Global Hook & Loop Fasteners Market, Size, Trends & Analysis with Covid-19 Impact - Forecasts To 2026 By Product Type (Hook, Mixture, Loop), By Shape (Tape, Coins & Dots, Straps), By Application (Consumer Products, Healthcare, Household, Military and Government, Others), By Adhesion Type (Heat Activated, Sew On, Peel and Stick), By Region (North America, Europe, Asia Pacific and Rest of the World); and Company Market Share Analysis & Competitor Analysis
In the forecast timeframe from 2020 to2026, a higher compound annual growth rate will raise the global demand for hook & loop fasteners. Hook-and-loop, hook-and-pile fasteners touch fasteners, consist of two components: usually, two linear fabric strips (or circular dots or squares) which are connected to the opposite surface to be fastened. Hook & loop goods are a replacement for traditional attachment techniques. It can be disabled up to 10,000 times again. These materials are used for the mounting of heavy items and the mounting of lighter objects. The hook & loop helps users to change the cables comfortably. Some of the main determinants expected to raise demand for hook & loop fasteners are the increased demand for healthcare applications, along with the rising demand for tracking devices due to the increasing prevalence of cardiovascular diseases. Moreover, the growth of the industry is also affected positively by the increasing number of surgeries across the globe. Furthermore, the factors affecting the growth of the market in the forecast period are increased demand for hook & loop for cable ties and cinch straps for bundling and wrapping cables which is anticipated to drive the market for hook & loop fasteners. However, the tendency to focus on the use of other alternative products such as shoelaces or zippers, especially in the clothing and footwear industry is likely to impede market growth during the projected period.
The industry is classified into adhesion type-based segments of adhesion: heat enabled, sew-on, peel, and stick. In all adhesion types, the sewing on fasteners division is estimated to have more market revenue than the other segment. When sewn on fabrics, sewn on fasteners have good adhesion and can be used as an alternative to snaps, buttons, and zippers.
According to the category analysis, this market may be described in three categories: hook, mixture, and loop. It is expected that the hook peroxide segment division will contribute more to the sector's worldwide sales across all product categories. It experiences consistently high demand across different industrial and consumer applications and is therefore instrumental in maintaining market development. It is further segregated into woven, elastic, and injection.
This market can be expressed in three sections, depending on the shape, including tape, coins and dots, and straps. The market for the application of the coins and dots segment was anticipated to contribute more to global revenue in this business field. This is due to its strong adherence and it is expected that general usability will drive the growth of the market.
The market for hook & loop fasteners is divided into Europe, North America, Asia Pacific, the Middle East, and Africa & CSA, based on the geographical region. The North American area is expected to contribute high to global revenues over the coming years. This is due to the high demand from industrial applications and rise in demand in the area being driven by government investments. Owing to the growing demand in countries such as India and China from the electronics industries coupled with FDIs, the market for Aisa Pacific will be growing the fastest during 2020-2026.
The key players competing in this market are Velcro BVBA, YKK Corporation, Paiho North America, HALCO, APLIX, 3M, Dunlap Industries, Inc., Lovetex Industrial Corp, Krahnen & Gobbers GmbH, and Gottlieb Binder GmbH & Co. KG., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Hook & Loop Fasteners Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Hook & Loop Fasteners Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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