Zippers

Global Zipper Market Outlook

• The global zipper’s market value in 2022 stood at $15.93 billion

• The market is forecast to grow at the CAGR of 7.42 percent to reach $24.48 billion by 2028

• Asia Pacific is the largest Zipper manufacturing geography followed by North America and Europe

• The apparel industry is the key driver of zipper demand (40 percent). The end-users are becoming brand-conscious and fashion-oriented. Hence, there has been an increased demand for high-quality branded zippers and exposed zippers

• Demand from the automobile sector demand (13 percent) is increasing, especially the flame-retardant types that are used in seat covers and other upholstery parts

• The other major demand applications are from the luggage sector (10 percent), which includes handbags, laptop backpacks, school bags, purses, followed by the upholstery sector (10 percent)

• Army, marine, PPE, sportswear, and footwear (27 percent) contribute to the rest of the demand

Global Zippers Drivers and Constraints

Drivers

Apparel End-user Segment

• The apparels industry drives the demand for zippers as a whole; especially, women’s clothing segment fuels the growth in zippers production

• Other demand driving factors are:

–Changing lifestyles

–Increasing disposable income

–Importance given to fashion orientation

Cross Industries’ Demand

The market is driven by other industries, such as:

• Luggage

• Footwear

• Flame retardant garments

• PPE

• Automobile

• Other upholstery industries

Customers’ Preferences & Innovations

• Innovations in improving the design and functionality of zippers boost up the demand

• Air-tight, flame-resistant, water-proof, and exposed zippers open up new avenues for growth in the industry

• Replacement of metal zippers with plastic ones, due to heaviness, and susceptibility to corrosion

Constraints

• Increased price of raw materials, material supply crunch, etc.

• Reduced buying options due to market dominance by a few suppliers

• Risks involved in international sourcing such as increased lead time, receiving damaged items due to improper handling and packaging

• Government restrictions such as trade restrictions, consumer taxation and environmental laws etc.

• The quality and compliance (environmental, labour)of the product differ for developed regions (U.S. and Western Europe) and emerging regions (example - India, China, Brazil) due to which the sourcing operations differs with geographical regions

Major Importers for Zippers: Global

• Vietnam is the largest importer of zippers and its parts.

• The top 10 importing countries account for approximately 59.83 percent of the international trade for zippers

• Asia-Pacific contributes about 58 percent of the total import for zippers

Major Exporters for Zippers: Global

• Vietnam is the largest exporter of zippers.

• The top 10 exporting countries contribute about 62.05 percent of the international trade for zippers

• Major exporters of Asia-Pacific are China, Hong Kong, Japan, Vietnam, Korea, Indonesia