Zipper Market Development, COVID 19 Impact Analysis, Future Business Growth, New Invesment Plans and Forecast to 2024
Research Reports
Jan 12, 2021
Market Highlights
Global Zipper Market Is Estimated to be Valued at USD 16,957.8 Million by 2024 and is Expected to Register a CAGR of 7.64% During the Forecast Period. Zippers are fastening components available in different material types such as metal, nylon, and plastic. Zippers find widespread application in the apparel industry in denims, casual trousers, and jackets, among others. Moreover, zippers are used in backpacks and luggage for their durability. Additionally, there have been innovations in product design and key manufacturers are introducing premium metal zippers to meet the rising demand in luxury jackets and jeans.
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Asia-Pacific was the largest market for zippers in 2018 and the regional market is expected to maintain its dominance during the review period. China accounted for a significant share of the Asia-Pacific zipper market in 2018. However, the zipper market in China is fragmented owing to the high presence of local and regional players. The Indian market is projected to witness large-scale growth during the forecast period. Increasing per capita disposable incomes are a key factor for the rising sales of denim products which is expected to drive the growth of the zipper market in India.
Zippers find widespread application in various products. In terms of application, the apparel segment held the largest market share of 46.01% in 2018. The bags segment also held a significant market share and is projected to register a CAGR of 7.52% during the forecast period. The growing demand for zipper bags and increasing sales of luxury handbags are driving the growth of the bags segment.
Segmental Analysis
The global zipper market has been segmented on the basis of product type, material type, application, and region.
By product type, the market has been divided into close-end and open-end. The close-end segment held the larger market share in 2018 owing to the increased application of such zippers in jeans and trousers. Moreover, the segment is projected to register the higher CAGR of 7.74% during the forecast period due to the increasing demand for close-end zippers in various products.
Based on material type, the global zipper market has been classified as metal, coil, and molded plastic. The metal segment accounted for the largest market share in 2018. Metal zippers are the oldest types of zippers in use. Moreover, the metal segment is estimated to register the highest CAGR during the forecast period. These zippers can endure heavy pressure and load under any circumstances which is driving the growth of the segment.
On the basis of application, the market has been segmented into apparel, bags, shoes, and others. The apparel segment accounted for the majority market share in 2018. The use of zippers in apparel for its functionality and appearance is driving growth. Moreover, the segment is expected to register the highest CAGR during the forecast period.
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Market Players
Market Research Future recognizes 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) and Wenzhou Great Wall Zipper Group Co., Ltd (China) as the key players in the global zipper market.
Regional Analysis
Geographically, the Global Zipper Market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share in 2018, and the regional market is expected to register the highest CAGR of 8.24%. The European market accounted for the second-largest market share in 2018. The market in Europe is estimated to reach USD 4,334.9 Million by the end of 2024, with Germany being the leading market.
Key Findings of the Study
- The global zipper market is projected to reach USD 16,957.8 Million by 2024 at a 64% CAGR during the review period of 2019 to 2024.
- Asia-Pacific accounted for the largest market share in 2018, with China being the major contributor to the growth of the regional market.
- The close-end segment is projected to dominate the global zipper market, by product type, during the forecast
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