Flock Adhesives Market Analysis

The global flock adhesives market is segmented and analyzed for demand and supply by application into automotive, textile, printing, paper & packaging, and others. Out of these types of segments, 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 International Organization of Motor Vehicle Manufacturers (OICA) estimated that the global sales of vehicles in the year 2021 rose to 82,684,788 units from 78,774,320 units in 2020; whereas, the global production was calculated to be 80,145,988 vehicles in 2021, an increase from 77,711,725 vehicles in 2020.

The global flock adhesives market is also segmented and analyzed for demand and supply by type into polyurethane, acrylic, epoxy, others. Among these segments, 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. For instance, the total production of epoxy resin in Japan was projected to be around 120 thousand tons solely in Japan which was a rise from 100 thousand tons in 2020. Additionally, the demand for epoxy resin in Asia Pacific is projected to hit approximately USD 650 million by 2025. 

Our in-depth analysis of the global flock adhesives market includes the following segments: