Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"The Global Footwear Adhesives Market Is Expected to Grow at a CAGR of 5.6% to Reach a Market Value Of US$ 82.05 Bn by 2028."
A global footwear adhesives market is attributed to the growth in the footwear manufacturing industry. Due to advancements in the adhesives manufacturing processes, there is a growth in the usage of water-based footwear adhesives over solvent-based footwear adhesives in the global market. These water-based footwear adhesives are eco-friendly that has enhanced the growth of its market demand worldwide. Moreover, the footwear product manufacturing organizations are exponentially demanding the water-based adhesives. These organizations are employing these adhesives as a substitute for other types of footwear adhesives present in the market.
The significant rise in the demand for footwear adhesives can be attributed to increasing regulatory concerns across the world to curb the pollution caused by various synthetic products. Footwear adhesives are also befitting the customers in terms of their health hence the end-users are also highly demanding such footwear products that could have minimal or zero impact on the health. These kinds of adhesives also have a significant contribution to the manufacturing companies in terms of the economics of scale and performance over different substrates.
Recent developments have introduced innovative 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.
There is an increase in the demand for water-based adhesives among the international brands that are manufacturing the footwear products globally. Moreover, companies are manufacturing footwear products that are of wide range in order to cater to their offerings across various targeted customers as per the requirement. There is an increase in the high-performance footwear demand that have a significant contribution to the customer’s needs in the footwear market. Such a rise in the demand for a variety of footwear products such as sportswear, protective footwear, and high-performance footwear are being highly being utilized.
The footwear market is being currently focused on recycled materials in the manufacturing of these footwear which requires a good amount of footwear adhesives. Such factors are boosting the demand for footwear adhesive products which could have a strong performance over a variety of materials.
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.
Additionally, there is a high cost involved in the raw materials required to manufacture footwear adhesives. There are advanced materials being used in the manufacturing of footwear that had contributed to the failure in the bond between the materials and increased involvement of cost had led to the company's less market share.
Polyurethane is a Leading Segment of Global Footwear Adhesives Market:
The polyurethane segment has a significant growth in the footwear adhesives market. This adhesive has good properties such as its resistance towards extremities such as temperature, chemicals, stress and has a good bonding strength on various materials. The footwear adhesives have a good application because of its low curing time and normal room temperature, flexible and are having good bonding nature.
Though there is a need for high-performance footwear adhesives that could contribute to the adhesion between various materials which require suitable performance to bond these materials. These polyurethane footwear adhesives have a good bonding strength along with high peeling strength for the dissimilar materials of the footwear products. The footwear adhesives market is under high growth because of its fast adhesion on materials that would not only have good strength but also with high performance.
Moreover, the sizing process of these footwear adhesives is easy to operate and make adjustments as per the requirements of the footwear industry. the polyurethane footwear adhesives are hugely applied to the footwear materials because of their good nature of adhesion, resistance to the heat along with resistance to the water has a significant performance of these materials.
North America is a Leading Market for the Footwear Adhesives in the Global Platform:
The North America region has the largest customer base for the footwear market because of which the consumption of the footwear adhesives market is exponentially increasing. There is a substantial demand for the footwear adhesives market among the developing nations such as China and India that contributes to the high sale of footwear. There is a high contribution of footwear adhesives in the production of various kinds of footwear because of the high demand for footwear.
In terms of global market value, the US has its leading position encouraging the market to have good investments for the production of this footwear. Because of the presence of various companies the North American market could cater production of footwear adhesives in a cost-effective manner. There are various chemical companies that have a significant contribution to the production of these footwear adhesives in the market.
Another prominent region for the market of footwear adhesives market is Europe that could not only have a significant impact on the global footwear demand. This region is expected to propel its market demand for global footwear adhesives encouraging the global market demand.
The region has a large number of competitors which would contribute to the manufacturing of the footwear adhesives market. Moreover, there is a high market share of footwear manufacturers globally that would attribute to the manufacturing of footwear adhesives.
Key drivers of the footwear manufacturing industry are Henkel, Jubilant Industries, Chemical Technology Pty Ltd., H.B. Fuller, Artecola Quimica, Eastman Chemical Company, KECK Chimie, Bostik Ltd. Etc.
Key Segments of the Footwear Adhesives Market:
- Solvent-based footwear adhesives
- Water-based footwear adhesives
- Radiation cured (UV/EB) footwear adhesives
- Hot melts footwear adhesives
- Sports Shoes
- Dress Shoes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa