DUBLIN--(BUSINESS WIRE)--The "Hook and Loop Fasteners Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The hook and loop fasteners market is expected to grow at a compound annual growth rate of 5.6% during the forecast period of 2021 to 2029. The growth is mainly attributable to increased demand by the industrial sector and other end-use industries. Hook and loop fasteners are also called hook and pile fasteners or touch fasteners.
Hook and loop fasteners are made up of two parts: typically two lineal fabric strips (or circular 'dots' or squares), which are joined (sewn or otherwise attached) to the opposite surfaces to be secured. These are often referred to as 'velcro' due to the popularity of the brand 'Velcro'. This report covers all the quantitative and qualitative aspects of the hook and loop market and also focuses on key drivers, restraints, challenges, and opportunities present along with future prospects, revenue forecast, and market analysis.
Medical Sector Application to Boost Demand
The market has been segmented based on the product, type, adhesion, shape, application, and regional basis. Based on the application segment, the hook and loop market is divided into household, footwear and apparel, medical, automotive, industrial sector, and other end-use industries. The market was led by the industrial sector, which was followed by the medical sector. Hook and loops are used in the medical field to secure huge equipment and devices as well as to store patient charts, thereby increasing demand. Other benefits of using hook and loop fasteners in the medical industry include enhanced device handling, increased stability, and enhanced treatment and monitoring outcomes. Further, Hook and loop are particularly common in apparel, where it replaces buttons or zippers, and as a shoe fastener for children who have yet to learn to knot shoelaces.
Increased Application in End-Use Industries Drives Market Growth
Hook and loop fasteners are being utilized for a wide range of applications for which a temporary bond is needed, owing to the easy use. The hook & loop products market is likely to grow soon due to increased demand for cable ties and cinch straps for bundling and fastening wires and cables. These are also used in hiking or sporting equipment to keep together any form of gear for any sport. Furthermore, hook and loop items are utilized in the automobile sector to connect armrests, attach the trim to seats, headliners, and headrests, and apply floor coverings. This is projected to raise demand for hook and loop in the automobile sector in the coming years, propelling the market. Hook and loops are more economical than buttons, zippers, and other substitutes.
Dust Accumulation a Significant Concern
There are some flaws as well: after a few months of frequent usage, hook and loop tend to accumulate hair, dust, and fur. After repeated use, the loops may become enlarged or broken. The hooks are frequently fastened to clothes, particularly loosely woven clothes such as sweaters. Even if the sides are separated carefully, the clothes may be destroyed if the hook-and-loop is removed. It also retains moisture and perspiration when worn adjacent to the skin, which means it will stink if not laundered. As a result, customers in the apparel and footwear industries are shifting toward alternative items such as zippers and shoelaces.
Asia Pacific to Remain Market Leader
The global consumption of hook and fasteners has expanded, with industrial applications being the main consumption sector, aiding hook & loop fastener growth, followed by consumer items. In the worldwide hook & loop fasteners market, North America, Europe, and the Asia Pacific accounted for a major revenue share. The Asia Pacific dominated the market in terms of revenue followed by North America. Factors contributing to the growth of the market in the regions include rapidly increasing demand for hook and loop fixers, notably in China and India, as a result of developing aerospace, the automobile, electronics sectors, along with increased foreign direct investments (FDIs). Growing industrial need for hook & loop fasteners, as well as increased public and private investment in healthcare, are likely to drive hook & loop demand in North America.
- Growing usage in end-to-end industries
- Economical than substitutes
- Accumulates dust particles over time
- Growing preference for zippers, buttons, etc
- Kuraray Group
- Ykk Corporation
- Paiho North America Corporation
- Dunlap Industries INC.
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