Global Footwear Sole Material Market – Industry Trends and Forecast to 2030

Global Footwear Sole Material Market, By Product (Non-Athletic ad athletic), Soling Material (Polyurethane, Rubber, EVA, PVC, PEBA, Leather, and Bio-Materials), Sole Component (Outsole, innersole, and midsole), Sole Type (New Soles and Repair Soles), Distribution Channel (Direct sale/B2B, E-Commerce, Specialty Stores, and Others), End-User (Women, Men, and Kids) - Industry Trends and Forecast to 2030.

Footwear Sole Material Market Analysis and Size

The essential factors contributing to the growth of the global footwear sole material market in the forecast period of 2023 to 2030 include the rise in demand for fashionable, comfortable, and convenient footwear. Also, the increasing prevalence of knee and ankle problems and increase in demand for sustainable materials is significantly contributing to the market’s growth. Consumers are increasingly eco-conscious, leading to a rising preference for eco-friendly and sustainable footwear.

Data Bridge Market Research analyses that the global footwear sole material market which was USD 24.13 billion in 2022, is expected to reach USD 38.17 billion by 2030, growing at a CAGR of 5.90% during the forecast period of 2023 to 2030. In 2023, the polyurethane segment will dominate the market due to increasing prevalence of knee and ankle problems and rise in demand for fashionable, comfortable, and convenient footwear. 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.

Footwear Sole Material Market Scope and Segmentation

Market Definition

Shoe soles are made from a variety of materials, including natural rubber, leather, polyurethane, and PVC compounds. The shoe sole materials consist of natural and synthetic materials, including leather and polymers, among others, having application in the manufacture of footwear soles. Numerous materials are employed for the manufacture of footwear soles depending on the type of footwear, its application, and the environment in which it is utilized. Some of the major materials include rubber, daintier and thermoplastic polyurethane. These materials are flexible, strong, and offer ultimate comfort to the wearer's feet.

Global Footwear Sole Material Market Dynamics

Drivers

• Rise in Demand for Fashionable, Comfortable, and Convenient Footwear

The rise in demand for fashionable, comfortable, and convenient footwear is a significant driver in the global footwear sole material market. Consumers increasingly seek footwear that not only looks stylish but also offers comfort and convenience. To meet these preferences, manufacturers require innovative and high-quality sole materials that provide comfort, durability, and style. This demand fuels research and development in the footwear sole material industry, presenting growth opportunities and driving innovation to meet evolving consumer trends.

• Increasing Knee and Ankle Problems among Ageing Population

The increasing prevalence of knee and ankle problems among the aging population is a key driver in the global footwear sole material market. As people age, they require specialized footwear with superior cushioning and support to alleviate discomfort and minimize health issues. This demographic shift spurs demand for advanced sole materials that offer enhanced shock absorption and stability, prompting manufacturers to develop innovative solutions to cater to the aging population's specific needs, thereby driving market growth.

Opportunities

• Increase in the Demand for Sustainable Materials

The increase in demand for sustainable materials presents a substantial opportunity in the global footwear sole material market. Consumers are increasingly eco-conscious, leading to a rising preference for eco-friendly and sustainable footwear. To capitalize on this trend, the industry can develop and offer innovative, sustainable sole materials made from recycled or renewable sources. Meeting these consumer preferences can drive market growth, as it aligns with the broader sustainability goals and environmental awareness.

• Rise in Demand for Eco-Friendly Footwear

The rise in demand for eco-friendly footwear represents a significant opportunity in the global footwear sole material market. Consumers are increasingly seeking footwear options that align with their environmental values. To capitalize on this trend, the industry can develop and offer sustainable, biodegradable, or recycled sole materials. Meeting this demand for eco-friendly options can drive market growth, as it caters to the growing segment of environmentally-conscious consumers and aligns with sustainability goals.

Restraint/Challenge

• Complexity in Designing Shoe Sole

The complexity in designing shoe soles poses a notable challenge in the global footwear sole material market. Shoe soles must balance factors like comfort, durability, flexibility, and grip while meeting design aesthetics and performance expectations. Developing materials that meet these multifaceted criteria is intricate and requires continuous innovation. In addition, different footwear types (for instance, athletic, casual, formal) have unique sole design needs, adding to the complexity. Navigating these design complexities can be resource-intensive and limit the speed of product development.

Recent Development

• In September 2022, Hotter and BASF worked together to provide Infinergy, Expanded Thermoplastic Polyurethane (E-TPU) for Hotter's casual shoes. Hotter's cushion plus technology and BASF SE Infinergy work together to provide traditional shoes outstanding cushioning. This partnership helped the business expand to include both formal and casual clothing

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.

Global Footwear Sole Material Market Scope

The global footwear sole material market is segmented on the basis of product, soling material, sole component, sole type, distribution channel and end-user. 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.

Product

• Non-Athletic
• Athletic

Soling Material

• Polyurethane
• Rubber
• EVA
• PVC
• PEBA
• Leather
• Bio-Materials

Sole Component

• Outsole
• Innersole
• Midsole

Sole Type

• New Soles
• Repair Soles

Distribution Channel

• Direct sale/B2B
• E-Commerce
• Specialty Stores
• Others

End-User

• Women
• Men
• Kids

Global Footwear Sole Material Market Regional Analysis/Insights

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

The countries covered in the global footwear sole material market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

Asia-Pacific is expected to dominate the footwear sole material market due to increase in footwear production globally. It is dominating the market due to rise in demand for fashionable, comfortable, and convenient footwear.

Europe is expected to grow during the forecast period of 2023 to 2030 due to rising knee and ankle problems among ageing population. In addition, increase in footwear production globally is also contributing to the market growth in the region

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream 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 Global 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 company’s focus related to global footwear sole material market.

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

• INOAC CORPORATION (Japan)
• Unisol India (India)
• INGOM SRL (Italy)
• Vibram Corporation (Italy)
• Allbirds, Inc. (U.S.)
• Solvay (Belgium)
• Soles by MICHELIN (France)
• Arkema (France)
• Covestro AG (Germany)
• Evonik Industries AG (Germany)
• BASF SE (Germany)
• Dow (U.S.)
• Huntsman International LLC (U.S.)
• Asahi Kasei Corporation (Japan)
• Continental AG (Germany)