Flock Adhesives Market - Forecast(2023 - 2028)

Flock Adhesives Market Overview

The Flock Adhesives Market size is estimated to grow at a CAGR of 5.3% during the forecast period 2022-2027 and reach US$2.6 billion by 2027. Flock Adhesives are the materials that are used for binding various substrates including textiles, plastics, foil, glass, metals, wood, paper and others. They are extensively used in automotive interiors, flocking of garments, carpets and furniture. In the auto industry, Flock Adhesives are used for rigid multi-panel substrates to bond with nylon or polyester flock fibers to polycarbonate, ABS, polystyrene and other metals. Acrylic, polyester, polyurethane, vinyl, epoxy resin and polystyrene are the major resin types used in the flock adhesives industry. Thus, the expansion of Flock Adhesives is primarily driven by its usage in automotive, aerospace and textile applications. In 2020, the surge in the COVID-19 pandemic negatively impacted automotive and aerospace production activities. However, a steady recovery in automotive production activities has been witnessed since 2021, which in turn, is driving the demand for Flock Adhesives. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of vehicles was 80.2 billion units in 2021, with an increase of over 3% as compared to 2020. Thus, an increase in automotive production along with the surging demand from the aerospace industry is expected to drive the growth of the Flock Adhesives Market size in the coming years.

Flock Adhesives Market Report Coverage

The "Flock Adhesives Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Flock Adhesives Market.

Key Takeaways

• The textile segment in the Flock Adhesives Market held a significant share in 2021. In textiles, it can be applied either on the complete surface by spraying or brushing or in parts by screen printing or rotary printing.
• Asia-pacific dominated the Flock Adhesives Market in 2021, owing to its increasing demand from the textile and automotive sectors in the region. According to a report by the Textile Value Chain, China is the major exporter with a total share of over 30% in the global trade in the textile & apparel sectors followed by other countries like India, Bangladesh, Indonesia, Vietnam and Cambodia, in 2021.
• The increase in demand for lightweight materials across the automotive industry for both commercial and passenger to decrease the fuel loads are expected to create a major opportunity for the manufacturers of the Flock Adhesives Industry.

Figure: Flock Adhesives Market Share, by Resin Type, 2021 (%)

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Flock Adhesives Market Segment Analysis – by Resin Type

The epoxy segment held a significant Flock Adhesives Market share of over 30% in 2021, owing to its high tensile strength which ranges from 5,000 to 6,000 psi. Epoxy is an exceptional adhesive for metal, wood, glass, stone and some plastics when compared to other adhesive types. Thus, the usage of epoxy is highly recommended for the automotive and aerospace sectors. Hence, the increase in the aerospace industry, both commercial and passenger, is expected to create demand for the flock adhesive industry. According to the International Civil Aviation Organisation, in 2021, air traffic increased by over 4.5%, thereby creating a demand for more aircraft carriers. This helped surge the demand for aerospace materials.

Flock Adhesives Market Segment Analysis – by End-user

The textile segment held the largest Flock Adhesives Market share of over 30% in 2021, owing to the increasing applications from furniture & home décor to industrial interiors. Flock Adhesives can be used in the textile industry for the lamination of film to paper and fabric. The flocking process in the textile industry involves smearing filament fibers, polyesters and nylon for the final finish of the product. In 2021, according to International Textile Manufacturers Federation, the fabric industry in Turkey increased by over 20%. Thus, a continuous increase in the fabric and textiles industry is expected to increase the demand for the Flock Adhesives industry in the coming years.

Flock Adhesives Market Segment Analysis – by Geography

Asia-pacific held a dominant Flock Adhesives Market share of over 40% in the year 2021. The consumption of Flock Adhesives is particularly high in this region due to its increasing demand from both the automotive and aerospace sectors. According to the International Organization of Motor Vehicle Manufacturers, the fourth quarter of 2020 saw over 25 million, 3.5 million, 8 million and 3.4 million units production of vehicles in China, South Korea, Japan and India, respectively, which contributed to 50% of the total global automobile production in 2020. Thus, this surge in production is expected to drive the growth of the Flock Adhesives Market size during the forecast period.

Flock Adhesives Market Drivers

Growing demand for technical textile in the transportation industry:

Flock Adhesives are used extensively in the technical textile sector. The growth in technical textiles has also increased the demand for flock adhesives. In the automotive sector, it is used for seat covers, airbags, filters, linings, etc. Thus, an increase in the demand and production of vehicles would raise the demand for flock adhesives. As per the German Federal Motor Office, in 2020, sales of automotive brands like Volkswagen increased by over 15% in Germany. Thus, such an increase in production is expected to drive the Flock Adhesives industry during the forecast period.

Surging demand from the automotive sector:

Flock Adhesives are used in interior design components, such as glove boxes, consoles, sliding elements, door gaskets and others. Furthermore, increasing fuel prices have encouraged people to seek lighter vehicles that provide better mileage. According to the German Association of Automotive Industry, in the last quarter of 2020, newly registered motor vehicles increased to 37,467 units in Asia, 17,421 units in North America, 12,733 units in Western Europe, 3,080 units in South America, 16,763 units in Europe and 5,180 units in other regions globally. Moreover, according to the International Organization of Motor Vehicle Manufacturers, the production of heavy-duty vehicles in Europe reached 3,08,300 units in 2021, with a surge of 30% compared to 2020. Owing to these factors, the growth of the Flock Adhesives Market is expected to have a significant demand in the upcoming years.

Flock Adhesives Market Challenge

Fluctuating prices of raw materials:

Some of the raw materials required for the production of Flock Adhesives are obtained from crude oil such as acrylic and epoxy resin which are industrial products derived from petroleum. Thus, the fluctuations in the crude oil process are expected to negatively affect the growth of the market. In 2020, Brent crude prices decreased to US$9.12 per barrel, the lowest record since December 1998. In April 2020, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, the lowest record since February 2002. During the first 11 months of 2020-2021, the average annual price of India’s COB was around US$42.72 per barrel, which decreased by 30% more than the average COB price in 2019-20. Thus, the rate of such uncertainty in terms of pricing would affect the raw material prices that are used in adhesive production within the Flock Adhesives Industry.

Flock Adhesives Industry Outlook

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Flock Adhesives Market. The top companies in the Flock Adhesives Market are:

1. Sika Group
2. CHT Group
3. Lord Corporation
4. Nyatex
5. Dow
6. H.B. Fuller Company
7. Stahl Holdings B.V.
8. Swissflock AG
9. Kissel + Wolf GmbH
10. Avient Corporation

Recent Developments

• In March 2022, Sika Group acquired Sable Marco Inc. (cementitious and mortars manufacturer of Canada), which would boost the retail distribution channel in the Canadian region for the company.
• In April 2021, H.B. Fuller launched two new recyclable adhesive products under its Flextra TM Evolution brand.

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