The global market for Zippers is projected to reach US$19.8 Billion by 2024, driven by changing fashion trends and growing demand from markets such as apparel, footwear and luggage.
Zippers are mechanical devices or accessories that are used to temporarily join two edges of a fabric. Zippers are mundane products yet indispensable in a range of end-use products in textile, fashion, travel gear and other industries. Playing a dual role of securing the garment or other products and as decorative accents, zippers are ubiquitous in a range of products from pants, jackets, boots, tents, backpacks, luggage, to purses, handbags, wallets, pencil cases and many other items. Simple design advancements in zip fasteners have over the decades helped revolutionize the art of garment designing, and have greatly impacted the manner in which clothing is made to fit the human body. Changing trends in fashion, constant demand for new designs, increasing westernization of fashion in developing countries and strong growth in demand for various end-use products are the major factors driving growth in the market. Growth in the market also expected to emerge from evolving functional and decorative requirements of zip fasteners in sync with people's ever changing taste and preferences in clothing styles and fashion accessories. Growing economies, increasing incomes and improving living standards are resulting in heightened fashion consciousness, which in turn are expected to drive demand for zippers.
While the basic zipper technology or working has not undergone significant changes over several decades, innovations continue to emerge with players constantly focusing on improvements in functionality, novelty and fashion. Recent innovations include newer technologies such as air tight, waterproof and flame-resistant zippers with a focus on enhancing their utility for scuba divers, aircrew and astronauts. Growing emphasis on using environmentally benign products led to the development of eco-friendly zippers. At the technology level, launch of new products such as magnetic zippers with extremely powerful magnet at both ends that allow one-handed closure and opening are driving innovation in the sector in turn fueling demand for zippers. While largely a volume business, growing emphasis on quality and expanding business in the more profitable high-end business market is driving manufacturers to focus on product customization to adhere to clients' specific requirements, which is favoring growth in growth in value terms.
Asia-Pacific represents the largest market worldwide. Driven by factors such as low cost labor, the region emerged as the major hub for manufacturing various products that use zippers, including apparel, luggage, footwear and other fashion accessories. The region also represents the fastest growing market worldwide, with a CAGR of 9.7% through the analysis period. Increasing disposable income levels, changing lifestyles, rising standards of living, and improving economic environment, among other factors have elevated Asian countries as the fastest growing markets for zippers.
Major players in the market include CMZ Zipper (Wuxi) Co., Ltd., Coats Plc., EMR Fermuar Tekstil ve Aksesuar, Fujian SBS Zipper Science & Technology Co., Ltd., DITTA Giovanni Lanfranchi S.p.A., Hang Sang Zipper Co. Ltd., IDEAL Fastener Corporation, Jinjiang Fuxing Zipper Co. Ltd., KCC Zipper Group, Max Zipper Co., Ltd., Olympic Zippers Ltd., Riri Group, Sea-Cheng Enterprise Co., Ltd., Talon International, Inc., Tex Corp Limited, YKK Corporation and ZIP Industries Limited among others.