increasing demand for international footwear brands is driving the Footwear Adhesives Market
Technavio analyzes that the Footwear Adhesives Market is expected to grow at a CAGR of 3.9% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 501.2 million.There are various factors that contribute to the growth of the market. The Footwear Adhesives Market is experiencing significant growth due to the increasing demand for international footwear brands. Consumers are increasingly seeking high-quality, durable footwear, leading to a surge in demand for adhesives that can effectively bond various materials used in footwear manufacturing. These adhesives not only ensure the structural integrity of footwear but also contribute to their aesthetic appeal. As international footwear brands expand their presence in various markets, the demand for advanced adhesive solutions is expected to rise, driving market growth.
In the dynamic footwear industry, vendors provide water-based adhesives as a viable alternative to traditional solvent-based adhesives for various footwear applications. These adhesives cater to diverse footwear segments, including leather, synthetic, orthopedic, and athletic shoes. Water-based adhesives facilitate the assembly process, encompassing upper construction, bonding, toe cap and counter attachment, sole preparation, and sole assembly. Vendors employ advanced technologies to produce these adhesives, which consist of additives, polymers, and water. Suitable for both porous and non-porous substrates, water-based adhesives activate upon water evaporation or absorption by the substrate. This shift towards water-based adhesives aligns with evolving fashion trends, customized footwear demands, and the increasing popularity of e-commerce platforms.
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Footwear Adhesives Market Segmentation
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The Footwear Adhesives Market encompasses a range of adhesive solutions for attaching soles to high-fashioned footwear, serving various footwear categories such as sports shoes, dress shoes, athletic shoes, casual shoes, formal shoes, safety footwear, and lightweight footwear. Sealing agents are also included, ensuring resistance to elongations under dynamic loads. Adhesive options include solvent-based, water-based, radiation cured, and hot melt types. Fashion trends drive customized footwear production, with high-performance materials like polyurethane adhesives in demand. E-commerce growth accelerates market expansion.
The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals, including adhesives and sealants. These materials, such as sole attachment agents and high-performance materials for high-fashioned footwear, require dynamic load resistance and moisture curing capabilities. Technavio projects market expansion, driven by the increasing preference for specialty adhesives and sealants. These products offer superior resistance to elongations and are integral to the manufacturing of various industries, including footwear. The specialty chemicals market's growth is further fueled by the demand for solvent-based adhesives that cater to the need for high-performance materials in diverse applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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