Press release
Flock Adhesives Market to Garner $2.9 Billion, Globally, By 2027 at 5.70% CAGR, Says Allied Market Research
Allied Market Research published a report, titled, "Flock Adhesives Market by Resin Type (Acrylic, Polyurethane, Epoxy Resin, and Others) and Application (Automotive, Textiles, Paper & Packaging, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027."According to the report, the global flock adhesives industry was estimated at $1.9 billion in 2019, and is anticipated to hit $2.9 billion by 2027, registering a CAGR of 5.70% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in use of flock adhesives in main stream applications and upsurge in utilization of flock adhesives in sectors such as packaging, cosmetics, and furniture drive the growth of the global flock adhesives market. On the other hand, health hazards related to inhalation of flock adhesives impede the growth to some extent. However, mounting demand for flock adhesives in the packaging sector is expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
• Increase in use of flock adhesives for manufacturing covid-19 testing kits impacted the global flock adhesives market positively.
• Swab collection kits that are flocked with adhesives provide superior specimen collection rate and dwindles the risk of false negative diagnosis result. This factor has boosted the market growth.
The acrylic segment to retain its dominance by 2027-
Based on resin type, the acrylic segment accounted for more than one-third of the global flock adhesives market share in 2019, and is expected to lead the trail by the end of 2027. This is attributed to its water resistance capability. The polyurethane segment, on the other hand, would register the fastest CAGR of 6.40% throughout the forecast period. Its properties such as VOC & formaldehyde free, stability, and enhanced dry & wet wipe resistance fuel the segment growth.
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The textile segment to retain its dominance by 2027-
Based on application, the textile segment contributed to more than two-fifths of the global flock adhesives market revenue in 2019, and is anticipated to rule the roost by 2027, due to rising adoption of flock adhesives in natural and synthetic fabric. Simultaneously, the automotive segment would exhibit the fastest CAGR of 6.80% from 2020 to 2027, owing to rise in use of flock adhesives for manufacturing of glove boxes, sun visors, headrests, and others.
Asia-Pacific, followed by Europe and North America, garnered the major share in 2019-
Based on geography, Asia-Pacific, followed by Europe and North America, held the highest share in 2019, generating more than two-fifths of the global flock adhesives market. The same region would also manifest the fastest CAGR of 6.40% during the forecast period. This is due to rise in number of automotive and textile manufacturers in China and India.
Frontrunners in the industry-
• Kissel + Wolf
• Sika Automotive
• Lord Corporation
• Stahl
• Avient
• Nyatex
• Swiss Flock
• Dow Chemical
• CHT Germany GmbH
• H.B. Fuller Company
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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