The global fabric glue market is estimated to garner a substantial revenue and grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the increasing demand for fabric glue for making disposable hygiene products that are made with woven and non-woven cloth. Along with these, growing usage of the product in the seats of electric vehicles to enhance vehicle safety, coupled with the introduction of multi-purpose glue in the automotive industry for reducing curb weight of the vehicle are also expected to drive market growth in the forthcoming years. Furthermore, ongoing technological advancements in the fabric glue sector, such as development of high-quality acrylic polymer emulsions, is projected to offer ample growth opportunities to the market in the future.
The market is segmented by end use into automotive, medical & hygiene, furnishing, household, textiles, and others, out of which, the medical & hygiene segment is anticipated to witness a notable growth in the near future. This can be accounted to the increasing demand for medical supplies, medical masks, PPE kits and other personal hygiene and paper products in the recent times as a result of the COVID-19 outbreak. According to UNICEF, since the start of the outbreak till July 2021, the organization has sent 301.3 million surgical masks and 22.2 million N95 respirators in 127 countries. Apart from this, the textiles segment is evaluated to acquire the largest share over the forecast period attributing to the wide usage of fabric glue for textile finishing, tailoring, and patching holes in clothes. Additionally, on the basis of type, the permanent segment is predicted to acquire the largest share during the forecast period owing to the high adhesive strength, fast drying speed and excellent water-resistance properties of this type of glue.CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global fabric glue market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to acquire the largest share over the forecast period on the back of rapidly rising urbanization and industrialization in the region. In addition, increase in investments in the fabric glue industry by companies is also projected to fuel market growth in the region in the upcoming years. Moreover, the market in North America is also expected to grab a significant market share during the forecast period, which can be credited to the large presence of textile industry, and growing advancements to develop premium-quality adhesive products in the region. As per the National Council of Textile Organization, the United States is the second largest exporter of textile-related products in the world. Furthermore, textile and apparel shipments in the country were worth USD 64.4 billion in 2020.
The global fabric glue market is further classified on the basis of region as follows:
Our in-depth analysis of the global fabric glue market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing demand for fabric glue to make disposable hygiene products, and growing usage of the product in the seats of electric vehicles to enhance vehicle safety.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2030.
Less awareness about the use of the product in lower economic regions is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rapidly rising urbanization and industrialization in the region.
The major players in the market are Gutermann GmbH, Frameware LLC, Duncan Enterprises Company, Beacon Adhesives, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, sales channel, end use, and by region.
The permanent segment is anticipated to hold largest market size and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.
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