Global PU Sole (Footwear Polyurethane) Market to Reach $16.7 Billion by 2030
The global market for PU Sole (Footwear Polyurethane) estimated at US$10.2 Billion in the year 2023, is expected to reach US$16.7 Billion by 2030, growing at a CAGR of 7.3% over the analysis period 2023-2030. Methylene Diphenyl Diisocyanate (MDI)-based PU Sole, one of the segments analyzed in the report, is expected to record a 7.8% CAGR and reach US$9.9 Billion by the end of the analysis period. Growth in the Toluene Diphenyl Diisocyanate (TDI)-based PU Sole segment is estimated at 6.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 10.7% CAGR
The PU Sole (Footwear Polyurethane) market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2030 trailing a CAGR of 10.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 6.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2030.
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