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Water-Based Flocking Adhesive Market – By Type, By Application, By End-User, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Water-Based Flocking Adhesive Market Overview:
Water-Based Flocking Adhesive Market size is estimated to reach $800 million by 2030, growing at a CAGR of 7.2% during the forecast period 2024-2030. The rising demand for water-based adhesives is owing to their eco-friendly and safe properties. The automotive industry is experiencing growing demand for interior components such as dashboards, steering wheels and seats are propelling the Water-Based Flocking Adhesive Market growth. Additionally, the construction industry is experiencing growing demand for materials such as concrete, wood and metal which is creating substantial growth opportunities for the Water-Based Flocking Adhesive Market. These factors positively influence the Water-Based Flocking Adhesive industry outlook during the forecast period.
Water-Based Flocking Adhesive Market - Report Coverage:
The “Water-Based Flocking Adhesive Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Water-Based Flocking Adhesive Market.
| Attribute | Segment |
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By Type |
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By Application |
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By End-User |
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By Geography |
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COVID-19 / Ukraine Crisis - Impact Analysis:
● The COVID-19 pandemic has caused a decrease in demand for products that use water-based flocking adhesives, such as automotive parts, furniture and textiles. This led to a decline in sales for water-based flocking adhesive manufacturers. Additionally, the pandemic also disrupted the supply chain, making it more difficult for manufacturers to obtain the raw materials such as polyurethanes and polyester needed to produce water-based flocking adhesives. This also contributed to the decline in sales for water-based flocking adhesive manufacturers.
● One of the most significant impacts of the Ukraine crisis has been on supply chains. Russia and Ukraine are major exporters of raw materials used in the production of water-based flocking adhesive, such as polyvinyl alcohol (PVA) and acrylics. The conflict has disrupted these supply chains, leading to higher prices for raw materials and longer lead times for orders. The Ukraine crisis has also led to higher prices for energy. Russia is a major exporter of oil and gas, and the conflict has led to higher prices for these commodities. This has increased the cost of production for water-based flocking adhesive, which has put upward pressure on prices.
Key Takeaways:
● Fastest Growth Asia-Pacific Region
Geographically, in the global Water-Based Flocking Adhesive Market share, Asia Pacific is analyzed to grow with the highest CAGR of 8.8% during the forecast period 2024-2030. The growth in Asia Pacific is attributed to the increasing demand for flocked molded parts and surface applications in the automotive, furniture and textiles industries. Manufacturers are actively developing new products with enhanced performance, such as improved bonding strength, chemical resistance and temperature resistance. Additionally, the region's rapid economic growth is fueling higher consumer spending on goods and services, contributing to the market's expansion in Asia Pacific.
● Acrylic to Register the Fastest Growth
In the Water-Based Flocking Adhesive Market analysis, the Acrylic segment is estimated to grow with the highest CAGR of 8.5% during the forecast period 2024-2030 owing to the increasing demand for durable and lightweight materials, the expanding use of acrylic in the healthcare industry and the growing popularity of acrylic paints. Acrylic water-based flocking adhesives are preferred over solvent-based counterparts due to their lower environmental impact. Water-based formulations are generally considered more eco-friendly as they emit fewer volatile organic compounds (VOCs), contributing to improved air quality and reduced environmental pollution.
● Flocking of Formed Parts is Leading the Market
According to the Water-Based Flocking Adhesive Market forecast, the Flocking of Formed Parts held the largest market share of 35.1% in 2023. The demand for flocked formed parts in automotive, furniture, and electronics industries is rising due to their applications in dashboards, steering wheels, seats, furniture and electronics. This increasing demand is fueling the need for flocking of formed parts. The market is also witnessing a growing emphasis on sustainability, with water-based flocking adhesives gaining popularity for their eco-friendly nature, lacking volatile organic compounds (VOCs) that contribute to air pollution. This sustainability focus is driving the demand for water-based flocking adhesives.
● The Water-Based Adhesives are in High Demand due to their Eco-Friendly and Safe Properties.
The growing demand for water-based flocking adhesives is being driven by their eco-friendly and safe characteristics. As awareness of environmental concerns and safety regulations increases, industries are shifting towards sustainable adhesive solutions. Water-based adhesives offer several advantages, including low VOC emissions, reduced toxicity, and easy clean-up. These advantages make water-based adhesives a preferred choice, which is consequently fueling the growth of the water-based flocking adhesive market.
● The Rising Demand for Automotive Interior Components
The automotive sector is experiencing a surge in demand for high-quality interior features like dashboards, steering wheels, and seats. Water-based flocking adhesives play a crucial role in enhancing the aesthetics, texture, and comfort of these components. Their ability to provide a velvety or textured surface finish makes them an ideal choice for automotive interior applications. This growing demand for interior components in the automotive industry is a significant factor propelling the growth of the water-based flocking adhesive market.
● High Costs of Raw Materials Hamper the Market Growth
The water-based flocking adhesive market is facing growth hindrances due to the high cost of raw materials. The primary raw materials used in the production of water-based flocking adhesives are water, resins, and solvents. The prices of these raw materials have been steadily increasing in recent years due to factors such as increased demand, supply disruptions, and environmental regulations. The high cost of raw materials poses several challenges for the water-based flocking adhesive market.
Water-Based Flocking Adhesive Market Share (%) By Region, 2023
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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Water-Based Flocking Adhesive Market. The top 10 companies in this industry are listed below:
- Dow (Scotchbond™ Flock Adhesive 9025, Scotchbond™ Flock Adhesive 9225 )
- Campbell Coutts Ltd. (Super Tack Flock Adhesive, Eco-Flock 7000)
- KIWO Inc. (MECOFLOCK D 280 FLEX, MECOFLOCK D 453/5-09)
- Bostik (Flock'it Universal Adhesive, Flock'it Fabric Adhesive)
- NANPAO RESINS CHEMICAL GROUP (NANPAO Adhesive 8888, NANPAO Adhesive 9999)
- 3M (3M Scotch Mounting Adhesive Spray 77, 3M Scotch Flock Adhesive 468MP)
- H.B. Fuller Company (Fuller Flock-It Adhesive, Fuller Flock-It Fabric Adhesive)
- Avery Dennison Corporation ( Flock-it Premium, Flock-it Flock Adhesive)
- Henkel AG & Co. (Henkel Flock Adhesive 1K, Henkel Flock Adhesive 2K)
- Sika AG (SikaMelt, SikaTherm Flock Adhesive)
Scope of the Report:
| Report Metric | Details |
|---|---|
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Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
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CAGR |
7.2% |
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Market Size in 2030 |
$800 million |
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Segments Covered |
Type, Application, End-User and Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
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1. Water-Based Flocking Adhesive Market - Overview
1.1. Definitions and Scope
2. Water-Based Flocking Adhesive Market - Executive Summary
3. Water-Based Flocking Adhesive Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Water-Based Flocking Adhesive Market - Start-up Companies Scenario
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Water-Based Flocking Adhesive Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Water-Based Flocking Adhesive Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Water-Based Flocking Adhesive Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Water-Based Flocking Adhesive Market – by Type (Market Size – $Million/$Billion)
8.1. Acrylic
8.2. Polyurethane
8.3. Polyvinyl Acetate (PVA)
8.4. Epoxy
8.5. Others (Latex)
9. Water-Based Flocking Adhesive Market – by Application (Market Size – $Million/$Billion)
9.1. Surface Flocking
9.2. Flocking of Formed Parts
9.3. Laminating
9.4. Others (Graphic Arts)
10. Water-Based Flocking Adhesive Market – by End-User (Market Size – $Million/$Billion)
10.1. Furniture
10.2. Automotive
10.3. Textiles
10.4. Paper and Packaging
10.5. Others
11. Water-Based Flocking Adhesive Market – by Geography (Market Size – $Million/$Billion)
11.1. North America
11.1.1. The U.S.
11.1.2. Canada
11.1.3. Mexico
11.2. Europe
11.2.1. UK
11.2.2. Germany
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Asia-Pacific
11.3.1. China
11.3.2. India
11.3.3. Japan
11.3.4. South Korea
11.3.5. Australia & New Zealand
11.3.6. Rest of Asia-Pacific
11.4. South America
11.4.1. Brazil
11.4.2. Argentina
11.4.3. Chile
11.4.4. Colombia
11.4.5. Rest of South America
11.5. Rest of the World
11.5.1. Middle East
11.5.2. Africa
12. Water-Based Flocking Adhesive Market – Entropy
13. Water-Based Flocking Adhesive Market – Industry/Segment Competition Landscape
13.1. Market Share Analysis
13.1.1. Market Share by Type – Key Companies
13.1.2. Market Share by Region – Key Companies
13.1.3. Market Share by Country – Key Companies
13.2. Competition Matrix
13.3. Best Practices for Companies
14. Water-Based Flocking Adhesive Market – Key Company List by Country Premium
15. Water-Based Flocking Adhesive Market - Company Analysis
15.1. Dow
15.2. Campbell Coutts Ltd.
15.3. KIWO Inc.
15.4. Bostik
15.5. NANPAO RESINS CHEMICAL GROUP
15.6. Company 6
15.7. Company 7
15.8. Company 8
15.9. Company 9
15.10. Company 10
● "Financials to the Private Companies would be provided on best-effort basis."
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The Water-Based Flocking Adhesive Market is projected to grow at 7.2% CAGR during the forecast period 2024-2030.
The Global Water-Based Flocking Adhesive Market size is estimated to be $480 million in 2023 and is projected to reach $800 billion by 2030.
The leading players in the Water-Based Flocking Adhesive Market are Dow, Sika, 3M, Henkel, NANPAO RESINS CHEMICAL GROUP and others.
High demand for construction industry, the emerging of new water-based flocking adhesives development and high demand for environmentally friendly products are some of the major Water-Based Flocking Adhesive Market trends in the industry which will create growth opportunities for the market during the forecast period.
The automotive industry is experiencing growing demand for interior components such as dashboards, steering wheels and seats are propelling market growth.