Flock Adhesives Market 2019: in-Depth Research on Market Dynamics, Emerging Growth Factors, Investment Feasibility, Huge Growth till 2023

Flock adhesives market is expected to touch market size of USD 3,275 million by 2023, Global Flock adhesives market is estimated to grow at a CAGR of 6.04% over the forecast period of 2018 to 2023

Pune, India - May 15, 2019 /MarketersMedia/ —

Market Research Future has published a half-cooked research report on Global Flock Adhesive Market.

The global flock adhesive market was valued at USD 2303.5 million in 2017 and is expected to rise to USD 3275 million by 2023 at a CAGR of 6.04% from 2018 to 2023 (forecast period). The growing demand for flock adhesives in the automotive industry is likely to be the major driver for the global flock adhesive market over the forecast period. The market volume is predicted to expand at 5.22% CAGR over the forecast period.

Competitive Analysis:

Leading players in the global flock adhesive market include Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), Sika AG (Switzerland), DowDuPont Inc. (U.S.), Bostik SA (U.S.), Lord Corporation (U.S.), KISSEL + WOLF GmbH (Germany), Stahl Holdings BV (The Netherlands), International Coatings Company (U.S.), and Union Ink (U.S.).

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Segmentation:

By source, the global flock adhesive market is segmented into waterborne and solvent-borne adhesives. The waterborne segment accounted for 73.2% market share in 2017 thanks to the substrate being resistant to water. It is predicted to touch a valuation of USD 2,412.2 million by 2023. It can accumulate a demand of 823.7 thousand tons by 2023. Solvent-borne adhesives are likely to be the major contributor to the global flock adhesive market over the forecast period accounting significant revenue at 5.63% CAGR over the forecast period.

By application, the global flock adhesive market is segmented into automotive, textile, paper and packaging, printing, and others. The automotive industry, followed by the textiles industry, is likely to be the major application segment of the global flock adhesives market. This can be attributed to increasing use of these chemicals in bonding of various parts.
By type, the flock adhesives market is segmented into polyurethane, acrylic, epoxy, and others. Polyurethane is likely to be the major type of flock adhesives by 2023. It was valued at USD 1,178 million in 2017. It is predicted to exhibit a CAGR of 5.94% over the assessment period to touch USD 1,366.8 million by 2023. Acrylic can contribute to market volume of 411.2 thousand tons at a CAGR of 5.77% during the forecast period.

Regional Segmentation:

By region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America.

Asia Pacific dominated the global flock adhesive market in 2017 with a majority share and is likely to remain dominant throughout the forecast period. The growing automotive industry in Asia Pacific is likely to be a major driver for the global flock adhesive market over the forecast period. The textile industry growth in countries such as India and China can be a major driver for the flock adhesive market. Both of these factors are expected to thrust the APAC market volume to 610.3 thousand tons by 2023.

Europe is likely to be a major market for flock adhesives over the forecast period, mainly due to the steady demand from the prosperous automotive industry in the region. This region can generate USD 765.7 million in value by 2023.

Market Overview:

Flock adhesives are used to produce a smooth, faultless finish in a substrate. The flock adhesive technique produces a highly homogenous finish that can even be customized according to the specific requirements. Substrates prepared using flock adhesives can also be easily painted and get a fissure-free surface, which gives flock adhesives an advantage over existing adhesive and joining technologies.

The widespread applicability and customizability of flock adhesives has led to their widespread use in the industrial sector. While flock coating doesn’t offer the scope to produce fine distinctions in the printed pattern or semitone-based coloring, it is highly useful in creating a plain print in a uniform and smooth manner over a wide range of substrates. This is the major driver for the global flock adhesives market.

The growing demand from the automotive industry is likely to be the major driving factor for the global flock adhesives market over the forecast period. Flock adhesives are highly useful for the automotive industry, as the automotive industry doesn’t require much in the way of intricate patterns in its design. Rather, the primary requirement in the automotive industry is that of uniform colors that don’t fade away and last long. These requirements are fulfilled well by flock adhesives, resulting in an impressive growth for flock adhesives from the automotive industry. The steady growth of the automotive industry in developing economies around the world is likely to further drive the flock adhesives market over the forecast period.

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