There are two sides in hook and loop. The side of hook is the scratchy and rough while the side of the oop is soft and weak. When combined hook and loop side, forms a bond which is tensile, and can be pulled apart when required. These products consist of different kind of materials like polyester, nylon, and polypropylene which is called monofilament material.
Monofilament is a manufactured fiber that used to manufacture medical sutures and fishing line. Nylon is exceptionally durable, heavy, and lightweight. It can withstand variable temperature but is affected by water and UV rays. On the other hand, polyester is resistant to water and UV rays but has a much lower tolerance when exposed to elevated temperatures.
Market Scope and Structure Analysis
The rise in demand for clothing and outerwear, as the hot temperature, connected with the growing income is a factor in the development of the hook and the loop market. The rise in demand for hook and loop products with shoes, specifically in the group of children and the elderly, because of comfort and comfort are the factors that accelerate the need for hook & loop products in the shoes industry.
Increased demand hook & loop products such as cables, and cement cables for tying and protecting ropes and cables are expected to boost the market growth in the upcoming years. In addition, hook & loop industry products face an increased demand in the field of medical to perform a few functions such as managing patient charts, protecting large machines, and devices that also promote global market growth
COVID-19 Impact analysis.
- The impact of the coronavirus outbreak caused temporary shutdown of different operation, production and supply chain process in the hook and loop market.
- Industries related to the use of hook and loop market are more likely to go backwards, which leads to decrease the growth of the hook and loop market.
- The temporary suspension of rubber, wood processing, plastic, paper, automotive, glass, electrical & electronics in the first half of 2020, affected the production of hook and loop, as this industry is the major end user of the same.
- However, in industries related to the use of these markets product are likely to be back on track, therefore, leading to greater growth of the hook and loop market in the coming years.
- Hooks and loops are used in the medical field to protect equipment and tools and to maintain patient charts, thus these sectors gave breathe to hook and loop industry during COVID-19 also.
Top Impacting Factors
- The market was dominated by the industrial sector, followed by the medical sector. Hooks and loops are used in the medical field to protect equipment and tools and to maintain patient charts, thus increasing the demand.
- Benefits of using hooks and loop fasteners in the medical industry include advanced device management, increased stability, and treatment & monitoring outcomes.
- The market for hook & loop products is likely to grow soon due to the increase in demand for rope ties and cinch belts for wrapping and tightening ropes and cords. These are also used in mountains or on sports equipment to keep together with any type of gear for any sport.
- Hook and loop materials are used in the automotive sector to connect armrests, attach trim to seats, headers, and headrest, and install floor coverings. This is expected to increase the demand for car companies in the coming years, which keeps the market afloat. Hooks and loops are more expensive than buttons, zippers, and other replacements.
- The use of hook & loop fasteners has increased worldwide, and industrial use is a major consumer, facilitating the growth of the hook & loop fasteners market globally, followed by consumer products.
- The rapidly growing demand for hook & loop fastener from countries such as China and India, due to the growth of the aerospace, automotive, electronic, combined with foreign direct investment (FDIs) are factors that contribute toward the market growth in the region.
- In July 2021, Kuraray Group, announced its decision to increase prices for MAGIC TAPE, MAGILOCK and other hook and loop fastener products for shipment.
- In June 2021, Aplix, launched “Recyclable Tribal Petfood Packaging”, which is designed for dry food packages
Key Benefits of the Report
- This study presents the analytical depiction of the Hook and Loop Products Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Hook and Loop Products Market.
- The current market is quantitatively analyzed to highlight the Hook and Loop Products Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Hook and Loop Products Market based on competitive intensity and how the competition will take shape in coming years.
Hook and Loop Products Market Report Highlights
By End-User Industry
By Electrical & Electronics Application
Key Market Players
Dunlap Industries INC., APLIX, Paiho North America Corporation, Binder, DirecTex, Kuraray Group, HALCO, 3M, Shingyi, Heyi, Velcro., Ykk Corporation