The global market report on the zipper is showing the potential to surpass a valuation of USD 16,957.8 million by 2024, revealed Market Research Future (MRFR) in their report. This would be backed by a CAGR of 7.64% during the forecast period (2019-2024). The report discusses a lot of potential sectors that could boost the growth of the zipper market. These sectors are apparel, bags, shoes, and others. In the apparel segment, its convenience, and style are getting lauded. Its diversification is also getting backed by various functionalities. Among others, it is getting significant traction from makers of camping gears, pouches, seat covers, and mattresses. This is widening the scope for its operation.
However, in colder regions, some of the models malfunction owing to which the zipper market may lose some clients.
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The global market for the zipper, as discussed in the MRFR report, can be studied on the basis of material type and application. Both these segments have several insights that can be used by market analysts for a better understanding of how it could move forward.
By material type, the global market report on the zipper market can be segmented into metal, coil, and molded plastic. The metal segment is getting substantial backing from various fashion designer brands.
By application, the global market report on the zipper market covers pointers like apparel, bags, shoes, and others. The apparel segment is leading the global market and its worth could surpass USD 7,887.86 million by 2024.
The global zipper market has the Asia Pacific as in-charge. The regional market is the largest one and had almost 40.03% of the global share in 2018. This regional market is also predicted to record growth by 8.24% during the forecast period. China is helming the regional market outcomes. In the region, the production of apparel is growing due to which the market for the zipper would expand substantially.
In Europe, the market has the possibility of reaching a valuation of USD 4,334.9 million by 2024. In 2018, it was Germany that was dominating the regional market. This is happening due to the increasing consumer preference for luxury handbags where the metal zipper acts like an aesthetic booster. The North American market would also benefit from such consumer behaviors. In fact, both these regions have several countries where the temperature could go really low. This gives rise to the adoption of jackets where zippers often work well.
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The global zipper market is getting backed by various strategic developments made by influencing companies like YBS Zipper Group (South Korea), YKK Corporation (Japan), Riri SA (Switzerland), Ideal Fastener Corporation (US), Kao Shing Zipper Co., Ltd. (Taiwan), Max Zipper Co., LTD (Taiwan), Coats Opti (Germany), Salmi Oy (Finland), Triple Power (Fujian) Zipper Co., Ltd. (China), Sancris Linhas e Fios Ltd (Brazil), HHH Zipper (South Korea), Keen Ching Industrial Co., Ltd. (Taiwan), UCAN Zipper USA (US), Fujian SBS Zipper Science & Technology Co. Ltd. (China), Valiant Industrial Co., Limited (Taiwan), YCC Zippers (China), WeiXing Co., Ltd (China), Jinjiang Fuxing Zipper Co. LTD (China), and Wenzhou Great Wall Zipper Group Co., Ltd (China). Product innovation and design are major developmental areas using which these companies are trying to establish their dominance.
In February 2020, YKK launched a new magnetic zipper that is expected to make a significant impact in the apparel sector. This would make the use of zipper less fussy as a lot of people find the locking of zipper quite irritating.