Global Glue Dispenser Market Size, Forecast, and Trend Highlights Over 2022 - 2031
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.
Get more information on this report: Request Sample PDF
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.
Global Glue Dispenser Market: Growth Drivers and Challenges
Rise in Automotive Industry – The glue dispenser allows for a cost-effective bonding solution for the automotive industry. The high utilization of glue dispensers in the production processes and in the manufacturing of car equipment is anticipated to propel the market growth in the forecast period. According to the National Investment Promotion and Facilitation Agency, India’s automotive industry is expected to garner 222 billion dollars by 2030, making it the 3rd largest automotive industry in the world.
Growth in Construction Industry - Recent estimates calculated the revenue collected by the construction industry was almost USD 2 trillion in 2019.
Growing Electronics Industry – According to recent estimates, the revenue generated by the U.S. electronics industry in 2019 stood up at USD 300 billion.
Rising Demand in Textile Industry – As per recent estimates, the revenue generated by the global textile industry in 2018 accounted around USD 920 billion. Further, it is forecasted to reach approximately USD 1,230 billion by 2024, with a steady CAGR of nearly 5%.
Increase in Packaging Industry – According to a report published in 2021, the global packaging industry generates USD 500 billion yearly, accounting for between 1% and 2% of gross domestic product (GDP).
- Lack of Regulatory Policies
- Additional Expenses Incurred in Various Stages
- Stringent Government Rules
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.
Global Glue Dispenser Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global glue dispenser market includes the following segments:
Top Featured Companies Dominating the Global Glue Dispenser Market
- Valco Cincinnati Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Henkel Adhesives Technologies India Private Limited
- Nordson Corporation
- Glue Machinery Corporation
- Hernon Manufacturing, Inc.
- Adhesive Dispensing Limited
- Ashby Cross Company
- Adhesive Systems Technology Corporation
- EXACT Dispensing Systems (TASI Group)