PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1747497
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1747497
Footwear Sole Material Market is estimated to be valued at USD 24.85 Bn in 2025 and is expected to reach USD 33.14 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 24.85 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 4.20% | 2032 Value Projection: | USD 33.14 Bn |
Key Takeaways
Footwear sole material is produced from various materials such as PVC, rubber, PU, vulcanized rubber, and leather. Footwear provide comfort and a wide range of performance for outdoor activities. PVC and rubber are two common materials used for the manufacturing of the shoes as they provide ideal synthetic materials over traditional leather. Moreover, they are a more cost-effective solution for the manufacturing of footwear such as shoes, boots, slippers, sandals, and sneakers.
The rising trend of using polyurethane as a sole material in the manufacturing of athletic shoes in order to offer hard-wearing performance to athletes is expected to augment the market growth of footwear sole materials. The polyurethane-based midsole offers cushioning feel which reduces the chance of muscle injury and is also durable and lighter than rubber. This is expected to foster the market growth of footwear sole materials.
Rising demand for branded shoes due to improving the living standard is expected to favour the market growth of footwear sole. Additionally, rising research activities to develop cost-effective and new sole material with improved properties is further anticipated to accelerate the market growth of the footwear sole.
Intense competition in the market of footwear sole due to the presence of a large number of players is acting as an entry barrier for the new players. This is expected to restraint the market growth of the footwear sole material in the near future.
The increase in middle-class population is predicted to have positive effects on the global footwear business. Modern and fashionable footwear is always in demand. The demand for fashionable, cosy, and branded footwear among customers of all ages will drive the global footwear Sole Material market.
Market Segmentation: