Flock Adhesives Market Share

Asia Pacific industry is poised to hold largest revenue share by 2037. The growth of the market can be attributed majorly to the growth of the regional textile industry owing to the higher demand for textiles by the exponentially rising population, backed by the escalated export and production volumes of the textiles. In the recent period, it was calculated that China was the top-ranked global textile exporter in 2021 with a value of approximately USD 120 billion. Further, Bangladesh is also a leading textile exporter with a value around USD 40 billion. The rise in demand for the vehicles is another growth factor to propel the market growth in the region over the anticipated time frame. Flock adhesives are highly adopted by automotive manufacturers since it is used in the manufacturing of significant automotive parts such as, armrests, fiber insulation, center consoles, seats, gloveboxes, dashboards, and others. Such a higher demand for flock adhesives in the highly developed regional automotive industry is estimated to enlarge the market size over the forecast period. According to the International Organization of Motor Vehicle Manufacturer (OICA), the sales and registration of new vehicles in the Asia Pacific region grew up to 42,663,736 units in 2021, a considerable increment from 2020 with 40,322,544 vehicles.