Scienza e Tecnologia
Flock Adhesive Market to Grow More Than Double, Surpassing US$ 4.6 Billion by 2032
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.
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 1/5 of revenue in the global market by 2022.
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 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:
: 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.
: 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.
: 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.
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