What is Global Industrial Hook & Loop Market?
The Global Industrial Hook & Loop Market is a vast and dynamic sector that plays a crucial role in various industries. This market revolves around the production and distribution of hook and loop fasteners, which are commonly known as Velcro. These fasteners are widely used due to their simplicity, versatility, and durability. They consist of two components: a 'hook' side, which is covered with tiny, flexible hooks, and a 'loop' side, which is filled with small, soft loops. When the two sides are pressed together, the hooks catch in the loops, creating a secure fastening that can be easily undone and reused. The global market for these products was valued at US$ 2234 million in 2023 and is projected to reach US$ 3113.9 million by 2030. This growth is driven by the increasing demand for hook and loop fasteners in various sectors, including footwear and apparel, transportation, industrial manufacturing, and medical industries.
Standard Hook and Loop, Mushroom-shaped Hook and Loop, Others in the Global Industrial Hook & Loop Market:
The Global Industrial Hook & Loop Market is segmented into three main types: Standard Hook and Loop, Mushroom-shaped Hook and Loop, and Others. The Standard Hook and Loop is the most common type, accounting for over 50% of the market. It is characterized by its classic design, which features a simple hook and loop mechanism. This type is widely used in various applications due to its reliability and ease of use. The Mushroom-shaped Hook and Loop, on the other hand, features a unique design where the hooks are shaped like mushrooms. This design offers a stronger grip compared to the standard type, making it suitable for heavy-duty applications. The 'Others' category includes various other types of hook and loop fasteners that are designed for specific applications or industries. Each type has its own advantages and is chosen based on the requirements of the application.
Footwear and Apparel, Transportation, Industrial Manufacturing, Medical, Others in the Global Industrial Hook & Loop Market:
The Global Industrial Hook & Loop Market finds its usage in various sectors. In the Footwear and Apparel industry, these fasteners are used as closures for shoes, clothing, and accessories. They offer a convenient and adjustable alternative to traditional fastenings like buttons, zippers, and laces. In the Transportation sector, hook and loop fasteners are used to secure seat covers, floor mats, and other interior components. They are also used in the assembly and maintenance of vehicles. In Industrial Manufacturing, these fasteners are used in the production of various goods, from furniture to electronics. They offer a quick and easy way to assemble parts, manage cables, and secure components. In the Medical industry, hook and loop fasteners are used in a wide range of products, including braces, bandages, and medical equipment. They offer a secure and adjustable fastening solution that can be easily operated by patients and medical staff. The 'Others' category includes various other industries where hook and loop fasteners are used, such as construction, packaging, and sports equipment.
Global Industrial Hook & Loop Market Outlook:
The Global Industrial Hook & Loop Market has shown a promising growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 4.8% from 2024 to 2030. In 2023, the market was valued at US$ 2234 million and is expected to reach US$ 3113.9 million by 2030. This growth can be attributed to the increasing demand for hook and loop fasteners in various industries. The market is dominated by major manufacturers like Velcro, 3M, and APLIX, which collectively account for about 37% of the market. Europe holds the largest market share, accounting for about 30% of the global market. The most common application of hook and loop fasteners is in industrial manufacturing, which accounts for about 24% of the market. The most prevalent type of fastener is the standard hook and loop, which holds over 50% of the market share.
| Report Metric | Details |
| Report Name | Industrial Hook & Loop Market |
| Accounted market size in 2023 | US$ 2234 million |
| Forecasted market size in 2030 | US$ 3113.9 million |
| CAGR | 4.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| 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, ISHI-INDUSTRIES, Tesa, Magic Fastners, Siddharth Filaments Pvt. Ltd. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
