폴리우레탄(PU) 솔 시장 예측(-2030년) : 유형, 원료, 유통 채널, 용도, 지역별

According to Stratistics MRC, the Global Polyurethane (Pu) Sole Market is accounted for $5.8 billion in 2023 and is expected to reach $10.2 billion by 2030 growing at a CAGR of 9.6% during the forecast period. Polyurethane (PU) soles are a key component in footwear, prized for their durability, comfort, and versatility. Used across various shoe types, including athletic, casual, and formal wear, PU soles offer lightweight cushioning, shock absorption, and water resistance. Their flexibility allows for customization in shoe design while providing excellent traction and support. PU soles cater to diverse consumer segments, including men, women, and children, and are distributed through both online and offline retail channels worldwide.

According to Invest India, the Indian footwear market is expected to grow at 8 percent CAGR to be US$ 11.8 Bn by 2025 and the per-capita consumption of footwear is predicted to increase from 2.33 pairs in 2022 to 2.94 pairs in 2025 that is 3,763 million pairs in 2024-2025.

Market Dynamics:

Driver:

Superior properties of polyurethane (Pu)

Polyurethane exceptional durability, versatility, and lightweight nature make it a preferred choice for applications ranging from automotive components to construction materials. Its insulating properties enable energy efficiency in buildings and appliances, while its chemical resistance ensures longevity in harsh environments. Additionally, PU's comfort and cushioning capabilities make it desirable for consumer products like mattresses and footwear. Its ease of processing allows for cost-effective manufacturing of complex shapes and designs, further enhancing its appeal to manufacturers. As industries continue to seek high-performance materials that offer durability, functionality, and efficiency, PU remains at the forefront due to its superior properties.

Restraint:

Fluctuating raw material prices

Sharp fluctuations in the prices of key raw materials, such as isocyanates and polyols, can disrupt production schedules, increase manufacturing costs, and erode profit margins for PU manufacturers. This volatility makes it difficult for companies to plan and budget effectively, leading to uncertainty in supply chains and pricing strategies. Moreover, sudden spikes in raw material prices may force manufacturers to pass on the increased costs to consumers, resulting in higher prices for PU-based products. Additionally, the unpredictability of raw material prices can deter investment in new projects and technologies within the PU industry, hindering innovation and growth opportunities.

Opportunity:

Increased focus on comfort and style in footwear choices

As consumers prioritize footwear that offers both comfort and fashionable design, there is a growing demand for PU-based materials due to their versatility and performance properties. PU's ability to provide cushioning, support, and flexibility makes it an ideal choice for footwear manufacturers seeking to meet the comfort requirements of modern consumers. Additionally, PU can be molded into various shapes and designs, allowing for the creation of stylish and trendy footwear options.

Threat:

Environmental concerns

PU production involves the use of chemicals that can emit volatile organic compounds (VOCs) during manufacturing, contributing to air pollution and environmental degradation. Additionally, PU products may release harmful substances over time, posing risks to human health and ecosystems. Concerns about PU's non-biodegradable nature and potential for landfill accumulation further exacerbate environmental apprehensions. Regulatory measures aimed at reducing emissions and promoting sustainable practices in manufacturing impose additional compliance costs on PU producers, impacting profitability.

Covid-19 Impact

Lockdowns, reduced consumer spending, and factory closures affected production and sales of footwear, impacting the PU sole market. However, as restrictions eased, the market gradually recovered due to pent-up demand, increased focus on comfortable and durable footwear for remote work and outdoor activities, and growth in e-commerce sales. Manufacturers adapted by implementing safety measures, accelerating digitalization, and diversifying product offerings. Overall, while COVID-19 initially posed challenges, the PU sole market showed resilience and adapted to the changing landscape.

The methylene diphenyl diisocyanate (MDI) segment is expected to be the largest during the forecast period

The methylene diphenyl diisocyanate (MDI) segment is estimated to have a lucrative growth, as methylene diphenyl diisocyanate plays a crucial role in determining the physical and mechanical properties of PU materials, including flexibility, durability, hardness, and resilience. Variations in methylene diphenyl diisocyanate formulations or quality can affect the performance characteristics of PU soles, leading to differences in comfort, wear resistance, and overall product quality. Manufacturers may need to carefully select methylene diphenyl diisocyanate grades and optimize formulation recipes to achieve desired performance attributes in PU sole products.

The work & safety footwear segment is expected to have the highest CAGR during the forecast period

The work & safety footwear segment is anticipated to witness the highest CAGR growth during the forecast period, due to the need to meet specific safety standards and regulations to ensure the protection of workers in hazardous environments. Polyurethane soles can be engineered to meet these requirements, including slip resistance, electrical hazard protection, puncture resistance, and more. Employees who spend long hours on their feet require footwear that offers adequate cushioning, support, and shock absorption to reduce fatigue and minimize the risk of foot-related injuries..

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's large and growing population, coupled with the expanding middle class, provides a sizable consumer base for footwear products. In addition fashion-conscious consumers in Asia Pacific drive demand for footwear that combines style with functionality. Polyurethane soles are favoured for their versatility, allowing designers and brands to create trendy and comfortable footwear offerings.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to consumers in North America increasingly prefer footwear that offers comfort, performance, and durability. Polyurethane soles meet these requirements, driving their demand in the region. Moreover manufacturers are continuously innovating to develop advanced polyurethane formulations that enhance the performance and aesthetics of footwear. This includes the incorporation of features such as enhanced cushioning, energy return, and slip resistance.

Key players in the market

Some of the key players in the Polyurethane (Pu) Sole Market include Asahi Kasei Corporation, Coim Group, BASF SE, Dow, Covestro AG, INOAC CORPORATION, Huntsman International LLC, Era Polymers Pty Ltd, Manali Petrochemicals Limited, LANXESS, Kasodur, Cellular Mouldings., The Lubrizol Corporation, Trelleborg AB , Wanhua, Bkind Polymers LLP, VCM Polyurethanes Pvt. Ltd., Perstorp AB, and Airysole Footwear Pvt Ltd.

Key Developments:

In April 2024, BASF expands its offering for sustainable food production: Its certified compostable biopolymer ecovio(R) can now also be used to manufacture black twines used to grow annual fruit and vegetables in commercial greenhouses. The grade ecovio(R) T 2206 is certified industrial compostable according to EN13432.

In April 2024, Vattenfall and BASF sign purchase agreement for 49 percent of Germany's Nordlicht offshore wind farms. The two companies are deepening their partnership in the field of renewable energy

In February 2024, Covestro has published its climate neutrality targets for scope 3 emissions, completing its climate strategy for reducing greenhouse gas emissions. As a short-term goal, the company plans to reduce greenhouse gases by 10 million metric tons by 2035.

Types Covered:

• PU Foam
• PU Adhesives
• Other Types

Raw Materials Covered:

• Toluene Diphenyl Diisocyanate (TDI)
• Methylene Diphenyl Diisocyanate (MDI)
• Polyols

Distribution Channels Covered:

• Offline Retail
• Online Retail
• Wholesale & Distributors
• Other Distribution Channels

Applications Covered:

• Casual Footwear
• Sports Footwear
• Formal Footwear
• Work & Safety Footwear
• Slippers & Sandals

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Polyurethane (Pu) Sole Market, By Type

• 5.1 Introduction
• 5.2 PU Foam
• 5.3 PU Adhesives
• 5.4 Other Types

6 Global Polyurethane (Pu) Sole Market, By Raw Material

• 6.1 Introduction
• 6.2 Toluene Diphenyl Diisocyanate (TDI)
• 6.3 Methylene Diphenyl Diisocyanate (MDI)
• 6.4 Polyols

7 Global Polyurethane (Pu) Sole Market, By Distribution Channel

• 7.1 Introduction
• 7.2 Offline Retail
• 7.3 Online Retail
• 7.4 Wholesale & Distributors
• 7.5 Other Distribution Channels

8 Global Polyurethane (Pu) Sole Market, By Application

• 8.1 Introduction
• 8.2 Casual Footwear
• 8.3 Sports Footwear
• 8.4 Formal Footwear
• 8.5 Work & Safety Footwear
• 8.6 Slippers & Sandals

9 Global Polyurethane (Pu) Sole Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Asahi Kasei Corporation
• 11.2 Coim Group
• 11.3 BASF SE
• 11.4 Dow
• 11.5 Covestro AG
• 11.6 INOAC CORPORATION
• 11.7 Huntsman International LLC
• 11.8 Era Polymers Pty Ltd
• 11.9 Manali Petrochemicals Limited
• 11.10 LANXESS
• 11.11 Kasodur
• 11.12 Cellular Mouldings
• 11.13 The Lubrizol Corporation
• 11.14 Trelleborg AB
• 11.15 Wanhua
• 11.16 Bkind Polymers LLP
• 11.17 VCM Polyurethanes Pvt. Ltd.
• 11.18 Perstorp AB
• 11.19 Airysole Footwear Pvt Ltd