee (IOC), concerning athlete safety while competing in their respective events hosted in Europe. This aspect is likely to increase product demand in a variety of applications, including sports equipment manufacturing industries and military boot manufacturing firms in this region.
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