Flock Adhesives Market Eyeing Favorable Growth due to Growing Automotive Industry
Market Analysis
The global flock adhesives market is expected to touch a significant value at a great CAGR over the forecast period, states the new Market Research Future (MRFR) report. Flock adhesives, simply put, are chemically formulated products that are used in flocking, where several tiny particles are deposited on the textile surface. It is done for improving the product/substrate’s overall characteristics that translate to better texture, appeal, and appearance. Different methods are used for applying flock adhesives such as silk-screen, dipping, spraying, and brushing. It is selected depending on the desired finish and characteristic properties. Some of the key characteristics of flock adhesives include pigmentation, solvent resistance, wash-ability, flame retardancy, flexibility, among others.
Various factors are propelling the flock adhesives market growth. These factors as per the new Market Research Future (MRFR) report, include growing applications across different end user industries such as packaging, printing, textiles, and automotive, growing demand for luxury products and coated fabrics, shift in consumer preference towards decorative and high-quality products, and rising expenditure and per capita income. Additional factors propelling market growth include increasing utilization of alternative materials, especially in automotive exterior and interior applications to improve fuel efficiency and reduce emissions, growing automotive industry, and increasing use of light-weight materials by OEMs to comply with the strict environmental regulations.
On the flip side, the volatility of prices may deter the flock adhesives market growth over the forecast period.
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Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the flock adhesives market on the basis of source, application, and type.
Based on source, the flock adhesives market is segmented into solvent-borne and waterborne adhesives. Of these, the waterborne segment will have the largest share in the market over the forecast period.
Based on application, the flock adhesives market is segmented into printing, paper and packaging, textile, automotive, and others. Of these, the automotive segment will lead the market over the forecast period.
Based on type, the flock adhesives market is segmented into epoxy, acrylic, polyurethane, and others. Of these, the polyurethane segment will dominate the market over the forecast period.
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Regional Analysis
By region, the flock adhesives market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Asia Pacific will dominate the market over the overcast period. Factors aiding growth in this region include the expanding automotive industry and the growing textile industry in China and India.
The flock adhesives market in North America is predicted to have a healthy growth over the forecast period chiefly due to the burgeoning demand for flock adhesives from the automotive sector.
The flock adhesives market in Europe is predicted to have a notable growth over the forecast period. Factors aiding growth in this region include the steady demand from the automotive industry, coupled with the burgeoning demand for luxury products.
The flock adhesives market in the MEA and Latin America are predicted to have a steady growth during the forecast period.
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Key Players
Leading players profiled in the flock adhesives market report include Union Ink (US), International Coatings Company (US), Stahl Holdings BV (The Netherlands), KISSEL + WOLF GmbH (Germany), Lord Corporation (US), Bostik SA (US), DowDuPont Inc. (US), Sika AG (Switzerland), H.B. Fuller (US), and Henkel AG & Co. KGaA (Germany). Key players have adopted different strategies for creating a foothold in the market, such as partnerships, mergers and acquisitions, collaborations, research and development, and more.
October 2019: Panacol has launched a new UV adhesive, Vitralit 7311 FO. This orange fluorescent adhesive is certified as per the USP Class VI standards, thereby making it ideal for various medical devices. The transparent, low viscosity acrylic adhesive will offer excellent bond strength to different plastics such as ABS, PMMA, PVC, PC, and others, along with other materials, including stainless steel and glass.
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