Asia Pacific is projected to lead the global flock adhesives market

The global flock adhesives market is projected to grow from USD 2.35 Billion in 2017 to USD 3.18 Billion by 2022, at a CAGR of 6.3%. Applications of flock adhesives are increasing due to the increasing requirement for bonding dissimilar materials, substituting traditional materials with synthetic substrates, and increasing focus on reducing VOC emissions. From an engineering and design perspective, adhesives are valued because of their ability to bond dissimilar substrates, resist vibration, and distribute stresses over a wide area. 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.

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The Asia Pacific, Europe, and North American regions are the major markets for flock adhesives. Asia Pacific has emerged as the leading customer of flock adhesives owing to the increasing demand from various applications in the region, increasing disposable income, and easy access to resources. The growth of the flock adhesives market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fueled by the rising investments in the infrastructure required for establishing manufacturing facilities for flock adhesives in the country.

According to China Adhesive Association, China has maintained its position as the world’s leading market of flock adhesives, in terms of production and consumption. The growing middle-class population is one of the major drivers for the flock adhesives market in Asia Pacific (particularly China). The middle-class population in countries such as China and India have been shifting towards purchasing luxury products such as cosmetics, watches, jewelry, and other luxury items. This trend is further expected to increase the demand of flock adhesives, as flocks are extensively used in improving the aesthetics of luxury products.

Key players profiled in the report are Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), Kissel + Wolf (KIWO) (Germany), LORD Corporation (US), Nyatex (US), Stahl Holdings (Netherlands), International Coatings (US), and Gemteks Tekstil Boyalari (Turkey), among others.

Dow Chemical (US) has a strong position in the flock adhesives market and its consumer solutions business segment has a global presence. The company adopted partnerships & collaborations as a key strategy to enhance its position in the flock adhesives market. In June 2016, Dow Automotive and Aston Martin formed a technical partnership which is expected to facilitate an expansion of their collaborative development efforts. As a part of this partnership, a broader portfolio of Dow Automotive, including flock adhesives, will be utilized for Aston Martin production models and race cars. The company provides flock adhesives with a strong focus on green technologies in comparison to other companies. Dow Chemical also offers multiple brands of flock adhesives such as MOR-FLOCK and POLYFLOCK.

Sika AG (Switzerland) adopted the strategy of mergers & acquisitions to strengthen its position in the flock adhesives market. In 2015, Sika acquired Axson Technologies (US), a leader in the formulation of adhesives, composite materials, and encapsulation. The company has plans to expand its revenue and geographical presence with this acquisition and enhance its flock adhesive product offerings. Sika AG offers a wide range of flock adhesives under the brand names SikaMelt, SIKASENSE, and SikaTherm for automotive applications.

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Automotive Application to Dominate Flock Adhesive Market Between 2017 and 2022

The global flock adhesives market is projected to grow from USD 2.35 billion in 2017 to USD 3.18 billion by 2022, at a CAGR of 6.3% in terms of value. Factors driving the growing use of the flock adhesives market are the increasing demand for lightweight and low carbon emitting vehicles and high demand for flock adhesives from the Asia Pacific region.

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Automotive is one of the largest application areas of flock adhesives. Flock adhesives play an important role in improving the aesthetics and performance of automobiles. The growth of the flock adhesives market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fueled by the rising investments in the infrastructure required for establishing manufacturing facilities of flock adhesives in the country.

The automotive segment will continue to represent the bulk of the demand for flock adhesives due to the increasing requirement for bonding dissimilar materials, substituting traditional materials with synthetic substrates, and increasing focus on reducing VOC emissions. From an engineering and design perspective, flock adhesives are valued because of their ability to bond dissimilar substrates, resist vibration, and distribute stresses over a wide area.

Technological advancements in the end-use industries are fueling the demand for flock adhesives in the North American and European markets. Less cure time and increased performance benefits offered by flock adhesives, such as high-performing seals, better adhesion to a variety of substrates, and resistance to chemicals & gas are boosting the market. For the past few years, energy prices in North America have increased, affecting end-user expenses. Therefore, the end users are more interested in new or different technologies and products that can help them counter the rising energy expenses. For instance, flock adhesives play a major role in reducing the weight of the vehicles, which results in energy conservation and subsequently in reducing energy expenses. This is a major factor which is driving the demand for flock adhesives and their technologies, especially the electrostatic technology that meets the energy efficiency requirements.

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Asia Pacific is the leader in terms of consumption of flock adhesives. Stringent environmental regulations to reduce the weight of automobiles, increasing demand for luxury products, and increasing screen printing in textile applications have led to the early adoption of flock adhesives in Asia Pacific. The market for flock adhesives is projected to register the highest CAGR in Asia Pacific in the next five years.

Expansions Was the Key Growth Strategy Adopted by Industry Players in the Global Roofing Chemicals Market

The global roofing chemicals market is projected to reach USD 106.83 Billion by 2026, at a CAGR of 7.3% from 2016 to 2026. The growing demand from major application industries such as building & construction, and other industrial applications in emerging economies, is driving the global roofing chemicals market.

Expansions were the key growth strategy adopted by industry players in the global roofing chemicals market. This strategy accounted for a share of 37%, between 2011 and 2016, of all the growth strategies adopted by market players. Besides expansions, companies are investing in new product developments to expand their roofing chemicals portfolios across the world. The new product development strategy accounted for a 33% share of all the development strategies between 2011 and 2016. Companies are also focusing on the mergers & acquisitions strategy which accounted for a 24% share between 2011 and 2016. The Asia-Pacific region was the most active region from 2011 to 2016, in terms of strategic initiatives, and expansions was one of the preferred strategies.

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Major manufacturers such as BASF SE (Germany), The Dow Chemical Company (U.S), Saint-Gobain S.A. (France), 3M Company (U.S), Akzo Nobel N.V (The Netherlands), Sika AG (Switzerland), Owens Corning (U.S), Carlisle Companies Incorporated (U.S), Johns Manville (U.S), GAF Materials Corporation (U.S) and Firestone Building Products (U.S) are profiled in this report. These companies have adopted both, organic and inorganic growth strategies.

BASF SE (Germany), The Dow Chemical Company (U.S), Saint-Gobain S.A. (France), 3M Company (U.S), and Akzo Nobel N.V (The Netherlands) are among the most active players in the global roofing chemicals market.

The Dow Chemical Company (U.S) is the most active player in the roofing chemicals market. It accounted for the largest share of all the developmental activities undertaken in the roofing chemicals market. As a part of its strategy, the company focuses on expanding its roofing chemicals business by investing in new product development activities, mergers & acquisitions, and expansions. In December 2015, The Dow Chemical Company (U.S.) and DuPont (U.S.) announced a merger with a definitive agreement under which the companies combined in an all-stock merger of equals. The combined company was named DowDuPont. In October 2014, Dow‘s Construction Chemicals, a subsidiary of The Dow Chemical Company, launched a new technology, which meets the growing demand for energy-efficient cool reflective roof coatings or cool roofs in the Middle East.

Another company that has established a strong foothold in the global roofing chemicals market is Sika AG (Switzerland). The company is focused on both, organic and inorganic growth strategies. Sika expanded its R&D activities by opening a state-of-the-art research facility in Preston in Northwest England. The company has continued to invest in the roofing chemicals business with the aim of the development of technologically advanced and environmentally friendly roofing membranes. Further, in February 2014, the company acquired Lwart Química Ltd. (Brazil), a leading manufacturer of waterproofing systems in Brazil. This acquisition has strengthened Sika Group’s position in the Brazilian construction chemicals market.

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Roofing Chemicals Market by Type (Acrylic Resin, Asphalt/Bituminous, Elastomer, Epoxy Resin, and Styrene), Application (Membrane, Elastomeric, Bituminous, Metal, and Plastic Roofing Materials) – Global Forecast to 2026

Dow Chemical (US) and Sika AG (Switzerland) are the Key Players in the Flock Adhesives Market

The global flock adhesives market is projected to grow from USD 2.35 Billion in 2017 to USD 3.18 Billion by 2022, at a CAGR of 6.3% in terms of value. Factors driving the growing usage of flock adhesives are the application expansion achieved through the improved quality of flock adhesives and increased demand for coated fabrics and luxury products globally. The growth in applications, especially in the emerging markets of Asia Pacific and the shift in consumer preference toward high-quality standard and decorative end–use products such as luxury packaging are driving the growth of the flock adhesives market. However, the macro factors such as the global economic slowdown and volatile raw material prices could affect the market growth.

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Key players in the flock adhesives market are Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), Kissel + Wolf (Germany), and Lord Corporation (US), among others. These players have adopted various strategies to expand their global presence and increase their shares in the flock adhesives market. New product launches, expansions, partnerships & collaborations, and mergers & acquisitions are some of the major strategies adopted by the market players to achieve growth in the flock adhesives market. These players have established their brands and are associated with different resin types of flock adhesives, such as acrylics, polyurethanes, epoxy resins, polyvinyl acetate, and ethylene vinyl acetate.

Dow Chemical (US) has a strong position in the flock adhesives market and its consumer solutions business segment has a global presence. The company adopted partnerships & collaborations as a key strategy to enhance its position in the flock adhesives market. In June 2016, Dow Automotive and Aston Martin formed a technical partnership which is expected to facilitate an expansion of their collaborative development efforts. As a part of this partnership, a broader portfolio of Dow Automotive, including flock adhesives, will be utilized for Aston Martin production models and race cars. The company provides flock adhesives with a strong focus on green technologies in comparison to other companies. Dow Chemical also offers multiple brands of flock adhesives such as MOR-FLOCK and POLYFLOCK.

Sika AG (Switzerland) adopted the strategy of mergers & acquisitions to strengthen its position in the flock adhesives market. In 2015, Sika acquired Axson Technologies (US), a leader in the formulation of adhesives, composite materials, and encapsulation. The company has plans to expand its revenue and geographical presence with this acquisition and enhance its flock adhesive product offerings. Sika AG offers a wide range of flock adhesives under the brand names SikaMelt, SIKASENSE, and SikaTherm for automotive applications. The company offers both water-based and solvent-based one-component and two-component flock adhesives to cater the demand from the automotive industry.