Future Market Insights
Footwear adhesives are of significant importance in the manufacturing of footwear. Their primary use is in the principle area of sole attachment. Footwear adhesives present a more conventional solution for sticking soles and other parts of footwear over traditional methods, such as stitching and pinning. The up-heave in demand for high fashioned footwear is anticipated to have a major influence on the overall footwear adhesives market throughout the forecast period. Footwear adhesives are sticky in nature, exhibit high-quality bedding properties, and are considered to be rock-solid sealants. Properties, such as moisture curing, thermal coefficient of expansion and resistance to multiple elongations under various loads have created remarkable opportunities for the footwear adhesives market across the globe.
Footwear adhesives can be customized as per the industrial requirement. The increasing demand for footwear adhesives as sealants has led to significant growth opportunities in a number of countries. Relatively durable and high-performing material footwear adhesives offer strength to footwear, with efficient workability.
Special care is taken in footwear industries to modify practices in the manufacturing of footwear adhesives to avoid its hazardous effects on manpower. On this note, manufacturers are expected to incline towards the usage of water-based footwear adhesives over solvent-based ones over the forecast period.
The useful applications of footwear adhesives make the study of this market an important read.
Footwear Adhesive Market: Drivers and Restraints
Attributing to convenience in use, footwear adhesives are expected to witness noteworthy growth in the global footwear industry. Recent developments have introduced water-based footwear adhesives in the market; they are formulated as environment-friendly substitutes for traditional footwear adhesives. Manufacturers are expected to replace solvent-based footwear adhesives with water-based ones, owing to growing health concerns among consumers. Further, water-based footwear adhesives offer vital improvement in terms of economy and efficacy to industries.
Increase in the demand for various international brands, along with ever changing fashion trends in regions, such as the U.S. and Europe has proven to be a prominent driver for the footwear adhesives market. Rising demand for high performance footwear, such as sportswear, and protective shoes, among others is expected to gain significant prospects for the footwear adhesives market in the coming future.
However, high cost of raw material in the manufacturing of footwear adhesives could impede growth of the market. Addition of new polymer materials in producing uppers and soles for footwear has led to bond failure, due to the introduction of plasticizers in adhesives films.
Attributing to rising environmental concerns, several governments are taking measures in their respected countries to curb diseases, such as shoemaker’s paralysis, which is caused due to exposure to harmful gases released in the manufacturing process of footwear adhesives. Such measures may affect growth of the market over the forecast period.
Footwear Adhesives Market: Segmentation
The footwear adhesive market can be segmented on the basis of product type:
Solvent based footwear adhesives
Water based footwear adhesives
Radiation cured (UV/EB) footwear adhesives
Hot melts footwear adhesives
Footwear Adhesives Market: Region-Wise Outlook
Geographically, the Asia Pacific region holds a remarkable share in the production of footwear. Emerging countries, such as India, China, and Japan are expected to witness sturdy growth in the footwear adhesives market. Whereas, developed countries, such as those in North America and Europe are expected to exhibit moderate growth in the market. Countries in Latin and Central America, such as Brazil and Mexico are expected to hold a fair share of the market in the coming future. A major shift of footwear manufacturers from Vietnam to Bangladesh and China for economic production has switched the focus of footwear adhesive industries towards these regions.
Footwear Adhesives Market: Market Participants
Examples of some of the market participants in the footwear adhesives market, identified across the value chain are:
Jubilant Industries Ltd.
Henkel (China) Investment Co. Ltd.
Chadha Corporation Pvt. Ltd.
Eastman Chemical Company
Chemical Technology Pty Ltd.
Great Eastern Resins Industrial Co. Ltd.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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