Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 165 | Code: MRS - 828561
The adhesive equipment market is set for rapid growth over the forecast period. In terms of revenue, the global adhesive equipment market accounted for USD 37.1 Billion in 2019 and is anticipated to reach around USD 58.0 Billion by 2026, growing at a CAGR of 6.6%.
Global Adhesive Equipment Market: Overview
Adhesives are a substance made up of two or more liquid or semi-liquid materials that are permanently adhered to surfaces using special equipment. Bonding, dispensing, melting, and extracting are all steps in the adhesive formulation process. As a result, various forms of adhesive devices are used to carry out certain operations. Due to increased demand from disposable hygiene products (DHP), the adhesive equipment market is anticipated to grow.
Global Adhesive Equipment Market: Growth Factors
The global adhesive equipment market is fueled by a surge in the demand by the end-user industries like construction, footwear, textiles, and lamination with growing online shopping through e-commerce websites around the worldwide regions. The rising global consumption of items such as sanitary pads, diapers, baby products, and others is expected to fuel demand for disposable hygiene products In the near future. Since the global disposable hygiene device market (especially the adult incontinence (AI) product segment) has an amount of opportunity for development, adhesive equipment manufacturers should take advantage of it to boost more demand for the global adhesive equipment market. Increasing demand for adhesives from the packaging end-user segment is expected to propel the global adhesive equipment market subsequently. Since the paper and packaging industry has the largest share of the global adhesives market (especially for hot melt and water-based adhesives), the packaging sector has the highest demand for adhesive equipment. Consumer preferences are moving toward modern enticing packages, ease of usage, recycling, and environmental conscientious values, and the packaging adhesives industry is rising at a rapid pace.
Global Adhesive Equipment Market: COVID-19 Impact
Coronavirus disease (COVID-19) outbreak in 2020 has changed the global economy and market situation in significant industries around the world. Manufacturing activities, trade practices, supply-chain volatility, and other events of global lockout have also been hampered by the pandemic scenario. The key end-use industries for adhesive equipment, such as construction, footwear, textiles, and lamination were also impacted during this situation. The high-growth adhesive equipment market is expected to slow down in 2020 due to slow demand from end-use industries. The economy, on the other hand, is improving, and businesses have resumed operations with limited capabilities and in accordance with government regulations. At the beginning of 2021, all end-use markets are projected to be fully operational, resulting in a strong demand for adhesive equipment. As a result, the demand for adhesive equipment is projected to rise at a rapid pace over the projected period. Several applicants from the construction, footwear, textiles, and lamination industries have advocated the use of adhesive equipment materials as a way to improve the quality of their products. Having something more familiar and attractive to a customer plays a vital role in increasing sales. This often helps to show the variety of products or product variations available in the store. The adhesive equipment industry faced a supply and demand shortage during COVID-19 lockdowns. Unless adequate preventative steps are taken, plant capability can be harmed if COVID-19 infections propagate across the workforce. Manufacturing of adhesive machines was slowed as a result of the lockout. The supply chain and logistics were also hampered by the lockdown, which hampered the supply of finished goods and the purchase of raw materials. The adhesive equipment industry could be especially vulnerable because the bulk of its manufacturing staff is working in on-site positions that cannot be done remotely. Furthermore, considering the complexities of the market, companies can need to think about how to provide social distancing in crowded workplaces. The chemical industry as a whole is expected to be impacted by trade restrictions, price volatility, supply chain instability, volatile demand, and labor shortages.
Global Adhesive Equipment Market: Segmentation
The global adhesive equipment market is bifurcated into its product type, application, and regions. Based on the product type, the market is bifurcated into adhesive controllers, industrial hot melt equipment, pneumatic adhesive applicator, cold glue applicator, adhesive application guns, and adhesive pumping systems. Based on the application, the global market is divided into construction, packaging, disposable hygiene products (DHP), lamination, technical textiles, and others. Geographically, the global adhesive equipment market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Global Adhesive Equipment Market: Regional Analysis
Asia Pacific region dominated the global adhesive equipment market in 2019 and is anticipated to continue its dominance in the upcoming years. The dominance of the Asia Pacific market can be attributed to the rapid industrialization and the growing automotive and transportation industry in the region. The rapidly the packaging and construction industries in countries such as China, India, South Korea, and ASEAN have generated a huge demand for adhesives, propelling the adhesive equipment market in the region. Furthermore, China's and India's booming automobile and consumer lamination industries have increased demand for adhesives, boosting the adhesive equipment industry in the Asia-Pacific region. The North American market is also anticipated to a significant growth rate in the forecast period. In terms of consumption, Germany, France, and the United Kingdom dominate the European adhesives industry across a broad variety of applications. North America and Europe are expected to be the next largest consumers due to the geriatric population and the resulting market for DHP including adult incontinence products made with adhesives. In the United Kingdom, growing construction investment to refurbish and renovate existing buildings and facilities is projected to fuel demand for dispensing equipment.
Global Adhesive Equipment Market: Competitive Players
Some of the key players in the adhesive equipment market are Nordson Corporation, Henkel, Robatech, Dymax Corporation, Adhesive & Equipment, Inc., 3M Company, ITW Dynatec, Valco Melton, Adhesive Dispensing Limited., Glue Machinery Corporation, Hernon Manufacturing Inc., Ashland, Adhesive Packaging, LLC, H.B. Fuller Company, Atlas Copco Group, and Graco Inc. among others.
Global Adhesive Equipment Market: Regional Segment Analysis