Flock adhesives market is estimated to garner a revenue of ~ USD 5 Billion & growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035

NEW YORK, NEW YORK, UNITED STATE, December 22, 2022 /EINPresswire.com/ -- Global Flock Adhesives Market Key Insights

During the forecast period of 2023-2035, the global flock adhesives market is expected to reach an estimated value of ~USD 5 billion by 2035, by expanding at a CAGR of ~5%. The market further generated a revenue of ~USD 2 billion in the year 2021. Major key factors propelling the growth of flock adhesives market worldwide are the boom in the textile industry and boom in the automotive industry globally.

Market Definition of Flock Adhesives

Flock adhesives are primarily used as binding agents for rubber, plastic, and metal substrates. The process of adhesive flocking is carried out by incorporating fiber particles electrostatically into numerous adhesive layers. These adhesive layers are further applied to dense textile fabrics. Furthermore, flock adhesives are highly consumed in the textile industry for various processes such as spraying or brushing. Thus, the growth in businesses in the textile industry is expected to increase the adoption rate of flock adhesives in the upcoming years.

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Global Flock Adhesives Market: Growth Drivers

The growth of the global flock adhesives market can majorly be attributed to the launch of several partnership programs by the key players operating in the market. For instance, H.B. Fuller Company has entered into partnership with Enimac that is expected to combine the market and expertise with advanced knowledge on pressure-sensitive adhesive tapes to support the growing e-commerce packaging industry. On the other hand, the market growth can also be attributed several acquisition contracts occurring in the field of flock adhesives. For instance, Sika AG has acquired United Gilsonite Laboratories (UGL) in the United States, manufacturer of products for consumer and DIY waterproofing applications.

The global flock adhesives market is also estimated to grow majorly on account of the following:

Expansion of the Automotive Industry
Growth in Electric Vehicles
Surge in the Electronics Industry
Expansion of the Construction Industry
Global Flock Adhesives Market: Restraining Factor

There are inhalation of the chemical can be hazardous to health, and stringent rules by the government in the market. Hence, these factors are expected to be the major hindrance for the growth of the global flock adhesives market during the forecast period.

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Global Flock Adhesives Market Segmentation

By Application (Automotive, Textile, Printing, Paper & Packaging, and Others)
The automotive segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2031. The growth of the segment can be attributed to the high number of vehicles on the road. It has been observed that by the end of the first quarter of 2022, there were approximately 1.45 billion vehicles on the roads across the globe. Additionally, the effect of the burgeoning population is on the rising demand for automobiles to fulfill their needs. The International Organization of Motor Vehicle Manufacturers (OICA) estimated that the global sales of vehicles in the year 2021 rose to 82,684,788 units from 78,774,320 units in 2020; whereas, the global production was calculated to be 80,145,988 vehicles in 2021, an increase from 77,711,725 vehicles in 2020.

By Type (Polyurethane, Acrylic, Epoxy, and Others)
By Source (Waterborne, and Solvent borne)
By Region
The Asia Pacific flock adhesives market is anticipated to hold the largest market share by the end of 2031 among the market in all the other regions. Maturing of textile industry, and rise in demand for the vehicles in the region are some of the major factors anticipated to drive the growth of the market in the Asia Pacific during the forecast period. According to the International Organization of Motor Vehicle Manufacturer (OICA), the sales and registration of new vehicles in the Asia Pacific region grew up to 42,663,736 units in 2021, a considerable increment from 2020 with 40,322,544 vehicles.

The market research report on global flock adhesives also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Flock Adhesives Market

Some of the key players of the global flock adhesives market are Henkel AG & Co. KGaA, H.B. Fuller Company, The Dow Chemical Company, Sika AG, KIWO INC., International Coatings Company, Inc., Centre for High Technology, Parker-Hannifin Corporation, Stahl Holdings B.V., Argent International, Inc., and others.

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