Fabric Glue Market Insights
The fabric glue market has seen a historical CAGR of over 4% during the period (2015 - 2019), and is further projected to create a valuation of around US$ 150 billion by 2030. The fabric glue market is poised to expand at a CAGR of over 5% during the forecast period (2020 – 2030). Demand for fabric glue for gluing various woven and non-woven fabrics for disposable hygiene products is increasing significantly.
The COVID-19 crisis has been supplemental to the growth in this demand for fabric glue in hygiene products. Increasing consumer spending on personal care products and demand for improvised performance, comfort, and efficient hygiene products are expected to fuel the expansion of the fabric glue market size, considerably.
Fabric Glue Market Drivers
Fabric glue is anticipated to perform well in the automotive industry. The affordability of this type of material and rising consumer awareness and safety concerns are some of the factors that are augmenting growth in demand from the automotive sector. Change of the automotive sector towards environment-friendly cars is expected to transform the industry, and, in turn, highly benefit the fabric glue market space.
Regional Outlook of Fabric Glue Market
The Asia Pacific region dominates the global fabric glue market share in terms of demand, and holds huge potential for substantial growth in terms of demand over the coming years. Increasing investments in South Asia and advent of investments in the ASEAN market for new facilities are expected to be supplemental to the growth of the market. Changing trade agreements are expected to prove beneficial for these investments, and, in turn, boost the growth of the fabric glue market.
Competitive Analysis of Fabric Glue Market
The fabric glue market is fragmented in nature, with top players accounting for nearly 40 of global revenue. The market is moving towards consolidation with increase in dependency of end-use industries on the top brands in the market. Efforts of top players to expand their presence in foreign markets and increased collaborative efforts are expected to aid this movement. Increase in investments of top companies for offering differentiated and innovative offerings is expected to move the global fabric glue market towards consolidation in the long run.
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COVID-19 Impact on Fabric Glue Market
Due to COVID-19, there has been a positive impact on the growth of fabric glue demand in some industries. Based on its application and usage, there has been a rise in demand for fabric glue in the medical and hygiene sector.
The medical & hygiene segment is expected to expand at the highest CAGR in terms of value during the forecast period, owing to an increase in the demand for PPE, medical supplies, medical masks, ventilators, filtration devices, and personal hygiene & paper products.
The market has seen slump in other industries such as automotive and consumer goods, due to extended lockdowns and reduced workforce across multiple industries. The market is expected to show significant growth ahead and portray a V-type recovery.
The Analysts’ Viewpoint
“Investments in innovative formulations and low environment footprint are expected to be primary milestones for long-term returns in the fabric glue market space.”
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Fabric Glue Market: Scope of the Report
The fabric glue market report by Fact.MR offers forecast representation from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats influencing the expansion of the fabric glue market. A detailed segmental analysis based on by function, end use, sales channel, and region has been provided in the report. The report also covers a chapter on the COVID-19 impact analysis, to arm stakeholders with the necessary information.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the fabric glue market. In addition, a section providing detailed analysis of key market players and their strategies has been added.
Fabric glue Market: Segmentation
Fact.MR’s study has done the segmentation of the fabric glue market on the basis of function, end use, and sales channel, across six regions.
- Home Furnishing
- Direct Sales
- Consumer Retail
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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