PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371882
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371882
According to Stratistics MRC, the Global Adhesive Applying Equipment Market is growing at a CAGR of 7.5% during the forecast period. Equipment used to apply adhesive material to a surface is known as adhesive-applying equipment. Moreover, the use of adhesive application equipment is crucial to ensuring the uniform and precise application of the adhesive substance. The adhesive and the surface can cling together tightly as a result.
According to ASTM D6195, the "Loop Tack" test is used to measure the tack force / strength of a pressure sensitive adhesive (PSA). Pressure sensitive adhesives are typically applied to films, labels, tapes, and stickers where the initial tack force is an important characteristic of the product. ASTM D6195 describes two ways to perform the test.
Due to the superior bonding capabilities, advantages of being lightweight and capacity to replace conventional fasteners, adhesive products are becoming more and more prevalent in growing industries like automotive, construction, electronics, and packaging. Additionally, in order to meet rising production demands, this increase in adhesive usage is driving the demand for effective adhesive-applying equipment.
The high initial investment in adhesive application equipment includes not only the purchase price but also the costs of infrastructure, installation, and training. In addition to these, ongoing costs for maintenance and energy use can add up over time. Moreover, navigating these significant costs can be a difficult challenge for many organizations, especially smaller ones, and may require careful financial planning and consideration of financing options.
The manufacturers of adhesive application equipment have a huge opportunity thanks to the increased focus on environmental sustainability. Equipment that can effectively handle these materials while reducing waste and emissions will be in high demand as demand for eco-friendly adhesives increases. However, in a society that values the environment, creating machinery that is optimized for green adhesive technologies can lead to new market opportunities and help manufacturers stand out.
Due to the complexity of the global supply chain, pandemics, natural disasters, and geopolitical unrest all have the potential to cause supply chain disruptions that could affect equipment manufacturers. Critical component deliveries may be delayed as a result of these interruptions, which may have an impact on production schedules and customer satisfaction. Furthermore, to reduce these risks, manufacturers need solid backup plans and diversified supply chains.
On the market for adhesive application equipment, the COVID-19 pandemic had a significant effect. Lockdowns and supply chain disruptions during the early stages of the pandemic caused a significant slowdown in manufacturing and industrial activity. Moreover, there was less demand for adhesive equipment as a result of numerous projects being delayed or abandoned. But as industries adjusted to new safety regulations and remote working arrangements, a shift towards increased automation and digitalization was seen, fueling the demand for advanced adhesive application equipment.
In the market for adhesive applying equipment, the Hot Melt Applicators segment is anticipated to hold the largest share. Due to their adaptability and effectiveness, hot melt applicators are widely used in many industries. However, these applicators can dispense hot melt adhesives in a variety of shapes, such as sticks, pellets, or granules, which can be precisely applied and quickly solidify upon contact, making them appropriate for high-speed production lines. Hot melt applicators are used in a variety of industries for bonding and sealing tasks, including packaging, woodworking, automotive, and textiles.
The market for adhesive-applying equipment had the highest CAGR in the disposable hygiene products segment. The demand for disposable hygiene items like adult incontinence products, sanitary napkins, and diapers increased, which contributed to this growth. As adhesives are applied accurately and efficiently for bonding and construction, adhesive-applying equipment is essential to the production of these products. The demand for disposable hygiene products has increased along with population growth and changing lifestyles, which has increased the need for cutting-edge adhesive application equipment.
The adhesive-applying equipment market is expected to have the largest share in the North American region. The region's highly developed manufacturing industries, which cover industries like automotive, electronics, packaging, and construction, were one reason for this leadership, among other explanations. Additionally, the region's growth was also aided by the presence of reputable and creative manufacturers of adhesive equipment and a strong emphasis on upholding strict quality standards.
The market for adhesive-applying equipment in the European region is growing at the highest CAGR. The region's well-established manufacturing sectors, particularly in the automotive, construction, and electronics industries, were a contributing factor to Europe's growth. The strong focus on sustainability and environmentally friendly adhesive solutions also helped the market expand in Europe. Additionally, the market's growth was accelerated by developments in technology and automation, as well as the presence of creative manufacturers of adhesive equipment.
Some of the key players in Adhesive Applying Equipment market include: Henkel, Nordson Corporation, Graco, Valco Melton, Dymax Corporation and Robatech.
In June 2023, Nordson Corporation today announced that it has entered into a definitive agreement to acquire ARAG Group and its subsidiaries in an all-cash transaction that values ARAG at an enterprise value of €960 million. Headquartered in Rubiera, Italy, ARAG is a global market and innovation leader in the development, production and supply of precision control systems and smart fluid components for agricultural spraying.
In January 2023, Henkel and Shell Chemical LP have agreed to a five-year collaboration to replace up to 200,000 tonnes of fossil feedstocks used in the manufacture of surfactants with feedstocks that are based on renewable raw materials. The renewable-based surfactants will be used in Henkel's laundry product brands, including many varieties of Persil®, Purex® and all® brands. Surfactants are an ingredient in cleaning products that help lather and lift dirt.
In April 2022, Dan Dee International, a global leader in baby, pet, plush, and home decor products, and Graco, one of the world's most recognised and trusted children's products brands, have announced a new multi-year licensing agreement. Dan Dee has plans to help expand Graco with an extensive line of innovative play, activity, storage, and functional baby products for at-home and on-the-go, set to launch in North America in 2023.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.