Flock Adhesive Market Driven at 5.51% CAGR due to Growing Demand from Automotive, Textile Industries

Pune, India, December 12, 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on Global Flock Adhesive Market.

Flock Adhesives Market Highlights

The global flock adhesive market was valued at USD 2303.5 million in 2017 and is expected to rise to USD 4.61 Billion by 2030 at a CAGR of 5.51% from 2021 - 2030 (forecast period). The growing demand for flock adhesives in the automotive industry is likely to be the major driver for the global flock adhesive market over the forecast period. The market volume is predicted to expand at 5.51% CAGR over the forecast period.

Flock adhesives are used to produce a smooth, faultless finish in a substrate. Flock is a term used for a mass of short fibers cut from the substance that has to be pasted onto a substrate. The flock is electrostatically attached to the substrate with the help of flock adhesives. Millions of small strands are fired at the substrate, which results in an almost vertical alignment of the fibers due to the electric charge, producing a uniform and aesthetically pleasing arrangement. The flock adhesive technique produces a highly homogenous finish that can even be customized according to the specific requirements. Using longer, thinner fabrics produces a softer surface, whereas using shorter and thicker fibers results in a brush-like surface. They can also be easily painted and offer a fissure-free surface, which gives flock adhesives an advantage over existing adhesive and joining technologies.

The widespread applicability and customizability of flock adhesives has led to their widespread use in the industrial sector. It is highly useful in creating a smooth and uniform plain print over a wide range of substrates. This is the major driver for the global flock adhesives market. The market is likely to expect massive demand from the automotive sector owing to the need for aesthetically pleasing surfaces. This factor can play a major role in augmenting market growth thanks to increased purchasing power of consumers.

Segmentation:

By source, the global flock adhesive market is segmented into waterborne and solvent-borne adhesives. The waterborne segment accounted for 73.2% market share in 2017 thanks to the substrate being resistant to water. It is predicted to touch a valuation of USD 4.61 Billion by 2030. It can accumulate a demand of 823.7 thousand tons by 2030. Solvent-borne adhesives are likely to be the major contributor to the global flock adhesive market over the forecast period accounting significant revenue at 5.51% CAGR over the forecast period.

By application, the global flock adhesive market is segmented into automotive, textile, paper and packaging, printing, and others. The automotive industry, followed by the textiles industry, is likely to be the major application segment of the global flock adhesives market. This can be attributed to increasing use of these chemicals in bonding of various parts.

By type, the flock adhesives market is segmented into polyurethane, acrylic, epoxy, and others. Polyurethane is likely to be the major type of flock adhesives by 2030. It was valued at USD 1,178 million in 2017. It is predicted to exhibit a CAGR of 5.51% over the assessment period to touch USD 4.61 Billion by 2030. Acrylic can contribute to market volume of 411.2 thousand tons at a CAGR of 5.51% during the forecast period.

Regional Segmentation:

By region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America.

Asia Pacific dominated the global flock adhesive market in 2017 with a majority share and is likely to remain dominant throughout the forecast period. The growing automotive industry in Asia Pacific is likely to be a major driver for the global flock adhesive market over the forecast period. The textile industry growth in countries such as India and China can be a major driver for the flock adhesive market. Both of these factors are expected to thrust the APAC market volume to 610.3 thousand tons by 2023.

Europe is likely to be a major market for flock adhesives over the forecast period, mainly due to the steady demand from the prosperous automotive industry in the region. This region can generate USD 765.7 million in value by 2023.

Competitive Analysis:

Leading players in the global flock adhesive market include Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), Sika AG (Switzerland), DowDuPont Inc. (U.S.), Bostik SA (U.S.), Lord Corporation (U.S.), KISSEL + WOLF GmbH (Germany), Stahl Holdings BV (The Netherlands), International Coatings Company (U.S.), and Union Ink (U.S.).

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