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(Health-NewsWire.Net, September 07, 2021 ) Market Overview
Polyurethane soles, popularly called PU Sole (Footwear Polyurethane), are crafted from a new form of natural polymer material. It has been hailed as the 5th massive plastic and is in the manner of revolutionizing the shoe enterprise. PU Sole (Footwear Polyurethane) has decrease density than other soles together with a soft texture and high elasticity. This makes it best for foot consolation. It no longer only gives brilliant wear and tear resistance but also has true bending resistance and excessive hardness along with terrific shock absorption. PU insoles offer the user with the flexibility, consolation, and durability essential for the commonplace daily use of someone.
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Market Dynamics
Increasing boom in footwear sales and manufacturing and Superior residences of polyurethane as shoe sole cloth are the most important driving factors for the boom of the market. The countries hold to step up its footwear exports, whilst it absorbs a number of the commercial enterprise shifting far from China. In 2018 Vietnam's exports crossed the USD sixteen million thresholds and growth reached double-digit. According to Lefaso, the Vietnam Leather, Footwear and Handbag Association, in 2018 Vietnam exported USD 16.24 billion worth of shoes, a ten.5% increase over 2017.
According to the cutting-edge edition of the World Footwear Yearbook, in 2017 Vietnam produced 1.1 billion pairs of shoes (a proportion of four.7% in worldwide production), taking the third position as the biggest producing u . S .. In 2017 Vietnam became the second one-biggest exporter of shoes with a 7.1% proportion (1.0 billion pairs) at the back of China (nine.7 billion pairs; sixty seven.Five%).
The harmful impact on human health and the environment is a major restraint hampering marketplace increase globally.
Market Segmentation
By Raw Material
• Polyols
• Methylene Diphenyl Diisocyanate
By Footwear Type
• Slippers & Sandals
• Work & Safety
• Sports
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Geographical Analysis
The Asia Pacific PU Sole (Footwear Polyurethane) market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Asia Pacific is expected to grow with high CAGR rate in the forecast period owing to the consumer spending and growing production of footwear from countries such as China, India, Indonesia, Bangladesh, and Vietnam. China, Vietnam, and India are estimated to grab the major market share for PU Sole (Footwear Polyurethane) market in Asia Pacific region due to the huge population and high demand for sports and casual footwear.
Global companies are concentrating to extend their market by investing and opening new footwear development centers in Asia Pacific. For instance, in July 2019, BASF has announced new investments to strengthen its global footwear presence opening new Footwear Development Centers in Thailand, launching a Footwear Innovation Center in Taiwan.
Competitive Landscape
The PU Sole (Footwear Polyurethane) market is competitive with existing players in the market. Some of the major players include Jasch International Limited, Era Polymers, Coim Group, Eurofoam Group, Vcm Polyurethanes, Manali Petrochemicals, BASF SE, Huntsman, Covestro and Inoac Corporation.
The key players are adopting key strategies such as product launches, which are contributing to the growth of the PU Sole (Footwear Polyurethane) Market.
For more than forty years, BASF has been developing, producing, and selling custom-tailored polyurethane systems and thermoplastic polyurethane elastomers (TPU) for making all types of soles. Elastopan® and Elastollan® are the two innovative PU materials for all types of soles and all kinds of shoes.
In February 2018, BASF has announced that they are planning to launch Elastopan ULD polyurethane slipper sole systems at Simac, a footwear technology and machinery tradeshow.
Related Topic's
Fiber Reinforced Polymer Market, Hydrogenated Styrene Block Copolymers Market, Blood Compatible Polymers Market, Polymer Stabilizer Market, Polymers for 3D Printing Market
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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