PUNE, India, November 10, 2017 /PRNewswire/ --
The report "Flock Adhesives Market by Resin Type (Acrylics, Polyurethane, Epoxy Resin), Application (Automotive, Textiles, Paper & Packaging), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2022" published by MarketsandMarkets™, the global market is projected to grow from USD 2.35 Billion in 2017 to USD 3.18 Billion by 2022, at a CAGR of 6.3% in terms of value.
Browse 106 Market Data Tables and 24 Figures spread through 146 Pages and in-depth TOC on "Flock Adhesives Market"
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Factors driving the growing use of flock adhesives are the application expansion achieved through the improved quality of flock adhesives and increased demand for coated fabrics and luxury products. Growth in applications, especially in the emerging markets of Asia Pacific, and the shift in consumer preference toward high-quality and decorative products are driving the growth of the Flock Adhesives Market.
The polyurethane segment is projected to lead the Flock Adhesives Market during the forecast period during 2017 to 2022.
In terms of value, the polyurethane segment is projected to lead the Flock Adhesives Market during the forecast period. The growth of the polyurethane-based adhesives segment is supported by various factors, including the high elongation and stronger bonding properties. These are used in bonding windscreens and side and rear windows of passenger cars, trucks, and special vehicles. They are also used for bonding fiberglass reinforced plastic elements, such as roof, side, and frontal panels. These also have an edge over silicone products as they can be easily painted, and offer fissure-free coated surface for a long period of time.
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Among applications, the automotive segment is projected to grow at the highest CAGR during the forecast period, 2017 to 2022.
Among applications, the automotive segment is projected to grow at the highest CAGR during the forecast period, in terms of value. Flock adhesives are extensively used in car and other vehicle interiors. Flock adhesives play an important role in improving the aesthetics and performance of automobiles. Weight reduction of vehicles is the key to improve fuel efficiency and limiting pollutants. Flock adhesives are used for laminating, bonding, and assembling components of automotive interiors. Flock adhesives help original equipment manufacturers implement automobile weight reduction strategies and comply with stringent environmental regulations by keeping carbon emissions at a minimum level. This has presented a new growth opportunity for the adhesives manufacturers.
Asia Pacific is projected to lead the global Flock Adhesives Market during the forecast period.
Asia Pacific is projected to be the largest Flock Adhesives Market during the forecast period. Asia Pacific has emerged as the leading customer of flock adhesives owing to the increasing demand from various applications in the region, increasing disposable income, and easy access to resources. The growth of the Flock Adhesives Market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fueled by the rising investments in the infrastructure required for establishing manufacturing facilities for flock adhesives in the country.
According to China Adhesive Association, China has maintained its position as the world's leading market of flock adhesives, in terms of production and consumption. The growing middle-class population is one of the major drivers for the Flock Adhesives Market in Asia Pacific (particularly China). The middle-class population in countries such as China and India have been shifting towards purchasing luxury products such as cosmetics, watches, jewelry, and other luxury items. This trend is further expected to increase the demand of flock adhesives, as flocks are extensively used in improving the aesthetics of luxury products.
Key players profiled in the report are Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), Kissel + Wolf (KIWO) (Germany), LORD Corporation (US), Nyatex (US), Stahl Holdings (Netherlands), International Coatings (US), and Gemteks Tekstil Boyalari (Turkey), among others.
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