Global Footwear Sole Material Market - 2021-2028

Global Footwear Sole Material Market - 2021-2028

Market Overview

The global footwear sole material market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).

The sole of a shoe is the bottom part of the shoe that comes in direct contact with the ground. Shoe soles are manufactured from various materials, including natural rubber, leather, leather, polyurethane and PVC compounds. The sole consists of mainly three components known insole, midsole and outsole. The market has various types of soles available based on athletic and non-athletic applications. The demand for shoe sole materials is boosting globally with rising footwear production. Moreover, the companies have now shifted to bio-based materials to manufacture shoe soles with rising environmental concerns.

Market Dynamics

The growing consumption of bio-based materials drives the global footwear sole material market growth

Growing consumption of bio-based materials

Shoe consumption grows continuously globally and brings environmental impacts during production and disposal. The production of shoe soles has significant environmental impacts due to materials such as leather, rubber, polyvinyl chloride and polyurethane ending up in landfills. The vegan and vegetarian communities were among the first to support animal and environmentally-friendly footwear. Initially, eco-shoes tended to be unattractive, low-quality and difficult to find. But the bio-based, biodegradable and recycled footwear has been evolving globally. Global footwear consumption is forecasted to increase by over 5% per year and reach 40 million pairs in 2025.

Various leading footwear brand has launched their bio-based soles for footwear in the market. For instance, in 2021, KEEN Inc. debuted its proprietary manufacturing method that utilizes agricultural waste to generate plant-based soles made without chemical solvents. Moreover, in 2021, Sports company PUMA has created a new midsole made with sugarcane.

The company has introduced new footwear styles this spring, manufactured with recycled materials, as part of its strategy to make its complete product range more sustainable. Better Foam, used in footwear products starting this summer, contains 35% bio-based materials derived from sugar cane.

Adverse environmental impacts during the disposal of footwear soles

The environmental impacts of shoe degradation in landfills are inextricably related to the nature of the materials. The production of various petroleum-based products, such as EVA, used to produce athletic shoe results in severe environmental pollution of water bodies when disposed into landfills. When disposed of in landfills, the footwear can take up to thousands of years to degrade naturally. EVA athletic shoe midsoles can be kept in contact with moist soil for 12 years and experience little to no evidence of biodeterioration.

As the soles degrade, the chemicals used to process the rubber or plastic create pollution as they are discharged into the environment. If the sole materials are burned, then chemicals get into the air more quickly. Phthalates are one of the common chemicals released from materials. Other harmful substances include heavy metals such as cadmium, lead and mercury and aromatic hydrocarbons.

COVID-19 Impact Analysis

The market for sole footwear material was unstable during the initial months of the COVID-19 pandemic, owing to low demand for athletic shoes and work from home scenarios. Moreover, various leading companies have to shut their production plants, which have impacted the demand for sole materials. For instance, Nike announced that manufacturing in Vietnam had ground to a halt due to COVID-19 spreading through facilities and communities. The company could lose 160 million pairs of shoe production due to pandemic facility closures in Vietnam.

In the pandemic, the footwear industry has witnessed a contraction of around 20% in sales compared to the pandemic led-lockdown levels. However, the footwear companies could see sales touching pre-pandemic levels by the end of 2021 as consumer mobility and discretionary spending improve.

Segment Analysis

By type, the footwear sole material market is segmented into chrome-tanned leather, PU, TPU, EVA foam, petroleum rubber, logged wood and others.

Superior properties of EU over other materials is boosting its demand in the footwear industry

Over the years, the industry has experimented with numerous materials to quest for the best sole material for shoes, sneakers and sandals. While many of these materials exhibited exceptional results in specific criteria, polyurethane stood out for holistic performance. Since its advent, polyurethane has been gaining popularity in the footwear industry and has embarked upon a journey to become the ideal sole material.

The leather is a difficult competitor for PU to match up to because of its texture, stylish aesthetics and natural elasticity. However, leather sole could easily lose to the polyurethane when it came to non-negotiable qualities like durability, water resistance, breathability, insulation and many more. Moreover, the comparatively higher cost of the leather has shifted towards PU sole. Moreover, PU sole is preferred over PVC sole due to excellent ventilation, texture and grip on the ground.

Geographical Analysis

Growing footwear manufacturing facilities are boosting sales in Asia-Pacific

Asia-Pacific accounts for 60% of the world's population and is on the verge of a retail boom fueled by fast-evolving lifestyles and behavioral changes towards shopping. With changing retail landscape and advancing styles, the footwear industry is set for phenomenal growth in the future, boosting the growth of the sole material market. Urbanization is also a significant contributor to influencing buying habits of consumers. Rising brand consciousness and increasing discretionary incomes have resulted in enormous footwear consumption growth.

For instance, India is the second-largest global footwear producer after China, accounting for 13% of global footwear production. India produces 2 million pairs of footwear categories, constituting an almost equal% of leather and non-leather footwear. India is the third-largest footwear consuming country after China and U.S., with nearly 1.66 pairs per person. There are nearly 15000 units engaged in manufacturing footwear in India, with a turnover estimated at US$ 6,713 million (Rs. 50,000 crores).

Competitive Landscape

The global footwear sole material market is fragmented and highly competitive with global companies, followed by a few local companies. The footwear companies are looking for efficient materials and technologies to upgrade their collections. Recently, Nike filed suit against Puma for purported patent infringement in a Massachusetts federal court. The accused Puma of multiple counts of patent infringement related to the unauthorized use of its Air, Flyknit and cleat assembly technologies.

In addition, key players contributing to the market's growth are The Dow Chemical Company, Foshan Nanhai Yahang Shoes Co., Ltd, Huntsman, BASF SE, Braskem, Solvay, Airysole, Global Trading Co. LTD, Ningbo Carrion, J&H Shoe Sole and others. The major players are adopting new strategies to dominate the market, such as expanding production, launching new technologies, collaborations, contributing to the global growth of the footwear sole material market.

Dow

Overview: Dow is a multinational corporation engaged in producing plastics, chemicals and hydrocarbons. The company has segmented its product portfolio into 22 categories in automotive and transportation, construction, building and infrastructure, chemical manufacturing and industrial, beauty and personal care, consumer goods and appliances and other industries. Dow operates 106 manufacturing sites in 31 countries, expanded in America, Europe, Asia-Pacific and Middle East & Africa regions.

Product Portfolio: The company offers materials specially designed for outsoles, midsoles and unit soles.

Key Development: In 2021, Dow announced to carry out several capacity expansions projects for the materials to support growing Consumer Solutions business.

Why Purchase the Report?

Visualize the global footwear sole material market segmentation by type, application, end-user and region, highlighting the key commercial assets and players.

Identify commercial opportunities in the global footwear sole material market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of global footwear sole material market-level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global footwear sole material market report would provide an approximate 69 market data table, 66 figures and 180 pages

Target Audience

Raw Material Providers

Buyers

Footwear Sole Manufacturers

Shoe Companies

Distributors

Industrial Companies

Automotive Companies

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Distributors