FOOTWEAR SOLE MATERIAL MARKET ANALYSIS

Market Challenges And Opportunities

Global Footwear Sole Material Market- Growth Drivers

• Increase in the disposable income of the middle-class family

Increase in the disposable income of the middle-class family is projected to drive the market growth of footwear sole materials over the forecast period. Increasing industrialization and urbanization across the developing region have led to the rise of disposable income, which in turn, is projected to fuel the demand for footwear over the forecast period.

• Increasing participation of consumers in sports and fitness-related activities

Increasing participation of consumers in sports and fitness-related activities due to increasing health-conscious people is projected to augment the market growth of the footwear sole material. Shifting preferences of consumers towards outdoor activities such as hiking, running, and cycling is also contributing to the growth of the footwear sole material.

Global Footwear Sole Material Market- Restraints

• Slow adoption rate of the advanced technologies

Slow adoption rate of the advanced technologies for the production of the footwear sole is expected to restrict the market growth over the forecast period. High cost and technical issues are some of the major factors inhibiting the adoption of advanced technology thus hampering the market growth. Moreover, the increasing demand of the non athaletic applications across the globe is expected to boost the demand of the gootware sole material market in the upcoming forecast period.

• Negative environmental effects when shoe soles are discarded

The materials used to make the shoes have an unbreakable connection to the environmental effects of shoe degradation in landfills. When disposed of in landfills, numerous petroleum-based compounds used to make athletic shoes, such as EVA, severely pollute the environment and cause water bodies to become contaminated. The footwear might take up to thousands of years to naturally decay when disposed of in landfills. Athletic shoe midsoles made of EVA show little to no biodeterioration after 12 years of contact with damp soil. Furthermore, the increasing demand of the bio- based materials is expected to increase  the demand of the gootware sole material market in the upcoming forecast period.

Global Footwear Sole Material Market- Opportunities

• The market of footwear is penetrating into women segments

The market of footwear is penetrating into women segments owing to the rising number of women participating in outdoor activities. This is expected to open new doors of opportunity to the market of the footwear sole. Moreover, an increasing number of working women is also expected to augment the market growth.