What is Global Hook & Loop Market?
The Global Hook & Loop Market is an expansive and dynamic sector that deals with the production, distribution, and sale of hook and loop fasteners. These fasteners, commonly known as Velcro, are used in a wide array of applications due to their versatility and ease of use. The market encompasses the production of these fasteners in various materials, including but not limited to nylon, polyester, and other synthetic materials. The market's global reach is vast, with production and distribution channels spread across various continents and countries. The market's value was estimated at US$ 2234 million in 2022, and it is projected to grow to US$ 3113.9 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2029. The largest market share is held by China, which accounts for about 33% of the global market. Europe and North America follow, with market shares of approximately 20% and 12% respectively.
Nylon, Polyester, Others in the Global Hook & Loop Market:
The Global Hook & Loop Market is segmented based on the type of material used in the production of the fasteners. These materials include nylon, polyester, and others. Nylon is a popular choice due to its durability and strength. It is resistant to many environmental factors such as heat and chemicals, making it suitable for use in various industries. Polyester, on the other hand, is known for its elasticity and resistance to wrinkles, making it ideal for use in the apparel industry. Other materials used in the production of hook and loop fasteners include various synthetic materials, each with their unique properties and applications. The choice of material depends on the specific requirements of the application, such as strength, durability, flexibility, and cost.
Footwears & Apparel, Transportation, Industrial, Medical, Others in the Global Hook & Loop Market:
The Global Hook & Loop Market finds its applications in various sectors. These include footwear and apparel, transportation, industrial, medical, and others. In the footwear and apparel industry, hook and loop fasteners are used in items such as shoes and clothing for their ease of use and adjustability. In the transportation sector, they are used in vehicles for securing items and in seat upholstery. The industrial sector uses these fasteners in various applications, including packaging and securing heavy loads. In the medical field, hook and loop fasteners are used in devices such as blood pressure cuffs and patient gowns. Other sectors that use these fasteners include the military and the space industry.
Global Hook & Loop Market Outlook:
The Global Hook & Loop Market is a thriving sector with a promising future. As of 2022, the market was valued at US$ 2234 million. It is projected to grow at a CAGR of 4.8% from 2023 to 2029, reaching a value of US$ 3113.9 million. China holds the largest market share, accounting for about 33% of the global market. Europe and North America follow, with market shares of approximately 20% and 12% respectively. These figures highlight the market's potential for growth and profitability.
| Report Metric | Details |
| Report Name | Hook & Loop Market |
| Accounted market size in 2022 | US$ 2234 million |
| Forecasted market size in 2029 | US$ 3096.1 million |
| CAGR | 4.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Velcro, 3M, APLIX, Kuraray Group, YKK, Paiho, Jianli, Heyi, Binder, Shingyi, Lovetex, Essentra Components, HALCO, Krahnen&Gobbers, Dunlap, DirecTex, Jieji, Tesa, ISHI-INDUSTRIES, Siddharth Filaments |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
