Sep 05, 2022, 08:00 ET
China to Vanguard the Sales in East Asia Flock Adhesives Market; India to Lead the Rally in South Asia
This report by Fact.MR sheds light on the current market scenario of flock adhesives and factors driving the growth in the upcoming decade. It also presents insightful information about growth drivers, restraints, competitive landscape and recent developments across essential segments including types of resin, applications and region.
NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The global flock adhesive market is anticipated to reach a valuation of US$ 4.6 billion by 2032, at a CAGR of 5.5% during the evaluation period from 2022 to 2032. Application of flock adhesives in paper, textile, and automotive sectors to join materials such as metals, plastics, and rubber is the key factor driving the demand.
As these adhesives are also environment friendly because they don't emit any harmful particles, adoption in diverse industries has surged, as per the study. Epoxy resin is considered to be the most preferred resin for flock adhesives as it is biodegradable. Hence, the demand for epoxy resin flock adhesives is projected to surge at a robust pace over the forecast period.
Further, automotive industry is expected to be the most prominent segment driving the growth of flocking adhesives. These adhesives are increasingly being used in car interiors due to the stringent regulations pertaining to the use of plastic. Along with the automotive industry, flocking adhesives are also used in industrial manufacturing, cosmetics, home, packaging, and textile.
As of now, North America is the key producer of flock adhesives, opines Fact.MR. The demand for these adhesives is predicted to rise in the U.S., as it is home to one of the world's largest automotive and textile industries.
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Additionally, the U.S. textile manufacturers are consistently experimenting to create next-generation textile materials such as conductive fabric with antistatic properties. They are also focusing to develop electronic textiles with abilities to monitor heart rate and other vital signs, antimicrobial fibers, lifesaving body armor, and fabrics that adapt to the climate. This is expected to create a conducive environment for the manufacturers.
Moreover, the need for flock adhesives is also estimated to rise in Asia-Pacific due to growing demand for lightweight and low-carbon-emitting automobiles. Asia-Pacific is projected to be a leading player in flock adhesives market. According to the study, China is anticipated to scale new heights in the next decade, followed by India.
With expansion of packaging industry in India coupled with growing sustainability concerns, adoption of epoxy resin flock adhesives is predicted to burgeon in India's packaging industry. On the back of this, Asia Pacific is expected to contribute nearly 1/5th of revenue in the global market by 2022.
- Top 2 flock adhesive manufacturers are expected to account for approximately 33.4% market share.
- Demand for flock adhesives is poised to surge by 2.6x between 2022 and 2032.
- In the last five years, global consumption of flock adhesives increased at a CAGR of about 6.3%.
- Asia-Pacific is expected to be the most remunerative flock adhesives market, with China leading the growth.
- India is expected to be a lucrative market for flock adhesives, spearheading the growth in South Asia through 2022 & beyond.
- In terms of resin type, epoxy resin flock adhesives segment is expected to witness positive growth at 5.3% CAGR during the assessment period.
- Based on application, automotive industry is expected to witness fastest growth over the forthcoming decade.
- Diverse applications in automotive industry, especially in car interiors to adhere to the mandatory emission standards will boost the market.
- Rapid expansion of next-generation textile manufacturing is anticipated to create incremental growth opportunities for the key players.
- Surging adoption of lightweight vehicles coupled with rising focus to curb the carbon emission will provide impetus to the growth in the market.
- High maintenance costs may prevent widespread adoption of flock adhesives in the low- and middle-income countries.
- Harmful fumes might cause an adverse effect due to inhalation of these adhesives. This might impede the growth.
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As per the study, the market is expected to be consolidated with two leading players dominating the space. To gain a competitive edge, several key players are adopting market strategies such as mergers and acquisitions. They are also collaborating with end users and leading e-commerce giants to expand their customer base.
Some of the recent developments are:
- In April 2020, CHT Group announced that it has started using flock adhesives for the production of COVID -19 test strips. The company also demonstrated other possible benefits of these adhesives. They are suitable for application by dipping, suitability for electrostatic support, high availability, faster delivery, and tested quality.
Key Companies Profiled by Fact.MR
- Sika AG
- CHT Group
- SwissFlock AG
- H.B. Fuller Company
- PARKER HANNIFIN CORP
- Henkel AG & Co. KGaA
- Stahl Holdings B.V
- Avient Corporation
- Kissel + Wolf GmbH
- NANPAO RESINS CHEMICAL GROUP
More Valuable Insights on Flock Adhesives Market
In the latest study, Fact.MR offers a detailed study on flock adhesives market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of flock adhesives through detailed segmentation as follows:
- Paper & Packaging
By Resin Type:
- North America
- Latin America
- Middle East & Africa
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Key Questions Covered in the Flock Adhesives Market Report
- What is the projected value of the flock adhesives market in 2022?
- At what rate will the global flock adhesives market grow until 2032?
- Which are the factors hampering the growth in the flock adhesives market?
- Which region is expected to lead in the global flock adhesives market during 2022-2032?
- Which are the factors driving the flock adhesives market during the forecast period?
- What is the expected market value of the flock adhesives market during the forecast period?
Explore Fact.MR's Coverage on the Chemical & Materials Domain
Flock Binder Market: As per Fact.MR, the global flock binder market is forecast to witness absolute growth at a higher digit CAGR between 2020 and 2030. Flock binder is a chemical composition of "self-cross linking acrylic copolymer" polymers which are flocked and then bonded onto a destination material such as cardboard or cloth using high voltage.
Structural Adhesives Market: The demand in structural adhesives market is poised to expand at a CAGR of 6.7% between 2022 and 2032. Sales in the market are expected to reach US$ 14.74 billion in 2022 and surpass US$ 28.2 billion by the end of 2032.
UV Cured Adhesives Market: Demand in the UV cured adhesives market surged at a CAGR of 6.7% over the past half-decade. Growth in the market is underpinned by rising application in electronics and medical sectors.
Check it Out More Reports by Fact.MR on Chemical Industry
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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