The global adhesive equipment market size is expected to reach USD 49.94 billion by 2030, according to a new study by Polaris Market Research. The report “Adhesive Equipment Market Share, Size, Trends, Industry Analysis Report, By Distribution Channel (Supermarket & Hypermarket, Retail Stores, Online Stores); By Product; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increased use of these materials from food and beverages, electronics, medicines, and fast-moving consumer goods (FMCG) for various uses with growing online shopping by the e-commerce websites around the globe. In the textile business, adhesion devices such as applicators, thermal paste dispensers, glue containers, and automatic guns commonly adhere to materials.
Due to a spike in Asia-Pacific population demand, demand for textiles, footwear, and clothing is expanding at a quick rate, driving the growth. For example, India is the 2nd largest textile manufacturer among South Asian nations. According to the India Brand Equity Foundation Organization (IBEF), India's total textiles exports reached over US$ 22.95 billion in the first quarter of 2020 and are expected to reach around US$ 82.00 billion by 2021 and US$ 220 billion by 2025. In India, there was a great need for adhesive machinery as a result.
Other factors expected to drive the growth include rising industrialization, supportive government initiatives in different countries to endorse the packaging sector, growing industrial spending to renovate and redevelop current facilities, and the thriving automotive and consumer electronics industries.
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Furthermore, the major players are concentrating on producing novel and environmentally-friendly machines, such as bio-based hot melt materials, which do not rely on fossil fuel-based components. For instance, in September 2020, Toyochem introduced bio-degradable PSAs. These products have good performance, are easy to convert, and are temperature resistant. These advancements are assisting the industry's expansion.
Adhesive Equipment Market Report Highlights
Polaris Market Research has segmented the adhesive equipment market report based on product, distribution channel, application, and region:
Adhesive Equipment, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Adhesive Equipment, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Adhesive Equipment, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Adhesive Equipment, Regional Outlook (Revenue - USD Billion, 2018 - 2030)