Global Footwear Adhesives Market: Synopsis
While manufacturing footwear, specific footwear adhesives need to be used in order to stick and bond different footwear components together in a cohesive manner. A considerable rise in high fashioned footwear has caused a substantial increase in the demand for footwear adhesives, thus positively affecting its market. The report published by Transparency Market Research extensively covers various details of this market, along with factors such as prominent drivers and trends, regional market growth, leading market segments, competitive outlook, and several others aspects.
Based on the report, the footwear adhesives market could be segmented on the basis of product type and region. By considering the product type, the market is divided into four segments viz. hot melt adhesives, water borne adhesives, natural rubber adhesives, and solvent-based adhesives. Amongst these segments, the demand for hot melt adhesives is significantly higher in the market as they provide a lot of strength as well as sturdiness to the finished product.
Global Footwear Adhesives Market: Prominent Drivers and Restraints
Recent developments possible due to a lot of experimentation carried out by market players is one of the most significant drivers of the global footwear adhesives market. One of these developments involves the use of water-based footwear adhesives while manufacturing the products. The increasing demand for international brands amongst the masses is also a noteworthy factor that is positively affecting the global footwear adhesives market. This is mainly due to the good quality and standard adhesives used in popular and internationally acclaimed brands, which make the products last longer and provide high strength. A rise in sports activities has also triggered a positively inclining graph of the global footwear adhesives market. All these factors are described in the recently added report by TMR.
The report also describes some of the major restraints associated with the global adhesives market. One of the most significant obstacles to the market’s growth is the high cost of raw materials that are needed while operating the manufacturing processes of adhesives. The second hindrance deals with diseases like the shoemaker’s paralysis that may occur if a person gets exposed to harmful gases that may be released from footwear adhesives manufacturing. Such obstacles may significantly hamper global footwear adhesives market growth. However, many efforts are being taken to reduce the costs by introducing other substitute chemicals in the manufacturing processes, which may also reduce the chance of causing health risks.
Global Footwear Adhesives Market: Regional Outlook
Based on a regional perspective, the global footwear adhesives market is spread across Latin America, the Middle East and Africa, Europe, North America, and Asia-Pacific. Of all these geographical extents, the Asia-Pacific region held a major share in the market. The main reason for this involves several factors such as improvement in standard of living, rise of disposable income and an overall increase in awareness of buying good quality footwear. Emerging countries such as China, Japan, and India are anticipated to experience a strong market growth. Compared to the Asia-Pacific region, the countries based in North America and Europe are expected to show a moderate footwear adhesives market growth. Other countries such as Mexico and Brazil are anticipated to exhibit a significant market share in the future.
Global Footwear Adhesives Market: Competitive Landscape
With respect to product innovation, availability of new materials, and an increase in the number of investments put by businesses, the global footwear adhesives market is expected to experience a rapid surge in the next few years. Many of the competitors in this market have been well-established since many years, which is a big bonus for industry mainly due to the experience they bring in for further development. Some of the key players in the global footwear adhesives market are: Eastman Chemical Company, H.B. Fuller, Jubilant Industries Ltd., Bostik Ltd. KECK Chimie, and Great Eastern Resins Industrial Co. Ltd., amongst many others.
Key segments of the footwear adhesives market are:
By Product Type
- Hot melt adhesives
- Solvent-based adhesives
- Water borne adhesives
- Natural rubber adhesives
- Latin America
- Middle East and Africa
- North America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.