Flock Adhesives Market - Forecast(2024 - 2030)

Report Code: CMR 90508 Report Format: PDF + Excel

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.

By Product Type: Water-based, Solvent-based and Others.
By Resin Type: Acrylic, Epoxy, Polyurethane and Others.
By End-user: Automotive (Interior and Exterior), Aerospace, Cosmetic Applicators, Home/Household Products, Paper Industry, Industrial (Rubber profiles, Glass, Insulation, Barrier Layers and Others), Packaging, Construction, Textile (Carpets/wallpapers, Dyestuff, Others) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America), the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

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 (%)

Flock Adhesives Market

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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:

  1. Sika Group
  2. CHT Group
  3. Lord Corporation
  4. Nyatex
  5. Dow
  6. H.B. Fuller Company
  7. Stahl Holdings B.V.
  8. Swissflock AG
  9. Kissel + Wolf GmbH
  10. 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.

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1. Flock Adhesives Market - Market Overview
    1.1 Definitions and Scope
2. Flock Adhesives Market - Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Resin Type
    2.3 Key Trends by End-user
    2.4 Key Trends by Geography
3. Flock Adhesives Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Flock Adhesives Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Flock Adhesives Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Flock Adhesives Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Flock Adhesives Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Flock Adhesives Market – by Product Type (Market Size - US$ Million/Billion)
    8.1 Water-based
    8.2 Solvent-based
    8.3 Others
9. Flock Adhesives Market – by Resin Type (Market Size - US$ Million/Billion)
    9.1 Acrylic
    9.2 Epoxy
    9.3 Polyurethane
    9.4 Others
10. Flock Adhesives Market - by End-user (Market Size - US$ Million/Billion)
    10.1 Automotive
        10.1.1 Interior
        10.1.2 Exterior
    10.2 Cosmetic Applicators
    10.3 Home/Household Products
    10.4 Paper Industry
    10.5 Industrial
        10.5.1 Rubber profiles
        10.5.2 Glass
        10.5.3 Insulation
        10.5.4 Barrier Layers
        10.5.5 Others
    10.6 Packaging
    10.7 Construction
    10.8 Textile
        10.8.1 Carpets/wallpapers
        10.8.2 Dyestuff
        10.8.3 Others
    10.9 Others
11. Flock Adhesives Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 The USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 The Netherlands
        11.2.6 Spain
        11.2.7 Denmark
        11.2.8 Belgium
        11.2.9 The Rest of Europe
    11.3 Asia-pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 The Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 The UAE
            11.5.1.3 Israel
            11.5.1.4 The Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 The Rest of Africa
12. Flock Adhesives Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Flock Adhesives Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Geography - Major companies
    13.4 Market Share at Country Level - Major companies
    13.5 Market Share by Key Product Type/Product category - Major companies
14. Flock Adhesives Market – Key Company List by Country Premium Premium
15. Flock Adhesives Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10Company 10
* "Financials would be provided to private companies on best-efforts basis."
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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)