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The flock adhesives market share is expected to increase by USD 849.2 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6%.
This flock adhesives market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers flock adhesives market segmentation by application (textiles, automotive, paper and packaging, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The flock adhesives market report also offers information on several market vendors, including Anhui Sinograce Chemical Co. Ltd., Argent International Inc., Feteks, Campbell Coutts Ltd., H.B. Fuller Co., Henkel AG and Co. KGaA, International Coatings Co. Inc., Jehan Impex, Jesons Industries Ltd., Kissel Wolf GmbH, LORD Corp., Nyatex Adhesive and Chemical Co., Ralken Colours, Sika AG, Stahl Holdings BV, SwissFlock AG, Dow Inc., Weifang Ruiguang Chemical Co Ltd., Wenzhou Huate Hot Melt Adhesive Co Ltd., and Yuyao Jiangnan Chemical Co. Ltd. among others.
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The rising demand from the textile industry is notably driving the flock adhesives market growth, although factors such as stringent environmental regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the flock adhesives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Flock Adhesives Market Driver
One of the key factors driving the global flock adhesives market growth is the rising demand from the textile industry owing to the growing textile industry across the world coupled with rising government initiatives. For instance, in Feb 2021, the government of India announced the setting up of seven mega textile parks in the next three years. The government also decided to rationalize the duties on raw material inputs to man-made textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5%. Similarly, in Feb 2021, Paraguay's Ministry of Industry and Commerce announced that it would be investing USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations. Such factors are expected to support the market growth during the forecast period.
Key Flock Adhesives Market Trend
Growing trend of lightweight and low carbon-emitting vehicles is one of the key flock adhesives market trends that is expected to impact the industry positively in the forecast period. Electric vehicles have the most significant impact on reducing greenhouse gas emissions in most countries, and light gasoline vehicles achieve significant reductions. A 10% reduction in vehicle weight can improve fuel consumption by 6%-8%. Replacing cast iron and traditional steel parts with lightweight materials, such as high-strength steel and magnesium alloys, can reduce vehicle body and chassis weight by up to 50%, thus reducing fuel consumption. For this reason, the growing trend of lightweight and low carbon-emitting vehicles is expected to act as a driver for boosting the demand in the global flock adhesives market.
Key Flock Adhesives Market Challenge
One of the key challenges to the global flock adhesives market growth is the stringent environmental regulations, especially in Europe and North America. Agencies such as the Epoxy Resin Committee (ERC) and the European Commission (EC) govern the manufacturing of solvent-based products in these regions. This is affecting the production capacities of manufacturers in Europe and North America. Furthermore, the global sealants market undergoes frequent changes in terms of standards and rules. The Construction Products Regulation (CPR) implemented new regulations such as regulation (EU) No 305/2011 for marketing construction products in the EU. With the new regulations, manufacturers have to bear the additional burden of labeling and paperwork to demonstrate compliance and additional external test costs. Hence, such factors hinder the growth of the global flock adhesive market during the forecast period.
This flock adhesives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global flock adhesives market as a part of the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the flock adhesives market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the flock adhesives market encompasses successful business strategies deployed by the key vendors. The flock adhesives market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The flock adhesives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the flock adhesives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for flock adhesives in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the demand for flock adhesives from automotive and paper and packaging industries in countries such as China and India will facilitate the flock adhesives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic in 2020 negatively affected the global economy and led to a subsequent shrinking of gross domestic product (GDP) in regional countries, thereby changing consumer spending patterns. However, the global flock adhesives market witnessed a positive impact during the pandemic in 2020. This was attributed to the rise in the use of flock adhesives in COVID-19 test kits and test swabs. In addition, other advantages of adhesive flocked diagnosis kits, such as rapid elution, convenient handling and transport, and proprietary multi-length flock fibers, led to the growth of the global flock adhesives market despite the COVID-19 outbreak.
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The flock adhesives market share growth by the textiles segment will be significant during the forecast period. The significant increase in the demand for flock adhesives in the textile industry, especially for the flocking of suede fabrics, will drive the growth of the concerned market in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the flock adhesives market size and actionable market insights on post COVID-19 impact on each segment.
Flock Adhesives Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2022-2026 |
$ 849.2 million |
Market structure |
Fragmented |
YoY growth (%) |
5.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Anhui Sinograce Chemical Co. Ltd., Argent International Inc., Feteks, Campbell Coutts Ltd., H.B. Fuller Co., Henkel AG and Co. KGaA, International Coatings Co. Inc., Jehan Impex, Jesons Industries Ltd., Kissel Wolf GmbH, LORD Corp., Nyatex Adhesive and Chemical Co., Ralken Colours, Sika AG, Stahl Holdings BV, SwissFlock AG, Dow Inc., Weifang Ruiguang Chemical Co Ltd., Wenzhou Huate Hot Melt Adhesive Co Ltd., and Yuyao Jiangnan Chemical Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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