Opportunities for the global footwear sole material market to reach $23.0 billion by 2023

According to a new market report published by Lucintel, the future of the global footwear sole material market looks promising with opportunities in athletic and non-athletic shoes. The global footwear sole material market is expected to reach an estimated $21.0 billion by 2023 with a CAGR of 5.9% from 2018 to 2023. The major growth driver in this market is rise in footwear production and growth in consumer spending.

In this market, rubber, polyvinyl chloride (PVC), polyurethane (PU), ethyl vinyl acetate (EVA), and leather are utilized to manufacture midsole, outsole and insole for footwear. On the basis of comprehensive research, PVC is expected to be the largest material by value and volume and also witness the highest growth during the forecast period because it provides the best synthetic alternative to traditional leather with more cost effective options for sole manufacturing.

Within this market, non-athletic will remain the largest end use industry by value and volume due to increase in consumer purchasing power, and growing demand for casual and fashionable footwear.

Asia Pacific is expected to remain the largest region by value and volume and also witness the highest growth over the forecast period due to rising population, growing disposable income, and increasing sports activities.

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of fusion of plastic with other sole materials, and shifting of footwear manufacturers from China to South East Asia. DowDupont, Huntsman, BASF, Solvay, Braskem, Ningbo Cerrion, International Trading Co. LTD, and Metropole are among the leading suppliers of the footwear sole material market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global footwear sole material market by material, sole component, product, end user, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Footwear Sole Material Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global footwear sole material market by material, sole component, product, end user and region as follows:

By Material (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

• Rubber
• Polyvinyl chloride (PVC)
• Thermoplastic rubber (TPR)
• Polyurethane (PU)
• Ethyl vinyl acetate (EVA)
• Vulcanized rubber
• Leather
• Others

By Sole Component (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

• Midsole
• Insole
• Outsole

By Product (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

• Athletic
• Non-Athletic

By End User (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

• Men
• Women
• Children

By Region (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

·         North America

·         Europe

·         Asia Pacific

·         The Rest of the World

This 238 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Capital Investment Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global footwear sole material market by material (rubber, PVC, TPR, PU, EVA, vulcanized rubber, leather, and others), by sole component (midsole, insole, and outsole), by product (athletic and non-athletic), by end user (men, women, and children) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are emerging trends in this market and the reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the leading players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and to what extent do they pose a threat for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last five years in this market?