The Global Flock Adhesives Market is growing with the impulsive pace; mainly due to the expanding automotive and textile industries. According to a recent study report published by the Market Research Future, the global market of Flock Adhesives is prospering and expected to gain strong influence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Flock Adhesives is driven by the region Asia Pacific, owing to growing consumption of foil adhesives in automotive, textiles, paper & packaging, electrical & electronics, and others. These materials are used to impart excellent aesthetic appearance, durable nature, chemical along with abrasion resistance to the final product. Additionally, increasing consumption of the product on glass, fibers, and others has led to a surge in demand for flock adhesives in the market.
Increasing demand for adhesives in applications such as toys, automobile seat repair, medical devices, and others signifies the growth of end-use industries. Moreover, growing consumption of product due to unique features offered by the product such as aesthetic appearance, fibered grip, protection against scratches, and cracks provide a momentum to the flock adhesives market growth.
On the other hand, extensive use of flock materials in major industries is projected to propel the market growth during the forecast period.
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Flock Adhesives are used in various end-use industries such as automotive, textiles, paper & packaging, and others. They are utilized to add extraordinary features such as superior performance, enhanced mechanical properties, and others to the final product. The growing demand of these materials has prompted the manufacturers and investors to shift their focus from ordinary materials to advanced adhesives in end-use applications. Additionally, the improving technological advancement and innovations of the product in the leading companies have resulted into a remarkable growth in the market during the forecast period.
Flock Adhesives Market - Regional Analysis
Geographically, Asia Pacific is leading the Global Flock Adhesives Market. China holds the major portion due to extensive use of advanced adhesives and increasing replacement of heavy substances by lightweight products in the region. Increasing consumption of foil adhesives in numerous applications such as gifts, greeting cards, sponge, toys, fabric, woven, and others has boosted the market demand in Japan, and India. North America has witnessed a significant growth in the market owing to rapid consumption of advanced adhesives in end-use industries. A notable growth has been received by the European region due to implementation of strict rules and regulations to adopt bio-compatible and superior materials in major sectors. Additionally, the market is growing significantly in the Middle East & Africa and Latin America regions, due to extensive consumption of low density, water-proof materials in the major industries.
Flock Adhesives Market- Competitive Landscape
The Flock Adhesives Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Flock adhesives market is set to grow at a higher CAGR which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers operating in the flock adhesives market are struggling to respond to an increase in demand for the product from automotive, textiles, paper & packaging, and other sectors attributed to technological advancement and increasing production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
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Industry/ Innovation/ Related News:
November 11, 2016 – FLEXcon Company, Inc (the Netherlands), one of the leading manufacturers of flock adhesives, declared that the company has come into an agreement with FiberLok to develop a Lextra Pressure Adhesive dimensional graphics for reliable, prime label, and point of purchase(POP) applications. This product has been manufactured due to its ability to produce flock transfers. One of the sources of the company also announced that the product has created a surge in demand for end-use applications such as brand identity labels on durable goods, instructional labels for auto interiors, and others. Therefore, these factors are expected to drive the market over the assessment period.
