Flock Adhesives Market Overview
The Flock Adhesives Market size is
estimated to grow at a CAGR of 5.3% during the forecast period 2022-2027 and
reach US$2.6 billion by 2027. Flock Adhesives are the materials that are
used for binding various substrates including textiles, plastics, foil, glass,
metals, wood, paper and others. They are extensively used in automotive interiors,
flocking of garments, carpets and furniture. In the auto industry, Flock Adhesives are used
for rigid multi-panel substrates to bond with nylon or polyester flock fibers
to polycarbonate, ABS, polystyrene and other metals. Acrylic, polyester, polyurethane,
vinyl, epoxy resin and polystyrene are the major resin types used in the flock
adhesives industry. Thus, the expansion of Flock Adhesives is primarily driven by
its usage in automotive, aerospace and textile applications. In 2020, the
surge in the COVID-19 pandemic negatively impacted automotive and aerospace
production activities. However, a steady recovery in automotive production activities has
been witnessed since 2021, which in turn, is driving the demand for Flock
Adhesives. According to the International Organization of Motor
Vehicle Manufacturers (OICA), the global production of vehicles was 80.2 billion
units in 2021, with an increase of over 3% as compared to 2020. Thus, an increase
in automotive production along with the surging demand from the aerospace
industry is expected to drive the growth of the Flock Adhesives Market size in
the coming years.
Flock
Adhesives Market Report Coverage
The
"Flock Adhesives Market Report – Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in
the Flock Adhesives Market.
Key Takeaways
- The textile segment in the Flock Adhesives Market held a significant share in 2021. In textiles, it can be applied either on the complete surface by spraying or brushing or in parts by screen printing or rotary printing.
- Asia-pacific dominated the Flock Adhesives Market in 2021, owing to its increasing demand from the textile and automotive sectors in the region. According to a report by the Textile Value Chain, China is the major exporter with a total share of over 30% in the global trade in the textile & apparel sectors followed by other countries like India, Bangladesh, Indonesia, Vietnam and Cambodia, in 2021.
- The increase in demand for lightweight materials across the automotive industry for both commercial and passenger to decrease the fuel loads are expected to create a major opportunity for the manufacturers of the Flock Adhesives Industry.
Figure: Flock Adhesives Market Share, by Resin Type, 2021 (%)
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Flock Adhesives Market Segment Analysis – by Resin Type
The epoxy segment held a significant Flock Adhesives Market share of over 30% in 2021, owing to its high tensile strength which ranges from 5,000 to 6,000 psi. Epoxy is an exceptional adhesive for metal, wood, glass, stone and some plastics when compared to other adhesive types. Thus, the usage of epoxy is highly recommended for the automotive and aerospace sectors. Hence, the increase in the aerospace industry, both commercial and passenger, is expected to create demand for the flock adhesive industry. According to the International Civil Aviation Organisation, in 2021, air traffic increased by over 4.5%, thereby creating a demand for more aircraft carriers. This helped surge the demand for aerospace materials.
Flock Adhesives Market Segment Analysis – by End-user
The textile
segment held the largest Flock Adhesives Market share of over 30% in 2021, owing to the increasing applications
from furniture & home décor to industrial interiors. Flock Adhesives can be
used in the textile industry for the lamination of film to paper and fabric. The
flocking process in the textile industry involves smearing filament fibers,
polyesters and nylon for the final finish of the product. In 2021, according to International
Textile Manufacturers Federation, the fabric industry in Turkey increased
by over 20%. Thus, a continuous increase in the fabric and textiles industry is
expected to increase the demand for the Flock Adhesives industry in the coming
years.
Flock Adhesives Market Segment Analysis – by Geography
Asia-pacific
held a dominant Flock Adhesives Market share of over 40%
in the year 2021. The consumption of Flock Adhesives is particularly
high in this region due to its increasing demand from both the automotive and
aerospace sectors. According to the International Organization of
Motor Vehicle Manufacturers, the fourth quarter of 2020 saw over 25 million,
3.5 million, 8 million and 3.4 million units production of vehicles in China,
South Korea, Japan and India, respectively, which contributed to 50% of the total
global automobile production in 2020. Thus, this surge in production is
expected to drive the growth of the Flock Adhesives Market size during the
forecast period.
Flock Adhesives Market Drivers
Growing demand for technical textile in the transportation industry:
Flock Adhesives are used extensively in the technical textile sector.
The growth in technical textiles has also increased the demand for flock
adhesives. In the automotive sector, it is used for seat
covers, airbags, filters, linings, etc. Thus, an increase in the demand and
production of vehicles would raise the demand for flock adhesives. As
per the German Federal Motor Office, in 2020, sales of automotive brands like
Volkswagen increased by over 15% in Germany. Thus, such an increase in production is expected to drive the Flock Adhesives industry during the forecast period.
Surging demand from the automotive sector:
Flock Adhesives are used in interior design components, such as glove boxes, consoles, sliding elements, door gaskets and others. Furthermore, increasing fuel prices have encouraged people to seek lighter vehicles that provide better mileage. According to the German Association of Automotive Industry, in the last quarter of 2020, newly registered motor vehicles increased to 37,467 units in Asia, 17,421 units in North America, 12,733 units in Western Europe, 3,080 units in South America, 16,763 units in Europe and 5,180 units in other regions globally. Moreover, according to the International Organization of Motor Vehicle Manufacturers, the production of heavy-duty vehicles in Europe reached 3,08,300 units in 2021, with a surge of 30% compared to 2020. Owing to these factors, the growth of the Flock Adhesives Market is expected to have a significant demand in the upcoming years.
Flock Adhesives Market Challenge
Fluctuating prices of raw materials:
Some of the raw
materials required for the production of Flock Adhesives are obtained from
crude oil such as acrylic and epoxy resin which are industrial products derived
from petroleum. Thus, the fluctuations in the crude oil process are expected to
negatively affect the growth of the market. In 2020, Brent crude
prices decreased to US$9.12 per barrel, the lowest record since December 1998. In April
2020, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, the lowest
record since February 2002. During the first 11 months of 2020-2021, the
average annual price of India’s COB was around US$42.72 per barrel, which
decreased by 30% more than the average COB price in 2019-20. Thus, the rate of such
uncertainty in terms of pricing would affect the raw material prices that are
used in adhesive production within the Flock Adhesives Industry.
Flock Adhesives Industry Outlook
Technology launches, acquisitions
and increased R&D activities are key strategies adopted by players in the Flock Adhesives Market. The top companies in the Flock Adhesives Market are:
- Sika Group
- CHT Group
- Lord Corporation
- Nyatex
- Dow
- H.B. Fuller Company
- Stahl Holdings B.V.
- Swissflock AG
- Kissel + Wolf GmbH
- Avient Corporation
Recent Developments
- In March 2022, Sika Group acquired Sable Marco Inc. (cementitious and mortars manufacturer of Canada), which would boost the retail distribution channel in the Canadian region for the company.
- In April 2021, H.B. Fuller launched two new recyclable adhesive products under its Flextra TM Evolution brand.
Relevant Reports
Report Code: CMR 0683
Report Code: CMR 0636
Report Code: CMR 0145
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LIST OF TABLES
1.Global Flock Adhesives Market By Resin Type Market 2023-2030 ($M)1.1 Acrylics Market 2023-2030 ($M) - Global Industry Research
1.2 Polyurethane Market 2023-2030 ($M) - Global Industry Research
1.3 Epoxy Resins Market 2023-2030 ($M) - Global Industry Research
2.Global Flock Adhesives Market By Resin Type Market 2023-2030 (Volume/Units)
2.1 Acrylics Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Polyurethane Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Epoxy Resins Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America Flock Adhesives Market By Resin Type Market 2023-2030 ($M)
3.1 Acrylics Market 2023-2030 ($M) - Regional Industry Research
3.2 Polyurethane Market 2023-2030 ($M) - Regional Industry Research
3.3 Epoxy Resins Market 2023-2030 ($M) - Regional Industry Research
4.South America Flock Adhesives Market By Resin Type Market 2023-2030 ($M)
4.1 Acrylics Market 2023-2030 ($M) - Regional Industry Research
4.2 Polyurethane Market 2023-2030 ($M) - Regional Industry Research
4.3 Epoxy Resins Market 2023-2030 ($M) - Regional Industry Research
5.Europe Flock Adhesives Market By Resin Type Market 2023-2030 ($M)
5.1 Acrylics Market 2023-2030 ($M) - Regional Industry Research
5.2 Polyurethane Market 2023-2030 ($M) - Regional Industry Research
5.3 Epoxy Resins Market 2023-2030 ($M) - Regional Industry Research
6.APAC Flock Adhesives Market By Resin Type Market 2023-2030 ($M)
6.1 Acrylics Market 2023-2030 ($M) - Regional Industry Research
6.2 Polyurethane Market 2023-2030 ($M) - Regional Industry Research
6.3 Epoxy Resins Market 2023-2030 ($M) - Regional Industry Research
7.MENA Flock Adhesives Market By Resin Type Market 2023-2030 ($M)
7.1 Acrylics Market 2023-2030 ($M) - Regional Industry Research
7.2 Polyurethane Market 2023-2030 ($M) - Regional Industry Research
7.3 Epoxy Resins Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Flock Adhesives Market Revenue, 2023-2030 ($M)2.Canada Flock Adhesives Market Revenue, 2023-2030 ($M)
3.Mexico Flock Adhesives Market Revenue, 2023-2030 ($M)
4.Brazil Flock Adhesives Market Revenue, 2023-2030 ($M)
5.Argentina Flock Adhesives Market Revenue, 2023-2030 ($M)
6.Peru Flock Adhesives Market Revenue, 2023-2030 ($M)
7.Colombia Flock Adhesives Market Revenue, 2023-2030 ($M)
8.Chile Flock Adhesives Market Revenue, 2023-2030 ($M)
9.Rest of South America Flock Adhesives Market Revenue, 2023-2030 ($M)
10.UK Flock Adhesives Market Revenue, 2023-2030 ($M)
11.Germany Flock Adhesives Market Revenue, 2023-2030 ($M)
12.France Flock Adhesives Market Revenue, 2023-2030 ($M)
13.Italy Flock Adhesives Market Revenue, 2023-2030 ($M)
14.Spain Flock Adhesives Market Revenue, 2023-2030 ($M)
15.Rest of Europe Flock Adhesives Market Revenue, 2023-2030 ($M)
16.China Flock Adhesives Market Revenue, 2023-2030 ($M)
17.India Flock Adhesives Market Revenue, 2023-2030 ($M)
18.Japan Flock Adhesives Market Revenue, 2023-2030 ($M)
19.South Korea Flock Adhesives Market Revenue, 2023-2030 ($M)
20.South Africa Flock Adhesives Market Revenue, 2023-2030 ($M)
21.North America Flock Adhesives By Application
22.South America Flock Adhesives By Application
23.Europe Flock Adhesives By Application
24.APAC Flock Adhesives By Application
25.MENA Flock Adhesives By Application
26.Henkel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.H.B. Fuller, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Sika., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.DOW Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Kissel + Wolf, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Lord Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Nyatex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Stahl Holdings, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.International Coatings, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Gemteks Tekstil Boyalari, Sales /Revenue, 2015-2018 ($Mn/$Bn)