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.
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Key Takeaways:
- 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.
Growth Drivers:
- 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.
Restraints:
- 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.
Competitive Landscape:
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
- NYATEX
- SwissFlock AG
- Arkema
- H.B. Fuller Company
- Dow
- 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:
By Application:
- Automotive
- Textiles
- Paper & Packaging
- Others
By Resin Type:
- Acrylic
- Polyurethane
- Epoxy
- Others
By Region:
- North America
- Europe
- Asia-Pacific
- 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?
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