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Market Synopsis:Market Research Future (MRFR) postulates that the Global Flock Adhesives Market is predicted to garner USD 3,275 million, grabbing a CAGR of 6.04% throughout the appraisal period (2018-2023). Flock is used to define a mass of short fibers which are generally cut from a substance that needs to be pasted onto a substrate. Flock Adhesives are usually used to produce a flawless and a smooth finish in a substrate. The flock is attached electrostatically to the substrate by Flock Adhesives. Several small strands are fired at the substrate which leads to a vertical alignment of the fibers owing to its electric charge, thereby producing an aesthetically and uniform arrangement.
Industry Updates:
November 16, 2018: A market leader in coating solutions and surface treatment for flexible materials, Stahl has recently inaugurated a Centre of Excellence for Performance Coatings in Suzhou, China. This environmentally-friendly center focuses on innovative performance coating solutions for a wide range of materials.
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Competitive Dashboard:
The prominent players operating the Global Flock Adhesives Market are KISSEL + WOLF GmbH (Germany), DowDuPont Inc. (U.S.), Sika AG (Switzerland), Bostik SA (U.S.), Henkel AG & Co. KGaA (Germany), Union Ink (U.S.), Stahl Holdings BV (The Netherlands), International Coatings Company (U.S.), Lord Corporation (U.S.), and H.B. Fuller (U.S.).
Market Potential and Pitfalls:
The Flock Adhesive technique helps to produce a highly homogenous finish that can be customized as per the requirements. While the use of thinner and longer fabrics produces a softer surface, the use of thicker and shorter fibers leads to a brush-like surface. They provide a fissure-free surface and can be easily painted. This offers flock adhesives an advantage over joining technologies and existing adhesives. The widespread customizability and applicability of Flock Adhesives have resulted in their extensive usage in the industrial sector. Flock Adhesive is extremely useful in creating a uniform and a plain print over a wide range of substrate, thereby propelling the market growth globally. The market is also anticipated to acquire high demand form the automotive sector due to the need for aesthetically pleasing surfaces. This is likely to bolster the market growth throughout the appraisal period. Flock adhesive is extensively used in the interiors of automobiles and offers aesthetical appeal besides improving the performance of the automobile. They are used in interior applications such as bonding, laminating, assembling components, and window and door sealing applications. Flock Adhesives also help to reduce the weight of the vehicle, which further limits pollutants and improves fuel efficiency. Such factors are highly contributing to the market growth globally. Additional factors gearing up the market growth are the changing preference of the consumers towards high-value and decorative products.
On the contrary, factors such as volatile prices of the raw materials and global economic slowdown are some of the major concerns predicted to dampen the market growth to a great extent. This poses a risk for the manufacturers and is anticipated to bring down the profit margins gradually.
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Global Flock Adhesives Market: Segmental Analysis
The Global Flock Adhesives Market has been segmented on the basis of Application, Source and Type.
By Mode of Source, the Global Flock Adhesives Market has been segmented into solvent-borne and waterborne adhesives. Among these, the waterborne source occupies 73.2% of the market share as the substrate is highly resistant to water. The segment is likely to touch a valuation of USD 2,412.2 million. On the other hand, solvent-borne adhesives are estimated to be the major contributor, holding a CAGR of 5.63%.
By Mode of Application, the Global Flock Adhesives Market has been segmented into textile, automotive, printing, paper and packaging, and others. Among these, the automotive application is predicted to occupy a major share owing to the increasing use of such chemicals in the bonding of several parts.
By Mode of Type, the Global Flock Adhesives Market has been segmented into acrylic, polyurethane, epoxy, and others. Among these, the polyurethane is predicted to be the major segment and is likely to garner USD 1,366.8 million throughout the forecast period.
Regional Insights:
Geographically, the Flock Adhesives Market span across regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
Among all the regions, the APAC is predicted to dominate the global market, occupying a majority share. The region is presumed to retain its dominance owing to the augmenting automotive sector in this region. The growth of the textile industry in economies like China and India are expected to contribute to the market growth in this region. As per the China Adhesive Association, China has maintained its position as the world’s leading market in terms of consumption and production. The middle-class population has been continuously shifting towards purchasing luxury items like watches, cosmetics, jewelry, and other luxury items. This trend is estimated to trigger the demand for flock adhesives in this region.
The European region is presumed to be a major market and is likely to maintain its dominance throughout the assessment period. The growth is mainly credited to the steady demand from the prosperous automotive industry in this region. The region is predicted to generate USD 765.7 million by the end of the forecast period.
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