This report studies the overall global hook & loop fasteners market covering market growth rates, competitive environment, market drivers, trends and issues. This report mainly details market definitions, types, applications and key players.
Dallas, United States - October 29, 2020 /MarketersMedia/ —
The global hook & loop fasteners market was valued at USD 467.7 million in 2018. Growing demand for hook & loop fasteners in cinch straps and cable ties to bundle and secure cables & wires is expected to support market growth. Additionally, hook & loop fasteners are also used in orthopedic and orthotic devices, as they offer efficient and adjustable joint and limb support. Growing demand for hook and loop fasteners in various medical applications, coupled with the rapidly growing number of surgeries globally are the factors expected to propel the growth of the global hook & loop fasteners market over the forecast period. However, hook & loop products can accumulate dirt and fur in its hooks and can breakdown after prolonged use. Thus, inclining focus towards the use of other alternative products like shoelace or zippers particularly in apparel and footwear industry is an impending threat.
Get more details @ Hook & Loop Fasteners Market
On the basis of product types, the global hook & loop fasteners market is segmented into hook, loop, and mixture. Hook and loop is mixed together on one tape which known as mixture hook & loop fastener. This product witnesses consistently high demand across various industrial and consumer applications and therefore is instrumental in sustaining the market growth. The hook fasteners segment is further categorized into woven, injection, and elastic types; whereas loop fasteners are further sub-segmented into woven, knit, and elastic.
In terms of adhesion type, the global hook & loop fasteners market is segmented into sew on, peel and stick, heat activated. Among these, sew on fasteners are expected to account for significant revenue share over the forecast period. Sew on fasteners offer sturdy adhesion when sewn onto fabrics and can be used as an alternative to snaps, buttons, and zippers. On the basis of shapes, the global hook & loop fasteners market is segmented based on coins and dots, tape, and straps. Coins and dots segment is anticipated to register the fastest growth over the forecast period. This is attributed to its strong adhesion and wide compatibility.
Considering the regional demarcation, the global hook & loop fasteners market is broadly segmented across five regions, including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The use of hook & loop fasteners has increased across the globe, with industrial application being a key consumption area, facilitating the growth of hook & loop fasteners market across the world, followed by consumer products. Asia Pacific accounted for significant revenue share. Rapidly growing demand for hook & loop fastener especially from countries like China and India, owing to growing aerospace, automotive, electronics industries, coupled with rising foreign direct investments (FDIs) are factors contributing to the market growth in the region.
Major players in the hook & loop fasteners market includes Velcro BVBA, 3M, YKK Corporation, Dunlap Industries, Inc., Paiho North America, Lovetex Industrial Corp, HALCO, Krahnen & Gobbers GmbH, APLIX, and Gottlieb Binder GmbH & Co. KG. Among which Velcro BVBA., 3M, APLIX Inc., Kuraray Group and YKK Corporation accounted for a significant position in the global market.
Product Type Overview, 2015-2025
Adhesion Type Overview, 2015-2025 (USD Million)
Peel and Stick
Shape Overview, 2015-2025 (USD Million)
Coins and Dots
Application Overview, 2015-2025 (USD Million)
Military and Government
Regional Overview, 2015-2025 (USD Million)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of MEA
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Name: Ryan Johnson
Email: Send Email
Organization: Adroit Market Research
Address: 3131 McKinney Ave Ste 600, Dallas, TX75204, U.S.A.
Phone: +1 972-362 -8199
Release ID: 88983125