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| Footwear Sole Material Market Size |
The market for
materials used in footwear soles encompasses a variety of options utilized in
crafting the underside of shoes. These materials, including EVA, rubber, PU,
and PVC, serve to provide comfort and safeguard the foot, offering features
such as cushioning, support, flexibility, and longevity.
As per a recent report
from Coherent Market Insights, the global market for Footwear Sole Material
Market is estimated at US$ 22.89 million
in 2023, with a projected Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period from 2023 to 2030.
Key Trends in the
Market:
The increasing demand
for durable and comfortable footwear across different sectors like sports,
fitness, casual wear, and occupational safety is propelling the need for
advanced sole materials. Particularly, EVA footwear soles are gaining
popularity due to their excellent shock absorption and lightweight nature.
Manufacturers are actively innovating EVA compounds by incorporating various
reinforcing materials to enhance cushioning and wear resistance, aiming to
offer premium footwear sensations at affordable prices. This continuous
evolution in EVA compound technology is anticipated to positively impact the
adoption of footwear sole materials in the foreseeable future.
SWOT Analysis:
Strengths: The footwear
sole material market benefits from a wide array of material choices, enabling
manufacturers to select the most suitable sole material based on shoe type and
intended usage.
Weaknesses:
Fluctuations in fashion trends and consumer preferences affect the demand for
specific sole materials, necessitating continuous investments in research and
development for material innovation.
Opportunities: The
increasing popularity of specialized and performance-oriented shoes for
activities like running, hiking, and sports creates opportunities to introduce
advanced sole materials offering superior cushioning, traction, and durability.
Threats: Stringent
environmental regulations globally regarding material disposal and recycling
pose challenges for footwear brands and sole material producers.
Key Insights:
The demand for Footwear
Sole Material Market Size is expected to witness substantial growth
from 2023 to 2030. North America currently leads the market, driven by demand
from sports and athletic segments, with Europe and Asia Pacific also displaying
significant shares and projected robust growth due to increasing populations,
disposable incomes, and the adoption of fashion trends in developing nations.
Major players in the
footwear sole material market, such as ClaroNav, Stryker, Brainlab AG, Parsis,
Northern Digital Inc., Heal Force, Medtronic, Synaptive Medical, and Bramsys
Indústria e Comércio Ltd., focus on developing advanced and lightweight sole
materials with enhanced performance attributes like cushioning, shock
absorption, and durability. Rising health consciousness has further spurred
demand for shoes made from natural and eco-friendly materials, attracting new
entrants into the market.
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