(EMAILWIRE.COM, August 25, 2022 ) The “PU sole (Footwear Polyurethane) Market size is estimated to be USD 4.2 billion in 2019 and projected to reach USD 5.9 billion by 2024, at a CAGR of 7.6%. Polyurethane is used in footwear soles to provide the perfect combination of ergonomics, microclimate, and comfort. The superior properties of polyurethane as shoe sole material, growth in footwear sales, and increasing production in the growing economies are expected to drive the PU sole (footwear polyurethane) market.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141590067
Casuals is the largest footwear segment 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 the developing economies because casual footwear offers a wide range of performance for outdoor activities. Loafers, sneakers and flats are some of the types of casual footwear available in the market.
Increasing footwear production and salesthe major driver of the PU sole (footwear polyurethane) market.
APAC is estimated 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 increased production of footwear in countries, such as China, India, Indonesia, and Vietnam. China is projected to be the largest market for PU sole (footwear polyurethane) in the APAC region. Indonesia is estimated 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 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.
Don’t miss out on business opportunities in PU sole (Footwear Polyurethane) Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=141590067
Browse in-depth TOC on “PU sole (Footwear Polyurethane) Market
118 – Market Data Tables
40 – Figures
130 – Pages
The key companies profiled in the PU sole (footwear polyurethane) market report are 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).
BASF (Germany) is a chemical company having presence in more than 80 countries. The company operates through six business segments, namely, chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. It has 13 operating divisions and 86 strategic business units. In January 2018, BASF established a new MDI synthesis unit in Geismar, Louisiana. The annual capacity of MDI production of the production facility will increase from 300,000 metric tons to 600,000 metric tons. This expansion enabled the company to enhance its presence in North America.
Covestro (Germany) manufactures high-tech polymer materials and also develops many other consumer products. The company operates through three major business segments, namely, polyurethanes; polycarbonates; and coatings, adhesives, and specialty. In June 2018, the company increased its Thermoplastic Polyurethane (TPU) production capacity at its West Virginia (US) plant. This expansion will increase Covestros annual production capacity of TPU by 25.0%, which in turn, will help the company to expand its footprint, globally.
Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=141590067
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the Growth Engagement Model GEM. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write Attack, avoid and defend strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, Knowledge Store connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.