Rising Automotive and Mattress Industries Fuelling Fabric Glue Market
Additionally, the demand for the fabric glue is expected to rise due to the rising demand for the mattress. As per the data of TheRoundup, the global mattress market is worth US$ 30.81 billion. Also, as per the projection, the demand for mattresses is expected to reach the mark of US$ 64 billion by the end of 2030. Thus, due to the rising mattress and automobile industry, the demand for fabric glue is expected to rise.
Increasing Demand for Industrial and Textile Goods Accelerate the Fabric Glue Market
Furthermore, the expansion of the fashion and textile industry drives the fabric glue market by increasing demand for adhesives used in custom clothing, fast fashion, event-driven fashion adjustments, and the incorporation of advanced and sustainable textile technologies. Also, according to the data of Textile Exchange, global fabric production is rising and is expected to reach 147 million tons by 2030, whereas in 2022 it was valued at 116 million tons. Thus, rising demand for the textile and fabric industries is expected to boost the market for the fabric glue industry.
Recent Trends in the Fabric Glue Industry:
- For quicker project completion and improved efficiency, inventions in fast-drying glues are focused.
- Development of advanced formulations for stronger and more durable fabric bonds.
- Introduction of ergonomic, precision applicators and easy-to-use packaging to simplify application and reduce waste.
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Rising Environment Awareness and Alternatives Acts as Restraining Factors
Also, the fabric glue market gets affected due to the available alternatives, such as sewing, double-sided tape, fusible interfacing, fabric-specific adhesives, epoxy and resin-based adhesives, hot glue, and textile adhesive sprays. All alternatives offer the same level of durability as well as quick bonding. Thus, due to the available substitute, the market for fabric glue is hampered.
Major Acquisitions Drives the Fabric Glue Market Demand
In October 2020, Pidilite acquired Huntsman Group's Indian subsidiary for US$ 21 billion. Pidilite Industries, the manufacturers of the popular Fevicol brand of adhesives, had signed a definitive agreement to acquire the US-based Huntsman Group's Indian subsidiary. The Board of Pidilite Industries Limited had approved the definitive agreement with Huntsman Group (USA) to acquire a 100% stake in one of their subsidiaries in India, namely, Huntsman Advanced Materials Solutions Private Limited (HAMSPL).
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North America and Asia Pacific Remains Promising Markets for Fabric Glue Market
Asia Pacific is also considered a lucrative market for the mattress market due to the rising demand for the mattress. According to The Roundup, Asia Pacific holds a total of 39 percent of the global mattress market, where the demand is driven by both India and China. Also, North America is ranked second in the list, where it holds a global market share of 24 percent. Thus, due tothe rising demand for mattresses, the demand for fabric glue is expected to rise in the Asia-Pacific region. Thus, with rising demand for the mattress and automotive sectors, it is expected that the market for fabric glue will boom.
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Regions | Countries |
---|---|
North America | United States, Canada |
Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Austria, Sweden, Norway, Denmark, Finland, Ireland, Rest of Europe |
Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Vietnam, Thailand, Rest of Asia Pacific |
Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Morocco, Algeria, Israel, Iran, Kenya, Turkey, Rest of MEA |
Fabric Glue Market Research Report Covers In-depth Analysis on:
- Fabric glue market detailed segments and segment-wise market breakdown
- Fabric glue market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in fabric glue industry)
- Current, historical and forthcoming 10 years market valuation in terms of fabric glue market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Fabric glue market demand analysis
- Fabric glue market pricing analysis over forecast period (by key segment and by region)
- Fabric glue market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in fabric glue market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in fabric glue market
- Fabric glue market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on fabric glue market forecast by countries
- Mergers and acquisitions in fabric glue market
- Essential information to enhance market position
- Robust research methodology