Flock Adhesives Market Segmentation:
The automotive segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the high number of vehicles on the road. The increased utilization rate of flock adhesives to upgrade the status of automotive. It has been observed that by the end of the first quarter of 2022, there were approximately 1.45 billion vehicles on the roads across the globe. In addition, there has been growing demand for electric vehicle across the globe, followed by the surging need to reduce the carbon emission from the vehicles are predicted to drive the segment’s growth in the market. Further, the effect of the burgeoning population is on the rising demand for automobiles to fulfill their needs.
The epoxy segment is expected to garner a significant share. Epoxy resin is one of the most recommended resins for flock adhesives and epoxy is observed to be the strongest adhesive. Hence, the demand and production of epoxy resin are growing exponentially, which is further expected to propel the segment growth over the forecast period.
Our in-depth analysis of the global flock adhesives market includes the following segments:
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