Architectural Coatings Market 2019 | Forecast, Size, Growth, Opportunities, and Trends 2023

Market Overview:

Architectural Coatings are used to coat and paint the houses and buildings. The main functions of these coatings are adhesion, wettability, corrosion resistance and weather shield. The architectural and construction industry have been specifying and utilizing protective coatings for decades. These coatings work to prevent deterioration caused by impact and environmental factors to maintain durability and aesthetics while greatly reducing maintenance costs and increasing the life of the finish.

A portion of the noticeable elements that emphatically impact the development of Architectural Coatings Market are quick industrialization, expanding lodging for the extending masses, and consistent development of construction industry. Fast urbanization combined with expanding per capita discretionary cash flow in rising economies are anticipated to drive the development of the market amid the evaluation forecast period. Additionally, rising interest for inside decorative coatings and expanding interest in construction activities is further estimated to fuel the market development over the figure time frame.

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Competitive Players:

The key players in the Global Architectural Coating Market are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan) and Asian Paints Ltd (India) among others.

Market Segmentation:

On the basis of Type, the market is segmented into acrylic, epoxy, polyurethane, polyester and others. Acrylic coating has major end uses in the building and construction, aerospace, industrial, automotive, marine and others. The properties such as adhesion to non-porous surfaces, good storage and durability, and improved solubility which ensures ease in application. It is anticipated that there will be a significant increase in the growth of Acrylic Market ever since the industrial sector is burgeoning and there is a need to safeguard industrial machinery and equipment. Epoxy Coating generally consists of two parts which are mixed with epoxy resin and it cross linked with coreactant or hardener. This process is called as curing in which the liquid epoxy coating is converted into hard and durable epoxy coating after application to a substrate. These coatings are famous for quick drying, tough and protective coating. Their low volatility is an advantage for using them in industrial applications and also reduces the flammability issues with solvent borne coatings. Epoxy coatings are resistant to UV, heat and temperature changes and it can be anticipated that as the U.S. E.P.A laid regulations on manufacturing coatings in order to control the air pollution, there will be a significant growth in the usage of epoxy based coatings to reduce air pollution causing agents as they possess low VOC’s and low volatility. As the world is shifting towards environmental friendly compounds due to the pressure by global warming and regulations laid by the government agencies it can be anticipated that there will be as significant increase in the usage of epoxy resin coating in this forecast. Polyurethane is a polymer which is joined by urethane units. It is a thermal setting polymer and it is not impulsive in nature on application of heat or any other temperature changes. Polyurethane foam obtained as spray which has outstanding insulating qualities. From maintaining optimum temperature, to lowering noise levels. Rigid polyurethane is commonly used in the roof and wall insulation. This advantage has specific use in the developed countries and it can be anticipated to see a growth in the usage of polyurethane as insulating coating in the developed countries. Polyester coating market is anticipated to increase dramatically in the forecast period. Global Architectural Coatings Market is segmented based on technology as water borne and solvent borne technology. Solvent borne coatings are made up of liquefying agents and these agents can be evaporated upon exposure to atmospheric oxygen via chemical reaction. Although, they are less vulnerable to humidity temperature changes. Moreover this technology is getting replaced by water-borne technology due to the emission of VOC’s into the air causing air pollution by means of evaporation. Solvent based coatings has no resistance for the oxidation by atmospheric oxygen and solar radiation.

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Regional Analysis:

In Asia Pacific, nations are encountering rising wages, enhancing ways of life and expanding residential establishment, while work and creation costs remain moderately low. North America is relied upon to enroll a better than expected development in the Architectural Coating Market because of the developing ecological concerns and mindfulness with respect to the unsafe parts of solvent based coatings. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of Architectural Coatings Market in EU. Paints and Coatings Industry in Latin America is experiencing a decline in the demand due to the instability in the regional economy.                                   

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Medical Plastics Market 2019 | Forecast, Size, Growth, Opportunities, and Trends 2023

Market Segmentation:

The Global Medical Plastics Market is segregated into Type and Application.

On the basis of the Type, the market is further categorized into polyvinyl chloride, polypropylene, engineering, plastics, polyethylene, polystyrene, and silicones. The polyvinyl chloride is the most widely used type in the market due to its growing consumption in flexible containers, medical sutures, and tubing. Moreover, exceptional chemical stability, inert, and versatility are the major factors behind the popularity of this segment. The polyethylene segment is set to drive the market on account of its extensive consumption in surgical cables and orthopedic sutures during the assessment period.

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On the basis of the Application, the market is segmented into disposables, implants, drug delivery devices, syringes, diagnostic instruments, catheters, and surgical instruments. Between these, the disposables is the leading segment in the market and is anticipated to observe a rapid growth due to an increased demand for Medical Devices such as disposable enemas, dialysis disposables, medical and cleaning gloves, and others. Additionally, it is predicted that the extraordinary features offered by the product such as flexibility, transparency and resistance to the electromagnetic waves are set to drive the Medical Plastics Market during the assessment period.

Industry Overview:

Medical plastics comprises of large number of macromolecules, which are used to design safe and reliable devices in the industry. It has various significant properties such as excellent flexibility, durability and it is also cost-effective. Furthermore it provide flexibility, strength, and sterility to the product.

The Global Medical Plastics Market has been driven by the scope of its application in various sectors such as disposables, implants, drug delivery devices, syringes, diagnostic instruments, catheters, surgical instruments, and others. Moreover, it is estimated that the disposables segment is set to witness the highest growth in the market due to the growing consumption of medical devices over the forecast period.

Competitive Analysis:

Some of the major players functioning in the Global Medical Plastics Market are Röchling Group (Germany), The Lubrizol Corporation (U.S.), Eastman Chemical Company (U.S.), The Dow Chemical Company.(U.S.), Saint-Gobain Performance Plastics (France), Solvay (Belgium), BASF SE(Germany),  NUSIL(U.S.), Tekni-Plex (U.S.), and Celanese Corporation (U.S.) among others.

Regional Analysis:

The Global Medical Plastics Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for Medical Plastics Market in various applications. Countries such as the U.S., Canada, and Mexico are the major players in this region. The Asia Pacific region is estimated to witness a higher growth in China, Japan, and India owing to increasing demand for lightweight materials in packaging, health care aid, and medical instruments. The enactment of new rules and regulations set by the European Union has driven the manufacturers to produce high standard medical devices in the industry. Moreover, it is projected that the advancing research & development of product in the market has propelled this region to witness a significant growth in Germany, the U.K. and Italy.

The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of plastics in drug delivery systems, syringes, diagnostic instruments, and catheters. Additionally, the growing demand for polyvinyl chloride, polyethylene in the medical industry is projected to boost the market in the Latin American region.

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Industrial Thermal Insulation Market 2019 | Potential Growth, Size & Share, Demand and Analysis of Key Players- Forecasts To 2023

Industrial Thermal Insulation Market – Overview:

Thermal Insulation are used to restrict the flow of heat energy from hotter side to colder side. They are predominantly utilized in numerous end use industries such as power generation, automotive, petrochemical & refineries, aerospace & defense, and others. Industrial Thermal Insulation Market is expected to witness moderate growth due to their demand for various process control in petrochemical & refineries, power generation, and other end use industries.  In addition, among the material segment calcium silicate accounted for the largest market share due to their broad service temperature range around 35 deg C to 815 deg C. Furthermore, Perlite segment is estimated to with the tremendous CAGR due to their heavy usage in many industrial application. Among the end use segment, petrochemical & refineries segment accounted for the largest market share and holds for around 45 % due to their robust presence in across the globe.

Geographically, North America emerged as the largest market for Industrial Thermal Insulation followed by Europe and Asia Pacific. The Asia Pacific Industrial Thermal Insulation Market is predicted to witness healthy growth with a moderate CAGR over the forecast year on account of rising industrial base for many end use industries in these region. Furthermore, the demand for industrial thermal insulation is estimated to rise in various countries of Asia Pacific such as China, India, Japan, and South Korea due to continuous expansion of automotive sector combined with high adoption rate from numerous end use industries. Apart from this, growing investment by major market players in their innovation and research & development activities and shifting of Industrial Thermal Insulation manufacturing unit in this region is estimated to fuel the Industrial Thermal Insulation regional market growth. North American market is estimated to witness healthy growth on account rising demand for Industrial Thermal Insulation in petrochemical & refineries. North American market is further segmented into U.S. and Canada, among them U.S. is predicted to be the major contributor in the regional market growth due to robust growth of aerospace & defense and petrochemical & refineries. European market is expected to witness above average growth owing to rising awareness regarding the benefits associated with the product as well as increasing purchasing power of consumer. In addition, developing countries of Latin America and the Middle East & Africa are estimated to witness steady growth on account of strong consumer base for automobile and power generation.

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Industry/ Innovation/ Related News:

June 2017- Recticel Insulation, a Belgian Group, one of the leading manufacturer of PIR insulation announced to expand its production facilities located in Finland. The new manufacturing unit will manufacture high performance rigid polyurethane foam (PIR) panels for thermal insulation for the construction sector. With this expansion, the company will able to meet the increasing demand for thermal insulation in North Europe.

May 2017- Hitachi Chemical Co. Ltd announced to acquire Isolite GmbH, German manufacturer of thermal insulations for aircraft, automobiles, and other industrial applications. With this acquisition Company is following its medium term management plan in which the company aim is to strengthen their automotive products business by expanding their overseas development, manufacturing and sales bases.

February 2017- Synavax announced to launch its industrial thermal insulation coating. This product is used to withstand harsh industrial and outdoor environments and offers an economical spray on application with no exterior jacketing required. These are used in various industrial application such as industrial furnaces, heat exchangers, industrial ovens, steam pipes and valves, brewing tanks, and others. With this product launch the company strengthen its position in industrial thermal insulation market.

June 2017- ISD Solutions, one of the subsidiary of P&M Group announced to acquire PLG Insulations, an industrial insulation company. With this acquisition, the company extend their range of complementary services offered to clients.

Competitive Landscape:

The Industrial Thermal Insulation Report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The Global Industrial Thermal Insulation Market includes a large number of suppliers operating in the market which includes large scale and medium scale producers. Some of the prominent market players operating in the Global Industrial Thermal Insulation Industry has shifted their focus towards growth association specifically by Asia Pacific as medium level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Apart from this, the key manufacturers are focusing on expanding their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are increasing their manufacturing capacity of industrial thermal insulation to meet the growing demand for Industrial Thermal Insulation.

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Automotive Lubricants Market 2019 | Emerging Trends, Highlights and Challenges Forecast 2027

Market Insights:

Automotive Lubricants are an essential part of maintaining optimum efficiency when using automobiles. The automotive industry has been expanding at a truly rapid pace which has resulted in an increased demand for Automotive Lubricants. Market Research Future has revealed several important findings in its newest report on the Global Automotive Lubricants Market. Growth of the market is expected to witness a steady, upward trend.

Global sales of automotive vehicles have increased significantly, and expansion of the commercial sector has resulted in increased sales of commercial vehicles. Increasing urbanizations across the world, and a rise in disposable incomes in emerging economies has increased sales of passenger automobiles which has directly impacted the Automotive Lubricants Market. The expansion of the commercial sector has been influenced by the economic growth in developing countries. Increasing popularity of motorsports and auto racing have also been found to contribute to the increased demand for automotive lubricants. Automotive Lubricants are vital in increasing vehicular performance and have the ability to reduce engine wear, thus contributing to a longer life and efficient running of automotive vehicles. These advantages act as drivers of the Automotive Lubricants Market.

Biolubricants are increasingly witnessing applications in the automotive industry. Rising environmental concern is expected to reveal new opportunities in the near future. Moreover, market players are consistently developing new and improved lubricants which will drive market growth.

Key Players:

Chevron Corporation, Fuchs Lubricants Co., ExxonMobil Corporation, ConocoPhillips Corporation, and BP Plc are among the leading market participants that have been included in MRFR’s competitive analysis.

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Latest Industry News:

Tata Motors & Gulf Oil have signed an agreement to launch a lubricant range aimed at passenger vehicles in India. The co-branded lubricant range is expected to cater to the expanding sales of passenger vehicles in the region.

HollyFrontier is poised to acquire Sonneborn in an effort to bolster its positioning in automotive lubricants market.

Market Segmentation:

The Global Automotive Lubricants Market report by MRFR has included several key segments which contribute to market structure. Segmental analysis of the market has been done on the basis of type, vehicle, and region.

Types of automotive lubricants include transmission fluids, engine coolant, grease, gear oil, engine oil, and others. These lubricants perform various functions to help maintain smooth functioning of automotive vehicles. Some examples of their varied applications include the use of gear oil for smooth transmission, while engine coolants are used to absorb heat from the engine to avoid overheating.

Vehicles which use automotive lubricants include light, commercial, and heavy vehicles. Use of lubricants in vehicles ensures optimization of fuel consumption as well as reduced carbon emissions.

Regional Analysis:

The Asia Pacific has captured a significant share of the market and has earned a leadership position for itself in the Global Automotive Lubricant Market. Countries such as South Korea, India, China, and Japan are key markets within the APAC due to the rapid growth of the automotive industry in the region. The economic growth in the region and increasing industrialization has led to the expansion of the transportation sector, thus driving increased demand for automotive lubricants. Moreover, the region has an immense population and an expanding middle class which is increasingly urbanizing. Consumers in the region, due to above-mentioned factors have a rising disposable income which has increased the demand for light passenger vehicles.

Additionally, the APAC has been established as a manufacturing hub for automotive vehicles. This is expected to have a positive impact on the market.

Europe and North America are mature markets, and the developed countries in these regions have somewhat reached their saturation point. However, these regions hold great promise in the rapidly developing economies present in the region. The European market is witnessing increasing opportunities for growth in Eastern Europe. Meanwhile, North America comprises the U.S, Canada, and Mexico. The U.S is a developed country with a saturated market with a large automotive sector and several leading market players. Mexico and Canada represent growth opportunities for the market over the forecast period.

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Purified Terephthalic Acid Market 2019 | Forecast, Size, Growth, Opportunities, and Trends 2023

Market Synopsis:

Market Research Future (MRFR)’s new study asserts that the Global Purified Terephthalic Acid (PTA) Market is projected to expand at a moderate CAGR during the forecast period 2017 to 2023. PTA offers insulation, resistance to chemicals and weathering, etc.  Which has led the development of its application in the production of a few important chemicals such as terephthaloyl chloride, cyclohexane di-methanol, etc. It is likely to create more demand for PTA in the upcoming years.

PTA is expected to be extensively in demand for the manufacturing of packages in the food & beverage industry. The growth of the food & beverage industry coupled with rising disposable income is poised to drive the expansion of the Purified Terephthalic Acid (PTA) Market over the assessment period. The market is also projected to scale new heights due to the increase in housing activities.

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PTA is an important ingredient for the production of solvent-free and environmentally friendly powder coatings which are famous in the industries for general purposes. The rapid industrialization is set to further push the growth of the Purified Terephthalic Acid (PTA) Market. Other end-user industries that are analyzed to generate more demand for PTA in the future are oil & gas, electrical, furniture, etc. Meanwhile, strict regulations by various governments remain a hindrance to the expansion of the global market in the foreseeable future. 

Competitive Dashboard:

Some of the key players profiled in the report are Reliance Industries Limited (India), The Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Alpek S.A.B. de C.V. (Mexico), BP p.l.c. (U.K), Eastman Chemical Company (U.S.), China Petroleum & Chemical Corporation (China), Mitsubishi Chemical Corporation (Japan), SABIC (Saudi Arabia), and Indian Oil Corporation Ltd (India).

Market Segmentation:

By Application, the Global Purified Terephthalic Acid (PTA) Market has been segmented into polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials, and others.

By End-Use Industry, the Purified Terephthalic Acid (PTA) Market has been segmented into food & beverages packaging, paints & coatings, textiles, electrical, and furniture.

Regional Insights:

The Global Purified Terephthalic Acid (PTA) Market has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is expected to register the highest CAGR over the assessment period. The factors that are inducing growth in the regional Purified Terephthalic Acid (PTA) Market include expanding food & beverages packaging industry, rising demand for paints & coatings, increasing home furnishing due to rapid housing activities, etc.

Asia Pacific is estimated to account for the largest share of the Global Purified Terephthalic Acid (PTA) Market towards the end of the assessment period. The growth trajectory of the regional market is guided by the rise in polyester fiber consumption. Furthermore, growing paints & coatings production, rising disposable income, healthy economic growth rate, the growth of the electrical industry, etc. are some of the major factors responsible for catalyzing the proliferation of the purified terephthalic acid (PTA) market in the region. The growth of the petroleum industry is anticipated to work in favor of the market expansion. China, India and other emerging economies are the potential country-level markets for Purified Terephthalic Acid (PTA).

North America and Europe are significant growth pockets and are projected to exhibit substantial growth over the next couple of years. The U.S., trailed by Canada, is likely to lead the Purified Terephthalic Acid (PTA) Market in North America due to an increase in the production of crude oil. In Europe, the country-level markets that are poised to witness significant growth include Italy, Germany, Spain, the U.K, France, and Russia owing to rising investments in home furnishings. Meanwhile, the Latin American countries such as Argentina, Colombia, and Brazil are prognosticated to focus on the development of new technologies and inventions in PTA. It is expected to augment the Purified Terephthalic Acid (PTA) Market in the region.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Flouropolymer Coating Market 2019 | Potential Growth, Size & Share, Demand and Analysis of Key Players- Forecasts To 2023

Global Flouropolymer Coating Market – Competitive Analysis:

Flouropolymer Coating Market appears highly competitive. This competition will further get intensified with the high investments estimated to transpire during the forecast period. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the market.

Key Players:

Some of the key players of Flouropolymer Coating Market include – Daikin Industries, Ltd. (Japan), Whitford Corporation (US), Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (US), E. I. du Pont de Nemours and Company (US), The Becker Group, Ltd. (US), The Valspar Corporation (US), BASF SE (Germany), Toefco Engineered Coating Systems, Inc. (US), and TIGER Drylac U.S.A., Inc. (US).

Industry/ Innovation/Related News:

July 28, 2018 – Daikin Industries, Ltd. (Japan) announced its plans to test the US market for a new type of fluoropolymer. If the US market warms up to the resin, Daikin plans to proceed with a US$200 Mn. expansion at its plant in Decatur, Atlanta. However, a 25% import tariff that the US is planning to impose on fluoropolymers and other products from China threatens Daikin’s plan.

February 08, 2018 – Precision Coating Co., Inc. (PCCI – US), a leading global specialty anodic coating and printing expert presented its medical device fluoropolymer applicator at the Medical Design and Manufacturing (MD&M) West Conference and Expo 2018. The company engineers innovative surface modification solutions to enhance the value and performance of medical wire, devices, and instruments.

Industry Summary:

Flouropolymer Coating materials provide products with a smooth surface finishing, lubrication, non-wetting protecting properties, impermeability to gasses, and high resistance to moisture (water and oils), chemicals, corrosion, UV radiation, and chalking. Flouropolymer Coating last for a long time, thus it reduces recoating costs and the consumption of raw materials.

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Due to these exceptional properties, these coatings find their applications in diverse industries such as building & construction, oil & gas, automotive, aerospace, industrial, and food processing for applications ranging from cooking pans to catheters (medical devices). Naturally, these coatings witness a huge demand across some burgeoning industries that resultantly drive the market growth of Flouropolymer Coating.

Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) has recently published a study report. In its report, MRFR foretells that the Global Flouropolymer Coating Market is expected to grow exponentially by 2023, registering a phenomenal CAGR during the forecast period (2017 – 2023).

Flouropolymer Coating Market – Regional Analysis

Globally, Asia Pacific accounts for one of the promising markets for Flouropolymer coating followed by North America and Europe region respectively. The APAC region is estimated to register the highest CAGR during the review period owing to some of the burgeoning industries such as oil & gas, food processing due to the extensive use of the coating to protect machinery in these industries.

The ensuing increase in foreign investments and a rise in the number of new manufacturing establishments will contribute to the market growth in APAC. Also, widened uptake of PTFE coat for cookware products along with the growing activities of crude oil processing and petroleum refineries especially, in India and China are some of the forces driving the market growth.

Flouropolymer coating market in the Asia Pacific is predicted to grow with the moderate CAGR over the assessment period due to the burgeoning automotive sector in various developing nations of APAC such as India, China, Japan, Malaysia, and Thailand. Additional factors such as the growing GDP, rapid industrialization, growing production and industrial bases, increased demand to save energy and reduce greenhouse emissions are substantiating the market growth in the region, augmenting the demand for Flouropolymer Coating.

Attributing to the expanding aviation industry in the region, the North America Flouropolymer Coating market is expected to grow with the highest CAGR during the review period, 2017 to 2023.  The market in the US, Canada, and Mexico enjoy augmented demand due to the high adoption rate of the product by the petrochemical producers. Additional factors substantiating the market growth include the presence of large oil & gas reserves in this region, increasing production capacities and high consumption potential. The US, backed by the growth in the production of crude oil is expected to account for the major contributor to the growth of the regional market.

The Europe Flouropolymer Coating market is another promising space on the global level.  The market is witnessing huge demand for Flouropolymer coating especially due to the growing demand from the countries such as Germany, Italy, Spain, France, the U.K, and Russia backed by the increased expenditure in innovation and growing purchasing power of consumers. Furthermore, the presence of major automobile manufacturers specifically in Germany is providing an enormous impetus to the market growth in the region.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Flock Adhesives Market 2019 | Emerging Trends, Highlights and Challenges Forecast 2023

Industry/ Innovations/ Related News:

September 12, 2018 – Henkel AG & Co. KGaA (Germany), a leading global adhesive and Sealant Company laid the cornerstone for the new global innovation center of its Adhesive Technologies business at the company’s headquarters in Düsseldorf. The venture involves an investment of more than 130 Mn. Euros. The facility alongside offering around 350 Henkel experts to develop new technologies and applications will also serve as a global customer center, for Henkel to present new solutions for adhesives, sealants and functional coatings. The project is estimated to be completed by the end of 2020.

Key Players:

The Global Flock Adhesives Market is driven by some of the leading players including H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), NYATEX(US), LORD Corporation (US), Stahl Holdings B.V(the Netherlands), Sika AG(Switzerland), International Coatings (US), Gemteks Tekstil Boyalari (Turkey), and Kissel + Wolf (KIWO – Germany).

Market Synopsis:

Flock Adhesives provide excellent bonding to many different types of substrate they are applied on, such as plastics, textiles, metals, wood, glass, and paper. They are used to improve the feel of a garment, noise reduction and to provide thermal insulation. Besides, Flock Adhesives offer enhanced durability, sustainability, safety, comfort, and vibration to the products.

Flocks are majorly consumed in the automobile manufacturing sectors. Due to stringent emission norms, automotive regulations, including crash, safety, and engine downsizing automakers are adopting light-weight auto parts and materials such as fiber to reduce the total vehicle weight.

Working in the same direction, manufacturers of flocks, are too driving cutting-edge technologies that are focused on sustainable light-weighting solutions to help OEMs achieve their targets of weight reduction, cost efficiency, and better fuel economy while enhancing safety and comfort in vehicles.

Additionally, flocks are also used for car body interior and exterior applications such as interior lamination adhesives, bonding and sealing solutions for exterior components. As a result, the automotive manufacturing sector generates a vast demand for Flock Adhesives which is helping the Flock Adhesives Market to grow on the global platform.

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Considering the rapid market expansion, Market Research Future (MRFR) in its recently published study report, asserts that the Global Flock Adhesives Market is forecasted to grow exponentially by 2023, registering a staggering CAGR during the review period (2017-2023). Paper and packaging sector is another lucrative application of flock adhesives, driving the demand hugely.

Global Flock Adhesives Markets – Segments

The report is segmented into three key dynamics for the convenience;

By Resin Type: Acrylics, Polyurethane, and Epoxy among others.

By Application: Automotive, Textiles, Paper & Packaging among others.

By Region:  North America, Europe, APAC and the Rest-of-the-World.

The subsegment acrylics owns the majority of the market share owing to the unique features offered by the resin type such as excellent chemical and thermal resistance.

Whereas, the subsegment polyurethane resin is projected to witness a rapid growth in the market owing to its growing consumption in the automobile, and paper & packaging sectors, among others.

The subsegment automobile accounts for a substantial share of the market by applications owing to the major switch to lightweight materials to improve the efficiency and performance of vehicles.

Whereas, the subsegment paper & packaging generates a major demand for the flock adhesives, witnessing rising sales of greeting cards, gifts, and packaging. The subsegment is expected to lead the application segment during the assessment period.

Global Flock Adhesives Markets – Geographical Analysis

Globally, the Asia Pacific region dominates the Global Flock Adhesives Market owing to the increasing adoption of lightweight materials in automotive, paper & packaging, and textiles among others. The burgeoning automotive industry in the region is expected to generate enormous demand for flock adhesives during the review period.

Consequently, countries such as China, Japan, and India, backed by their growing automotive sectors contribute majorly to the market in the region. Furthermore, improving the economy in the region is boosting the demand for Flock Adhesives, improving the standard of living and increasing consumers’ purchasing power.

North America Flock Adhesives Market emerging as the fastest growing market accounts for a substantial market share on the global platform. Factors such as the increased consumption of adhesives in textiles and paper packaging sectors, substantiate the market growth in the region.

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Also, factors such as growing investments in the end-use industries and technological advancement along with the augmenting uptake of the material boost the market growth in the region. Simultaneously, the presence of leading global players is one of the key driving forces, substantiating the growth in the region. Witnessing a broad uptake across the region the North America Flock Adhesives Market is expected to significantly contribute to the GDP of the region throughout the assessment period.

The Europe Flock Adhesives Market is emerging as one of the promising markets, witnessing the implementation of new regulations proposed by the government to follow lightweight and biocompatible resins in the industry. Besides, the growing consumption of lightweight materials in the automobile sector has propelled the market growth to an extent. Flock Adhesives Market in the UK, Italy, Germany, and France, driven by growing innovation and technological advancement are supporting the market growth.    

                              

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