Market Size of Adhesive Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adhesive Equipment Market Analysis
The Adhesive Equipment Market is expected to register a CAGR of approximately 5% during the forecast period (2020 - 2025). The growth of the market is significantly driven by the increase in demand for disposable hygiene products (DHP). Concerns for safety, convenience, and hygiene are recognized as prime factors affecting the growth of the disposable hygiene products market.
- The adhesive dispensing equipment suppliers act as key partners in helping disposable hygiene manufacturers produce higher quality products faster, more efficiently, and at a lower cost. Furthermore, rising consumption of products, such as sanitary pads, wipes, baby products, and others across the world, is anticipated to drive demand for disposable hygiene products market in the near future.
- Moreover, from the end-user perspective, the packaging industry is expected to account for the largest market share of the market, especially for hot melt adhesives and water-based adhesives. This growth is driven by consumer preferences shifting toward new attractive packages, ease of use, sustainability, and conscientious environmental ideals.
- Various companies are expanding their solutions for several end-user industries to enhance their market presence. For instance, in June 2019, Henkel expanded its adhesive solutions portfolio with the launch of an adhesive solution called Loctite Liofol LA 2798 for high-performance packaging applications. The base component of Loctite Liofol LA 2798 can be combined with different hardeners for sterilization processes, aggressive filling goods, and hot filling processes. Hence, the above trends are indicative of the fact that the adoption of adhesive equipment is expected to grow during the forecast period.
