Rapid advancements in the textile industry have yielded credible innovations in cloth making and manufacturing. Evolution of binding and sewing techniques have enabled textile giants to produce intricate and diverse material, leading to a major disruption across the clothing and fashion domain.
The aforementioned trend has immensely broadened scope of the fabric glue market in recent years. Fabric glue is an adhesive typically used to bind tough material. Additionally, it is also used to add embellishments to the finished cloth to impart an aesthetic value.
In recent months, fabric glue application has especially increased due to amplified production of personal protective equipment for healthcare workers fighting to eradicate the COVID-19 pandemic. Its strong adhesive attributes ensure longevity and durability of the gear. Moreover, rising demand for hygiene products is also catapulting the fabric glue market.
Increasing consumer spending on personal care products combined with demand for efficient hygiene products are expected to fuel growth of the fabric glue market in the near-term forecast.
Key Takeaways from Fact.MR’s Fabric Glue Market Report
- Global fabric glue market to generate $150 billion by 2030, expanding at over 5% CAGR
- Textile industry to register maximum demand for fabric glue, owing to the need for increasing structural strength
- Asia-Pacific to emerge as a revenue hotspot, attributed to increasing volume of investments in the textile industry
- Permanent fabric glue likely to witness aggrandizing adoption in the 2020-2030 forecast period
- Differentiated offerings to generate lucrative revenue prospects for fabric glue vendors.
Fabric Glue Market- Prominent Drivers
- Fabric glue market is anticipated to perform well in the automotive industry due to the need to enhance vehicular structural strength
- Surging FMCG products demand such as personal & healthcare products and packaged foods is also opening new growth avenues
- Emerging economies such as India & China are expected to be potential investment destinations.
Fabric Glue Market- Key Restraints
- Limited holding and binding capacity is likely to compel consumers to look for alternatives, thereby restraining growth
- Nationwide lockdowns to prevent COVID-19 has impacted uptake across manufacturing industries due to supply chain gaps
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COVID-19 Impact Analysis
Due to COVID-19, there has been a positive impact on the growth of the fabric glue market across certain 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, masks, ventilators, filtration devices, and personal hygiene & paper products.
However, other industries such as automotive and textile have experienced shortfalls due to extended lockdowns and reduced workforce. Lack of adequate footfalls across manufacturing sites has ushered in a contraction of production activities, causing a reduced demand for fabric glue for multiple production processes.
Thus, a V-shaped growth curve is expected to be generated during the near-term forecast period. Growth is expected to revert to normal by 2021.
The fabric glue market is fragmented, with top players accounting for nearly 40 of the 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. Some prominent players in the landscape are Arkema, Pidilite Industries Ltd. and H.B. Fuller Company. These players have a highly influential presence, marketing a wide range of adhesives for various industries.