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Market Size – USD 4.98 Billion in 2020, Market Growth - CAGR of 5.2%, Market Trends – Product launches and research for advanced pruritus therapeutics
NEW YORK CITY, NEW YORK, UNITED STATES, July 21, 2022 /EINPresswire.com/ -- The recent analysis by Reports and Data suggests that the market for PU sole Market is anticipated to have a market value of USD 7.47 Billion. The study contains a detailed analysis of PU sole, which is considered to be the most superior design for sole of shoes considering the fact that it is non-abrasive, light weight, water and fire resistant and possess shock absorbing qualities. It is used in all types of footwear. PU sole makes the footwear very durable, and is being adopted in the fashion industry excessively, it was previously used for trekking and as trekking shoe. The PU sole is very affordable making it look very attractive in the market, especially in the developing countries.
The growing demand in the PU sole market due to the developments and upgradations in fashion industry coupled with the high income earning sections of the society has been able to serve as a force which has pushed up the demand for PU sole in the market. Also, footwear companies are involving themselves to create sustainable customer base by providing shoes with improved ergonomics and microclimate which has augmented the PU sole market. The research based operations by manufacturers to find out safer and economic PU soiling methods and treatment. PU sole is presently identified as the most desirable material for sole production which gives a competitive advantage over all other sole markets. Hence, it is seen as a very favourable zone to channelize investments, especially in the developing regions. However, there are a few obstacles like safety regulations against human health hazards and rising environmental concerns, availability of substitutes and volatile raw material costs which hampers the growth of PU sole.
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Top Companies: Asahi Kasei Corporation, BASF SE, Cellular Mouldings Coim Group, Covestro, Dowdupont Euro Foam Group, Huntsman Manali Petrochemicals, Rogers Corporation VCM Polyurethanes and Wanhua Chemical Group
Some Key Highlights from the Report:
Although in the product segment of slippers and sandals have the highest market share, leisure footwear which comprises of daily use fashionable footwear such as loafers and sneakers is growing at a very high CAGR in the PU sole (Footwear Polyurethane) market It was found that the market for PU sole (Footwear Polyurethane) is growing at a swift rate because of the change in taste and preference among the consumers. The different styles and trends in the footwear industry has been exploited by PU sole manufacturers After Asia- Pacific, Europe is found to have the highest CAGR of about 5.3%. This can be attribute to the rise in footwear industry in Europe owing to upgradation of fashion and need for safety footwear. The investments are very high in this given area Toluene Diphenyl Diisocyanate (TDI) accounts for only a small part of the sole production market with respect to raw materials used, i.e. almost 12%. This is because it has very high vapour pressure a lot higher than MDI and hence crosses the OSHA permissible exposure limits The PU sole is preferred more in developing economies like China and India rather than the US. This is because of its affordability and durability. Also. There is a second hand market for pre used soles which is an added advantage to use these soles. Hence China is the major producer of PU soles. BASF SE a company based in Germany has expanded its production throughout Asia and has set up research labs all over the region. This is to increase its regional presence and exploit the high foot wear demands in Asia. Its prime focus is to improve methods for soiling of polyurethane.
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Product Type (Revenue, USD Million; 2020–2028)
Sports Leisure Work & Safety Slippers & Sandals Others
Raw Material (Revenue, USD Million; 2020–2028)
Methylene Diphenyl Diisocyanate (MDI) Toluene Diphenyl Diisocyanate (TDI) Polyols
End Use (Revenue, USD Million; 2020–2028)
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The global PU sole market is segmented into:
North America (U.S.A., Canada, Mexico) Europe (Italy, U.K., Germany, France, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Coverage of the Report Region and country-wise assessment from the period 2016-2028. For the study, 2016-2017 has been utilized as historical data, 2020 as the base year, and 2019-2028, has been derived as forecasts for PU sole (footwear polyurethane) Regional Competitors analysis of PU sole (footwear polyurethane) market Demand and Supply GAP Analysis PU sole (footwear polyurethane) Market share analysis of the key industry player Strategic recommendations for the new entrants of PU sole (footwear polyurethane) market Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations) Strategic recommendations in key business segments based on the market estimations Competitive landscaping mapping the key common trends
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About Us: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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