The global glue dispenser market is estimated to garner a notable revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a noteworthy revenue in the year 2021. The primary growth factor is the expansion of the manufacturing line, owing to its wide range of applications, such as holding industrial glue and hot glue. As per recent estimates, in 2022, the revenue garnered by the manufacturing industry of the United States region amounted to approximately USD 6 trillion.
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A glue dispenser is a device that is primarily used for releasing the required amount of glue onto the area of application. Glue dispensers are a preferred choice for the application of high-performance adhesives for directly applying from a tube or bottle onto the surface. Glue dispensers enable cost-efficient bonding solutions for various applications integrated into the manufacturing line. Thus, an increase in the number of manufacturing enterprises is expected to bolster the sales of glue dispensers in the assessment period. In 2022, it was calculated that the number of manufacturing businesses numbered 638,590 in the U.S.
The glue dispenser market is segmented and analyzed for demand and supply by application into automotive, packaging, electronics, construction, lamination, textile, and others. Out of these, automotive segment is expected to garner the highest revenue by 2031. The primary growth of the segment is a result of the rising demand for automobiles by the population. The International Organization of Motor Vehicles released the data that shows the total production of vehicles in the world was 80,145,988 units in 2021, a rise from 77,711,725 units in 2020. Whereas, the total sales were calculated to be 82,684,788 units in 2021, a rise from 78,774,320 in 2020.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global glue dispenser market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031, owing to expansion of end-use industries such as automotive, construction, manufacturing and others. As per the International Organization of Motor Vehicles stated that in America in 2021, the sales of automobiles accounted to be 22,001,152 units and the production in the same region stood up at 16,151,639 units at the same time frame.
The global glue dispenser market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Global Glue Dispenser Market
FREQUENTLY ASKED QUESTIONS
The high adoption rate of glue dispenser in various end-use industries such as construction, manufacturing, packaging and automotive is expected to propel the market growth.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
The stringent rules by the government along with the lack of regulatory policies and additional expenses in various stages are expected to hamper market growth in the forecast period.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Valco Cincinnati Inc., Henkel Adhesives Technologies India Private Limited, Nordson Corporation, Glue Machinery Corporation, Hernon Manufacturing, Inc., Adhesive Dispensing Limited, Dymax, Ashby Cross Company, Adhesive Systems Technology Corporation, EXACT Dispensing Systems (TASI Group) and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by technology, application, and by region.
The automotive segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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