The footwear sole material market is broadly classified into various categories based on raw materials used such as polymer, rubber, and leather. Polymer-based footwear sole materials are lightweight, durable and comfortable. They provide enhanced shock absorption and cushioning properties. Rising demand for sports and fashion footwear along with changing consumer preferences towards lightweight and comfortable footwear have been fueling the sales of polymer-based footwear sole materials.

The Global footwear sole material market is estimated to be valued at US$ 65 Billion in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2032.

Key Takeaways
Key players operating in the footwear sole material market are BASF SE, Covestro, Dow Inc., Huntsman Corporation, Asahi Kasei Corporation.

Growing disposable incomes and fast-paced lifestyle of consumers are augmenting the demand for stylish and comfortable footwear. Rapid urbanization accompanied by rising health consciousness has been propelling the sales of sports shoes worldwide.

Asia Pacific currently dominates Footwear Sole Material Market Demand and is expected to witness the fastest growth during the forecast period on account of strong footprint of key manufacturers and rising middle-class population in China and India. Growing exports from Asian countries to Europe and North America is also fueling the market growth.

Market Drivers
Increasing participation in sports and fitness activities has boosted the demand for high-performance footwear. Sports shoes designed for running, tennis, basketball etc. require technologically advanced sole materials with improved cushioning and shock absorbing properties. This remains a key driver for the adoption of polymer and rubber-based footwear sole materials. Growing health awareness and changing consumer preferences towards convenient sporting goods continue to support the market growth.

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