Flock Adhesives Market Trends

Growth Drivers

• Boom in the Automotive Industry – As per recent statistics, the revenue generation by the global automotive industry by 2030 is projected to reach USD 9 trillion.
  The rise in consumer preference for vehicle comfort, coupled with the need for quality vehicle interiors, is expected to augment the sales of flock adhesives in the assessment period. Furthermore, the slip free force transmission, elimination of noise, and enhanced heat insulation provided by flock adhesives are other factors that are expected to expand the market’s growth.

• Higher Demand for Flock Adhesives in the Construction Industry - The revenue collected by the global construction industry was almost USD 2 trillion in 2019. Flock adhesives are leading binding materials, highly utilized in the binding several substrates, for instance, metals, plastic, rubber, and others. This is the major factor that makes it suitable to be used in the construction industry, and it is anticipated to drive the growth of the global flock adhesives market.

• Rise in Sales and Production Volume of Electric Vehicles – The International Energy Agency stated that global electric car sales reached to almost 3 million in 2020, an increase from 40% from 2019.

• Growth in the Electronics Industry Across the Globe – As per recent estimates, the revenue generated by the U.S. electronics industry in 2019 stood up at USD 300 billion.

Challenges

• Presence of Toxic Properties in Flock Adhesive – The raw materials used in manufacturing flock adhesives is generally toxic in nature. As a result, they are hazardous to human health as well as environment. There, the usage of toxic materials can be posed as a challenge in the market growth.
• Inhalation of the Chemical can be Hazardous to Health
• Stringent Rules by the Government