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Flock Adhesive Market Outlook, Key Market Drivers, Overview, Share And Report 2024 - 2033
Flock Adhesive Market Outlook
According to The Business Research Company's, The flock adhesive market size has grown strongly in recent years. It will grow from $2.51 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to urban congestion, advancements in electric propulsion, autonomous vehicle technology, rapid technological innovation, investment and industry interest
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The flock adhesive market size is expected to see strong growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing investment in research and development, growing demand for zero-emission transportation, expansion of the market, advancements in autonomous flight technology, reduced travel times and environmental benefits. Major trends in the forecast period include investment in research and development, market growth, innovative products offering, environmental concerns
.
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Market Drivers and Trends:
The growing textile industry is expected to propel the growth of the flock adhesive market going forward. The textile industry refers to the industry that encompasses activities ranging from research, design, and manufacturing of textiles, fabrics, and clothing. Flocking adhesives that use non-toxic, water-based, and recycled fibers are used for the decorative textile finishing process that involves applying tiny fibers, called a flock, to a surface to create a soft, velvety texture. For instance, in September 2022, according to the State Council of the People's Republic of China, a China-based governing protected site, from January to July 2022, primary textile retailers collectively recorded sales of ¥ 9.48 trillion ($1.30 trillion), reflecting a 1.7% increase compared to the same period last year in China. Additionally, clothing exports amounted to $189.4 billion, representing a year-on-year rise of 12.4% nationwide. Therefore, the growing textile industry is driving the growth of the flock adhesive market.
Major companies operating in the flock adhesive market are increasing their focus on developing recyclable and compostable adhesives to gain a competitive edge. Water-borne flock adhesives are adhesive formulations that primarily consist of water as the solvent or carrier medium designed for flocking, where they bond small, fine flock fibers to a surface to create a textured or velvety finish. Solventless flock adhesives are adhesive formulations that do not contain volatile organic solvents as a carrier medium and are used in the flocking process to bond flock fibers to various surfaces. For instance, in April 2021, H.B. Fuller, a US-based provider of flexible packaging adhesive, launched two new adhesive solutions that are compostable: extra Evolution SF1000CP/XR2000CP, a solventless adhesive suitable for various biodegradable films and Flextra Evolution WB1200CP/XR2200CP, water-based system ideal for paper-to-film laminations. Both adhesives are compostable, with the latter being certified by North America's BPI. These adhesives are comparable to traditional multi-layer packaging adhesives, offer better print quality, and integrate well with standard equipment.
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Major Key Players of the Market:
Major companies operating in the flock adhesive market report are Dow Inc., Henkel AG & Co. KGaA, Parker Hannifin Corporation, Avery Dennison Corporation, Wacker Chemie AG, H.B. Fuller Company, Avient Corporation, Ashland Global Holdings, Sika AG, LORD Corporation, CHT Germany GmbH, Paramelt BV, Stahl Holdings B.V., Franklin International Inc., Argent International Inc., Kiwo Inc., International Coatings Company Inc., Anhui Sinograce Chemical Co. Ltd., Nyatex Adhesive and Chemical Co., SwissFlock AG, Schuster Beflockung GmbH, VIRUS Inks, Flock It, Parker Hannifin Corporation, Anhui Dowell Huatai New Materials Co. Ltd., Chemproof Chemicals Company, and Flocking Ltd.
Flock Adhesive Market 2024 Key Insights:
• The flock adhesive market is expected to grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Expanding Textile Industry Fuels Flock Adhesive Market Growth
• Introduction Of Environmentally Friendly Flocking Adhesive Composition To Gain A Competitive Edge In The Market
• North America was the largest region in the flock adhesives market in 2023
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