Flock Adhesives - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Flock Adhesives Market size is estimated at USD 2.79 billion in 2024, and is expected to reach USD 3.67 billion by 2029, growing at a CAGR of greater than 5.5% during the forecast period (2024-2029).

The COVID-19 pandemic negatively affected the market for flock adhesives. Due to nationwide lockdowns in several countries, strict social distancing measures resulted in the closure of textile manufacturing plants and automotive plants, thereby affecting the market for flock adhesives. However, the market registered a significant growth rate well after the restrictions were lifted. The market registered a growth rate due to the increasing demand for flock adhesives in automotive, textiles, paper, and packaging applications.

Increasing demand for coated fabrics and finished products, rising demand for lightweight, low carbon-emitting vehicles, and the increasing demand for flock adhesives in the Asia-Pacific region are expected to drive the market for flock adhesives.

On the flip side, volatility in raw material prices is expected to hinder the growth of the market.

The increasing demand for green, sustainable flock adhesives is expected to create opportunities for the market during the forecast period.

The Asia-Pacific region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period due to rising demand for flock adhesives in automotive, textiles, paper, and packaging applications.

Flock Adhesives Market Trends

Textiles Application Segment to Dominate the Market

• The textile is expected to lead the growth of the market. Flock adhesives are used in the textile industry, especially for the flocking of suede fabrics.
• China is the leading producer of textiles in the world. In 2022, China was the top-ranked global textile exporter, with a value of approximately USD 148 billion.
• Similarly, the European Union ranked in second place, with an export value of around USD 71 billion. The export value of textiles is further expected to increase in the coming years, thereby driving the current studied market.
• According to the European Commission, the European Union's textiles ecosystem generates value and opens up opportunities for investment and innovation. Textiles and clothing (T&C) is one of Europe's largest and most diversified industrial sectors, with a workforce of 1.5 million and a turnover of around EUR 162 billion (USD 179 billion). Thus, the increasing market for textile products is expected to drive the market for flock adhesives in the region.
• Additionally, in India, with an increase in foreign direct investment (FDI) in the textile industry from the past decade, the production of textiles is increasing, thus resulting in increased use of flock adhesives. According to the Indian Brand Equity Foundation, India's textile and apparel exports (including handicrafts) from April 2023 to October 2023 stood at USD 21.15 billion. The industry is expected to reach USD 190 billion by 2025-26.
• Furthermore, according to the National Council of Textile Organization (NCTO), the United States is the world's third-largest exporter of textiles. The United States textile industry supplies the US military with over 8,000 textile products. Further, the textile and apparel shipments in the country reached USD 65.8 billion in 2022.
• Thus, the textiles application segment will dominate the market for flock adhesives during the forecast period.

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific region is expected to dominate the market for flock adhesives due to rising demand from the automotive, textile, paper, and packaging applications in the region.
• The production volume of automotive vehicles is increasing in the Asia-Pacific region, with China and India being the major manufacturers. According to OICA, in 2022, the total production volume of automotive vehicles in the area reached 50.02 million, compared to 46.76 million units manufactured in the previous year. Thus, the increase in the production volume of automotive vehicles will drive the market for flock adhesives in the region.
• In India, the demand for automotive vehicles is increasing with the rising population. Thus, various manufacturers have announced their expansion plans to increase the production capacity of automotive vehicles in the country. For instance, in January 2023, MG Motor India announced to invest USD 100 million to expand capacity and register a growth of 70% by the end of 2023. Thus, the growing markets for automotive vehicles in China and India are expected to drive the demand for Flock adhesives during the forecast period.
• Furthermore, in China, the textile industry registered significant market growth. According to the National Bureau of Statistics of China, the textile production volume in China accounted for 38.2 billion meters in 2022, compared to 23.5 billion meters during the same period in the previous year. In December, approximately 3.47 billion meters of clothing fabric were produced in China. Monthly textile production volume was consistently above three billion meters.
• Furthermore, in the Asia-Pacific, the demand for packaged food is growing, owing to lifestyle changes, the growing disposable income of people, the increasing number of working professionals, and the growing preference for fast food. Consumers prefer ready-to-consume foods because they require considerably less time for cooking, are fresh, and have attractive and sturdy packaging, supporting the demand for the market studied.
• Overall, the growth of industries such as automotive, textiles, and packaging will likely drive the market for flock adhesives in the region during the forecast period.

Flock Adhesives Industry Overview

The flock adhesives market is consolidated in nature. Some of the major players in the market (not in any particular order) include Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, Kissel + Wolf GmbH, and Sika AG, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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