DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The PU sole (footwear polyurethane) market size was estimated at USD 4.2 billion in 2019 and is projected to reach USD 5.9 billion by 2024, at a CAGR of 7.6%.
The high growth is attributed to the growth of the footwear industry, which is characterized by changing fashion and lifestyle trends. The use of polyurethane in footwear offers superior properties, such as high mechanical strength, which makes the shoes robust and durable. PU sole (footwear polyurethane) is finding increased use in various footwear types, such as sports, casual, boots, formals, and slippers & sandals.
The leading players in the global PU sole (footwear polyurethane) market include 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).
Casuals-the largest application 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 some countries, including China and India. The demand for PU sole is growing because casual footwear can be used on a daily basis and it also provides a wide range of performance in outdoor activities. Loafers, sneakers, and flat shoes are some of the casual footwear in the market.
Methylene diphenyl diisocyanate (MDI) raw material is the fastest-growing segment in the overall PU sole (footwear polyurethane) market.
Methylene diphenyl diisocyanate (MDI) is a raw material for PU sole (footwear polyurethane). MDI is the most widely-used aromatic diisocyanate in PU sole (footwear polyurethane), which primarily exists in three isomers, namely 2,2'- MDI, 2,4'-MDI, and 4,4'-MDI. 4,4'-MDI isomer is used in shoe sole formulation. In order to make polyurethane for footwear, MDI is reacted with polyols in the presence of other additives. MDI-based polyurethanes have applications in compact outsoles and unit soles. The properties of MDI, such as high degree of stiffness and resilience is expected to drive the market for this segment.
APAC is the largest and the fastest-growing market of PU sole (footwear polyurethane).
APAC is projected 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 increasing production of footwear from countries such as China, India, Indonesia, and Vietnam. China is expected to be the largest market for PU sole (footwear polyurethane) in APAC. Indonesia is expected 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 the 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.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
5.4 Innovation (Patent Analysis)
5.5 Value Chain Analysis
5.6 Pricing Analysis
5.7 YC, YCC shift
5.8 Macroeconomic Overview
6 PU Sole (Footwear Polyurethane) Market, By Raw Material - Forecast till 2024 (in USD Million and KT)
6.1 Methylene Diisocyanate (MDI)
6.2 Toluene Diisocyanate (TDI)
7 PU Sole (Footwear Polyurethane) Market, By Application - Forecast till 2024 (in USD Million and KT)
7.3 Slippers & Sandals
8 PU Sole (Footwear Polyurethane) Market, By Region - Forecast till 2024 (in USD Million and KT)
8.2 North America
8.3.6 Rest of Europe
8.4.4 South Korea
8.4.6 Rest of APAC
8.5 Rest of the World (RoW)
8.5.1 Middle East & Africa
8.5.2 South America
9 Competitive Landscape
9.2 New Product Launches
9.3 Expansion Activities
9.4 Partnerships, Agreements and Collaborations
9.5 Mergers and Acquisitions
9.6 Industry Structure
9.6.1 Market Share/Capacities of Key Players/Operational Growth Drivers
9.6.2 Industry Consolidation/Fragmentation
10 Company Profiles
10.1 Huntsman Corporation
10.3 Dow Inc.
10.5 Wanhua Chemical Company
10.9 Manali Petrochemical
10.10 INOAC Corporation
10.11 Eurofoam Group
10.12 Asahi Kasei Corporation
10.14 Headway Group
10.15 Cellular Mouldings
10.16 ERA Polymers
10.19 VCM Polyurethanes
10.20 Rogers Corporation
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