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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) Graham Glasgow Jersey , 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 Michael Roberts Jersey , 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 Kenny Golladay Jersey , 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 Jarrad Davis Jersey , 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 鈥淕rowth Opportunities in the Global Footwear Sole Material Market 2018-2023: Trends, Forecast Kerryon Johnson Jersey , and Opportunity Analysis.鈥?The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive