The PU Sole (Footwear Polyurethane) Market size was valued at USD 5.89 billion in 2023. The global market size is expected to reach USD 10.94 billion by 2032 from USD 6.31 in 2024. It is anticipated to grow at a 7.12% CAGR to reach close to USD 8.9 Billion by 2032.
The PU Sole (Footwear Polyurethane) Market is a medium-sized global market that is mainly concentrated in the Asia Pacific region. The PU sole/ Footwear Polyurethane market is calculated to reach a total of USD 5.78 billion by the end of 2023 at a decent CAGR of 5.12 %. Mondial Suole, an Italian shoe manufacturer, has launched a new range of shoe soles under the name iTen, which are designed for a variety of walking conditions. Their new product is powered by the ENERLYTE polyurethane elastomer by DOW Company and has unique features like lightweight, durability, soft touch, and high energy return.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
7.12% |
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Segments Covered |
By Footwear Type, Raw Material, and By Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Market Leaders Profiled |
ASF SE (Germany), DAMAN Textiles (India), Dow DuPont (US), MarvelVinyls (India), Coim Group (Italy), United Decoratives Private Limited (India), Huntsman (US), Jasch International Limited (India), Covestro (Germany), Natroyal Industries Pvt. Ltd. (India), Wanhua Chemical Group (China), Nirmal Fibres Pvt. Ltd. (India) |
Among the mentioned types of footwear, the leisure footwear segment is anticipated to witness the highest growth rate in the forecast period. The footwear which is worn on a daily basis is leisure footwear or in general, terms called casual wear. These casual wear include loafers, flats (flip-flops), and sneakers which are currently made with a synthetic polyurethane sole to provide it a better quality performance, flexibility, durability, and comfort for outdoor activities.
This segment had the largest market share in the year 2020, due to its wide range of utilization in footwear manufacturing.
The market in regions such as North America and Europe is in no comparison with the Asia Pacific. The regional advantage in the Asia Pacific, such as cheap labor and ease of resource availability, is the main reason for the concentration of the global market in the Asia Pacific region. This makes the region the leading producer of footwear polyurethane/ PU Sole in the world. The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the PU Sole (Footwear Polyurethane) Market in these regions is slow growing in nature.
BASF SE (Germany), DAMAN Textiles (India), Dow DuPont (US), MarvelVinyls (India), Coim Group (Italy), United Decoratives Private Limited (India), Huntsman (US), Jasch International Limited (India), Covestro (Germany), Natroyal Industries Pvt. Ltd. (India), Wanhua Chemical Group (China), Nirmal Fibres Pvt. Ltd. (India) are some of the notable companies in the global pu sole (footwear polyurethane) market.
Mondial Suole an Italian shoe manufacturer has launched a new range of shoe soles, under the name iTen, which are designed for a variety of walking conditions. Their new product is powered by the ENERLYTE polyurethane elastomer by DOW Company and has unique features like lightweight, durability, soft touch, and high energy return.
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