Zipper Market Scope:
Zipper market could record a healthy growth rate of 8.2% between 2021 and 2028, believes Market Research Future (MRFR). MRFR adds that the global market can touch USD 24 billion by 2028.
Zipper Market Major Boosters and Restraints:
As the urbanization rate worldwide continues to rise, consumers are increasingly focusing on aesthetics and maintaining an urbane lifestyle. This has resulted in a massive adoption of various high-end apparels, along with shoes and more. Urbanization remains a key growth inducer within the textile market, fostering the demand for premium bags, shoes, and apparels. The United States is a highly urbanized economy, with majority of the consumer base residing in developed areas. The fast-emerging fashion trends in North America as well as Europe contributes majorly to the market growth. on the other hand, most of the consumers in developing countries are increasingly spending substantial amounts on fashionable and branded apparel, which has raised the preference for high end zippers. Surge in business opportunities as well as travel & tourism worldwide has been favorable for the luggage industry, which also enhances the market size for zippers.
Zippers also find applications in footwear products, sporting goods, and camping gears like sleeping bags and tents, which leaves a positive impact on the global industry. The Zipper Market is also favored the steadily mounting number of manufacturers across Southeast Asia for textile, fashion accessories, and apparel. Innovations in the global market such as chemical resistant zippers, flame-resistant zippers, printed zippers, and soft zippers, will spark the interest of a higher number of consumers in the next few years. Preference for branded footwear, luggage, and handbags will bolster the sales of premium zippers in the following years.
Zipper Market Segmental Review:
The product Types covered in the MRFR market study are open end and close end. The close-end segment has achieved the highest position in the market as these types are increasingly being used in jeans and trousers, which are witnessing robust sales worldwide. As a result, the segment can register a decent growth rate of 7.74% from 2021 to 2027.
The Material Types analyzed in the MRFR report are Coil, Molded Plastic, and Metal. The highest demand is witnessed by the metal segment, which is the most utilized material for zippers. Additionally, the metal segment should capture the fastest growth rate in the ensuing years.
The Applications of zippers are shoes, bags, apparels and more. The apparel segment seized the biggest share of 46.01% in the year 2018, while the bags segment could note impressive growth at a rate of 7.52% during the appraisal period.
Renowned Firms:
YKK Corporation (Japan), Riri SA (Switzerland), YBS Zipper Group (South Korea), Kao Shing Zipper Co., Ltd. (Taiwan), Ideal Fastener Corporation (US), Coats Opti (Germany), Salmi Oy (Finland), Max Zipper Co., LTD (Taiwan), Triple Power (Fujian) Zipper Co., Ltd. (China), HHH Zipper (South Korea), Keen Ching Industrial Co., Ltd. (Taiwan), Sancris Linhas e Fios Ltd (Brazil), Valiant Industrial Co., Limited (Taiwan), UCAN Zipper USA (US), Fujian SBS Zipper Science & Technology Co. Ltd. (China), Jinjiang Fuxing Zipper Co. LTD (China), YCC Zippers (China), WeiXing Co., Ltd (China), Wenzhou Great Wall Zipper Group Co., Ltd (China) are some of the most reputed companies active in the zipper industry.
Most of the firms in the Zipper Market compete on the basis of quality, innovation, and cost. Manufacturers within the organized sector largely complete with respect to brand quality while the vendors in the unorganized sector compete on the basis of lower cost. Technical innovations are also a primary focus area for most of the companies, to develop improved products with better features.
Regional Insight:
Capturing the highest share of 40.03% in 2018, APAC reigns as the market leader and will continue to exhibit remarkable growth at a rate of 8.24% over the following years. China is a strong contender in the region and is bound to grab a considerable share in the upcoming years. The country is known for large-scale production of clothing and a thriving textile industry, which helps foster the progress rate of the Zipper Market.
Europe shall touch USD 4,334.9 Million by 2027 and emerge as a highly promising market for zippers. Germany will retain its leading spot throughout the analysis timeline, given the high consumer preference for luxury handbags that have metal zippers. The booming sales of sporting goods in the region also happens to be a key reason for the stunning market growth.
Recent Developments:
In September 2020, YKK, the leading Japanese fastening systems manufacturing company, launched zippers treated with Polygiene’s ViralOff® technology. The zipper textile treated with the treatment promises to reduce viruses by 99 percent in 2 hours.
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