Hook & Loop Products Market Introduction
- Hook & loop products are a substitute to conventional attachment methods. These products consist of hooks and loops which can be closed and opened frequently for repeated closure.
- Hook & loop products can be removed again up to 10,000 times. These products are used for mounting heavy objects as well as mount objects of lighter weight. In addition, hook & loop allow users to comfortably stow away cables.
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Hook & Loop Products Market: Dynamics
- Increase in demand for hook & loop for cable ties and cinch straps for bundling and securing of wires and cables is expected to boost the hook & loop products market in the near future.
- Additionally, in medical field, hook & loop products are used for performing various tasks such as holding patient charts, securing large equipment and devices, which, in turn, is likely to increase the demand for hook and loop products in medical industry in the next few years.
- Furthermore, in hiking or sporting equipment, hook & loop products are utilized to hold together any type of gear for any sport, indoor or outdoor. This, in turn, is projected to drive the global market.
- The hook & loop products are employed to secure clothing and footwear. This is anticipated to boost the market in apparel and footwear industry.
- Moreover, hook & loop products are used in the automotive industry to connect arm rests and to attach trim to seats, head liners, and head rests, as well as to install floor coverings. This is likely to increase the demand for hook & loop products in the automotive industry in the next few years, thereby driving the market.
Availability of Alternative Products Hindering Hook & Loop Products Market
- Hook & loop products accumulate hair, dust, and fur in their hooks after a few months of regular use and becomes elongated or broken after extended use, due to these customers are moving toward alternative products such as zippers and shoelace in apparel and footwear industry. This, in turn, is expected to hamper the hook & loop products market during the forecast period.
North America to Hold Major Share of Global Hook & Loop Products Market
- North America dominated the global hook & loop products market in 2018. The U.S. accounted for more than 50% share of the market in the region in 2019.
- The hook & loop products market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, followed by Europe and North America. This can be attributed to rise in foreign direct investments (FDIs) and technological advancement in the developing economies of Asia Pacific.
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Hook & Loop Products Market: Competitive Landscape
Kuraray Co., Ltd
Established in 1926, Kuraray Co., Ltd is located in Tokyo, Japan. The company manufactures and designs synthetic and chemical fibers. Also, it offers man-made leather, special resin, non-woven fabrics, and fine chemicals used as industrial and apparel materials. Furthermore, it manufactures medical and pharmaceutical products such as dental-care and dialyzers products. Moreover, the company manufactures and sells hook & loop products.
Founded in 1934, YKK Corporation is situated in Chiyoda, Tokyo, Japan. YKK Corporation manufactures and develops fastener products. The company provides hook & loop fasteners, zippers, snaps, fabric tapes, and buttons. Furthermore, it designs products for machinery, architectural, engineering development, and other businesses.
Founded in 1951, Velcro Inc. is situated in Manchester, New Hampshire, England. The company manufactures and designs hardware products. It offers non-woven loop material made for disposable applications, adhesives, electrical systems, and double-faced loops. Furthermore, it serves industries including packaging, medical & healthcare, apparel, and personal care. The company’s VELCRO Brand hook & loop is used for applications ranging from agricultural to industrial cleaning to transportation.
Other key players operating in the global hook & loop products market include:
- Paiho North America Corporation
- Jianli Sticky Ribbon Co., Ltd.
- Gottlieb Binder GmbH & Co. KG
- LOVETEX INDUSTRIAL CORP.
- Essentra plc
- HALCO Europe Ltd.
- Siddharth Filaments Private Limited
- Dunlap Industries INC.
- tesa SE
- Krahnen & Gobbers GmbH
Hook & Loop Products Market: Segmentation
Based on product type, the global hook & loop products market can be segmented into:
- Continuous Injection
In terms of application, the global hook & loop products market can be divided into:
- Footwear & Apparel
- Industrial Manufacturing
Based on end-use industry, the global hook & loop products market can be segregated into:
- Wood processing
- Electrical & Electronics
The hook & loop products market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The hook & loop products market report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on the hook & loop products market segments and geographies.
Regional Analysis of Hook & Loop Products Market Includes:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.