Flock Adhesives Market size is projected to grow from USD 2.22 Billion in 2016 to USD 3.18 Billion by 2022, at a CAGR of 6.3% in terms of value. 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.
Download PDF to know more @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=240810348
The flock adhesives market has been segmented on the basis of resin type, application, and region. Among resin types, the acrylics segment is projected to grow at the highest CAGR in the flock adhesives market during the forecast period. This is due to their increasing use in metal and plastic substrates, mainly in automotive applications. Acrylic-based adhesives provide a durable and water-resistant film when bonded to substrates such as plastics, metals, fabrics, carpet, ceramics, concrete, and wood composites. Acrylic-based adhesives are also used due to their adaptability to different substrates. These adhesives can also be used for sealing the edges of wood composite boards before water-based coatings or paints are applied.
The polyurethane segment is projected to lead the flock adhesives market during the forecast period from 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 a fissure-free coated surface for a long period of time.
Volatility in raw material costs poses a risk for flock adhesives manufacturers and is expected to bring down the profit margins. The flock adhesives market is also affected by the high transport costs driven by the rising fuel prices and high manufacturing costs resulting from the increasing energy costs.
Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), and Kissel + Wolf (Germany), among others, are the leading companies operating in the flock adhesives market. These companies are expected to account for significant shares of the flock adhesives market in the near future.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
No comments:
Post a Comment