PUBLISHER: Allied Market Research | PRODUCT CODE: 1065626
PUBLISHER: Allied Market Research | PRODUCT CODE: 1065626
The global hot melt equipment market size was $1,491.2 million in 2020, and is expected to reach $2,822.9 million by 2030, with a CAGR of 6.4% from 2021 to 2030. Hot melt equipment are machines that heat up the gluing material and dispenses it through nozzle, which is applied at the spot for assembling or packaging purpose.
The hot melt equipment is majorly driven by usage of hot melt equipment for packaging in e-commerce industry. The rise in industrialization and urbanization of emerging countries such as China, India and Brazil has led to rise in e-commerce industry. In addition, with advanced R&D the manufacturing cost of adhesives has been reduced, which in turns boosts the application of hot melt equipment in electronics, food & beverage and automobile industries. However, some of the adhesives have low melting points and thus cannot withstand even a little rise in temperature of the products or surroundings. This factor restraints the growth of market. On the contrary, rise in regulations to use sustainable and environment friendly products and methods will boost the hot melt equipment market during the forecast period.
The global hot melt equipment market is segmented on the basis of product type, glue material, and end user, and region. Based on product type, the market is divided into glue gun and bench top. Based on glue material, the market is divided into polyurethane, polypropylene, ethylene-vinyl acetate and other. Based on end user, the market is divided into electronics, food & beverages, medical, automotive and others.
Region wise, the global hot melt equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global hot melt equipment market share, and LAMEA is anticipated to secure a leading position during the forecast period.
COMPETITION ANALYSIS
The major players profiled in the hot melt equipment market include 3M, Banseok Precision Industry Co.Ltd., Glue Machinery Corporation, Graco Inc., Henkel AG & Co. KGaA, ITW Dynatec, Nordson Corporation, Robatech AG, Twin Engineers Pvt. Ltd. and Valco Cincinnati Inc.