South America Footwear Sole Material Market – Industry Trends and Forecast to 2030

South America Footwear Sole Material Market Analysis and Size

The essential factors contributing to the growth of the footwear sole material market in the forecast period of 2023 to 2030 include the rising demand for the inner soft sole for walking shoes and loafers among men, women, and kids. Along with this, the rapidly increasing demand for shoes, growing industrialization, rising consumer awareness, and various technical improvements are increasing sales and revenue which is significantly contributing to the market’s growth.

Data Bridge Market Research analyses that the footwear sole material market which was USD 10,20,156.11 thousand in 2022, is expected to reach USD 14,28,700.19 thousand by 2030, growing at a CAGR of 4.3% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

South America Footwear Sole Material Market Scope and Segmentation

Market Definition

Footwear sole material refers to the material which is used for the manufacturing of different kinds of soles for various suitable applications. Footwear sole materials are resistant to putrefaction and enzymatic destruction. Therefore, after repeated wetting-drying cycles the footwear sole material is capable of retaining its characteristics. Footwear shoe soles are made from a variety of materials such as rubber, leather, polyurethane, and various bio-compounds.

South America Footwear Sole Material Market Dynamics

Drivers

• Increase demand for eco-friendly footwear

The demand for eco-friendly footwear among people is increasing due to greenhouse gas emission objectives, and rising environmental concerns. People are preferring eco-friendly footwear and market players are developing eco-friendly shoes. Adidas has introduced innovative biodegradable shoes it is made from bio-degradable substance which is a variation of spider silk. The growing demand for eco-friendly footwear is driving the market’s growth.

• Rise in physical activity

People are becoming healthcare and are indulging in physical activities. The rising athletic and physical activities such as jogging, and running are increasing the demand for athletic shoes and footwear which is further surging the demand for footwear sole material in the South America region. Along with this people are indulging in games and various sports which require comfortable footwear soles in the shoes which are driving the market’s growth.

Opportunities

• Benefits of 3D printing

3D printing technology is a very useful technology as it helps to produce the ready-to-wear pair of shoes in very less time. Along with this 3D printing helps to reduce waste production during the manufacturing processes which further benefits the footwear sole material market.  The fast production is further catering to the growing demand for footwear sole material in the region which is fuelling the market’s growth.

• Growing demand for footwear

The sales of footwear have been fueled by evolving lifestyles and inclination toward shopping. As the styles are advancing and changing, the demand for various types of footwear is increasing globally. The increasing demand for footwear such as sneakers, loafers, sandals, running shoes, and others requires footwear sole material for the manufacturing of footwear which is fueling the market’s growth.

Restraints/Challenges

• Rise of counterfeit goods

There is a rise in counterfeit goods in the footwear industry. Small businesses and local manufacturers use low-quality and inexpensive materials for the manufacturing of footwear. The fake soles and footwear are imitations of popular brands which are made for profiting from the higher pricing of the real goods. The counterfeit goods are further reducing the sales and value of real and high-quality products which is a major challenge hindering the market’s growth.

• Low adoption of modern technologies

There is slow adoption of new modern and innovative technologies among the market players and other manufacturers. Along with this the adoption of cutting-edge technology is constrained by obstacles such as high costs and technical difficulties to operate new high-tech machines. Along with this, the modern technologies are away from the small manufacturers due to less knowledge and high cost which is a major restraint hindering the market’s growth.

This footwear sole material  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the footwear sole material market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In September 2021, BASF collaborated with Hotter to provide Hotter's casual shoes with Infinergy, Expanded Thermoplastic Polyurethane (E-TPU). The combination of Hotter's cushion and the technology along with BASF SE Infinergy provides exceptional cushioning to classic shoes. This collaboration will able to provide more comfortable shoes which will attract number of audience.
• In February 2020, Puma debuted a new line of recycled plastic-made footwear. Puma and First Mile collaborated to develop a line of eco-friendly footwear. This collaboration would cater the needs of major population which will drive the market’s growth.

South America Footwear Sole Material Market Scope

The footwear sole material market is segmented on the basis of sole material, sole component, product, distribution channel, end user, sole type and industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Sole Material

• Plastic Footwear Soles
• Ethylene Vinyl Acetate
• Polyurethane
• Polyvinyl Chloride
• Thermoplastic Polyurethane
• Methylene Diphenyl Diisocyanate
• Toluene Diphenyl Diisocyanate
• Others
• Rubber Footwear Soles
• Natural
• Synthetic
• Petroleum Rubber
• Vulcanized Rubber
• Thermoplastic Rubber
• Leather Footwear Soles
• Chrome-Tanned Leather
• Bio-Compounds
• Logged Wood
• Other Materials

Sole Component

• Outsole
• Innersole
• Mid Sole
• Unit Sole

Product

• Athletic Footwear Sole Material
• Running Shoes
• Soccer Shoes
• Basketball Shoes
• Tennis Shoes
• Non-Athletic Footwear Sole Material
• Casual Footwear
• Slippers
• Fashion Footwear
• Boots
• Military Boots
• Formal Footwear
• Others
• Sneakers
• Sandals

Distribution Channel

• Online
• E-Commerce
• Offline
• Direct Sale/b2b
• Specialty Stores
• Shoe Stores
• Retail Stores
• Super Markets
• Others

End User

• Men
• Women
• Kids

Sole Type

• New Soles
• Repair Soles

Industry

• Agriculture Industry
• Chemical Industry
• Construction Industry
• Metal Industry
• Food Industries
• Transportation Industries
• Security Industry
• Mining Industry
• Pharmaceutical Industry
• Electronic Industry
• Others

South America Footwear Sole Material Market Regional Analysis/Insights

The footwear sole material market is analysed and market size insights and trends are provided by sole material, sole component, product, distribution channel, end user, sole type and industry as referenced above.

The countries covered in the footwear sole material market report are Brazil, Argentina and Rest of South America as part of South America.

Brazil dominates the footwear sole material market due to the increasing production and consumption of footwear sole material in the country. Along with this, the increasing demand for soft sole in daily wear footwear and easy production of the footwear sole material is driving the market’s growth.

Argentina also dominates the footwear sole material market due to the increase in demand for lightweight soles in sportswear in which polyurethane material. Along with the surging sports activities in the country is driving the market’s growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and South America Footwear Sole Material Market Share Analysis

The footwear sole material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to footwear sole material market.

Some of the major players operating in the footwear sole material market are:

• The Lubrizol Corporation (U.S.)
• Wanhua. (China)
• Huntsman International LLC. (U.S.)
• Coim Group (Italy)
• Solvay (Belgium)
• BASF SE (U.S.)
• Dow (U.S.)
• Covestro AG (Germany)
• ASAHI KASEI CORPORATION (Japan)
• Era Polymers Pty Ltd (Australia)
• Braskem (America)   
• INOAC CORPORATION (Japan)
• INGOM S.P.A (Italy)
• Vibram Commerce LLC (Italy)
• Allbirds, Inc. (U.S.)
• Soles by MICHELIN (China)
• Arkema (France)
• Evonik Industries AG (Germany)
• Continental Reifen Deutschland GmbH (Germany) 

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