In the world of footwear manufacturing, PU (Polyurethane) soles have gained significant popularity due to their versatile properties, durability, and eco-friendly nature. PU soles are widely used in the production of various footwear types, including sneakers, sandals, boots, and athletic shoes. The PU sole (footwear polyurethane) market size is estimated to be USD 4.2 billion in 2019 and projected to reach USD 5.9 billion by 2024, at a CAGR of 7.6%. This report focuses on the key global PU sole (footwear polyurethane) market key players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
Browse 118 Market Data Tables and 40 Figures spread through 130 Pages and in-depth TOC on "PU sole (Footwear Polyurethane) Market by Raw Material (Methylene Diphenyl Diisocyanate, Toluene Diphenyl Diisocyanate, and Polyols), Application ( Casuals, Boots, Slippers & Sandals, Sports and Formals), and Region - Global Forecast to 2024"
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PU sole (footwear polyurethane) market Key Players
The key companies profiled in the PU sole (footwear polyurethane) market report are BASF SE (Germany), Covestro (Germany), DuPont (US), Huntsman (US), Wanhua Chemical Group (China), Coim Group (Italy), Lubrizol (US), Lanxess (Germany), Manali Petrochemical (India), and INOAC (Japan).
BASF (Germany) is a chemical company having presence in more than 80 countries. The company operates through six business segments, namely, chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. It has 13 operating divisions and 86 strategic business units. In January 2018, BASF established a new MDI synthesis unit in Geismar, Louisiana. The annual capacity of MDI production of the production facility will increase from 300,000 metric tons to 600,000 metric tons. This expansion enabled the company to enhance its presence in North America.
This research report explores the thriving PU sole market and highlights its key characteristics, applications, and sustainability advantages.
- Versatility and Performance:
PU soles are known for their exceptional versatility, offering manufacturers a wide range of design options and performance features. The material can be molded into various shapes, textures, and densities, making it suitable for diverse footwear styles and purposes. PU soles offer excellent cushioning, shock absorption, flexibility, and lightweight comfort, ensuring a pleasant walking or running experience for consumers.
- Durability and Longevity:
One of the key advantages of PU soles is their exceptional durability, which contributes to the longevity of the footwear. The material exhibits excellent resistance to wear and tear, abrasion, and chemicals, making it well-suited for both indoor and outdoor use. PU soles maintain their shape and cushioning properties over an extended period, enhancing the overall lifespan of the footwear.
- Comfort and Ergonomics:
Comfort is a crucial factor in footwear design, and PU soles excel in this aspect. The material provides superior cushioning and support, reducing foot fatigue and enhancing overall comfort. PU soles can be customized to incorporate specific ergonomic features, such as arch support or heel stabilization, catering to the unique needs of different individuals.
- Lightweight and Flexible:
PU soles are known for their lightweight nature, adding to the overall comfort and flexibility of the footwear. Unlike traditional rubber or leather soles, PU soles offer a softer and more pliable feel, allowing for natural foot movements. This flexibility enhances agility and ease of movement, making PU-soled shoes popular among athletes and individuals seeking dynamic footwear options.
- Environmental Sustainability:
In recent years, sustainability has become a significant concern in the footwear industry. PU soles offer a sustainable alternative due to their eco-friendly composition and production process. Many PU soles are manufactured using water-based or solvent-free technologies, minimizing harmful emissions and reducing the carbon footprint. Additionally, the durability and longevity of PU soles contribute to the reduction of waste generated by shoe disposal.
- Market Growth and Trends:
The global PU sole market has experienced robust growth in recent years and is expected to continue its upward trajectory. Rising consumer demand for comfortable and durable footwear, coupled with increasing environmental awareness, has fueled the adoption of PU soles by footwear manufacturers. The market offers ample opportunities for innovation, with companies investing in research and development to enhance the performance and sustainability of PU soles further.
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Casuals is the largest footwear segment in the overall PU sole (footwear polyurethane) market.
The casuals segment is projected to be the largest footwear in the overall PU sole (footwear polyurethane) market. The large market size for this segment is attributed to consumer preference for casuals in the developing economies because casual footwear offers a wide range of performance for outdoor activities. Loafers, sneakers and flats are some of the types of casual footwear available in the market.
Increasing footwear production and sales—the major driver of the PU sole (footwear polyurethane) market.
APAC is estimated to be the largest and the fastest-growing market for PU sole (footwear polyurethane). The high growth rate of the market in the region is due to the increased production of footwear in countries, such as China, India, Indonesia, and Vietnam. China is projected to be the largest market for PU sole (footwear polyurethane) in the APAC region. Indonesia is estimated to be the fastest-growing market in the region as well as globally. The regional demand is expected to increase during the forecast period, owing to growing population and consumer spending. China is the leading manufacturer and consumer of footwear in APAC. The high demand for sports and casual footwear is expected to drive the demand for PU sole (footwear polyurethane) in the region.
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