Asia Pacific adhesive equipment market is projected to grow at a CAGR of 6.96% during the forecast period to reach US$25.123 billion by 2027, from US$15.683 billion in 2020. Any substance capable of binding materials together in a functional manner via a surface connection that resists separation is referred to as an adhesive. It forms an adhesive bond between diverse materials by combining organic and inorganic components. Cement, mucilage, glue, and paste are all examples of adhesives. Adhesives are utilized in a variety of industrial, commercial, and domestic settings.
Over the projected period, rising demand from end-user verticals is likely to boost the market expansion. Expanding uses in the packaging and construction industries in countries such as China, India, South Korea, and ASEAN, have produced a large need for adhesives, propelling the adhesive equipment market in the area driving adhesive demand. With the emergence of high-performance polymers and formulas, their use has exploded. They are one of the most essential building materials, and the industry is likely to rise as new designs and processes are used. With the growth of processed food and beverage manufacturers throughout the Asia Pacific, the need for efficient and dependable packaging solutions has skyrocketed. Consumer tastes are evolving toward new appealing packaging, the convenience of use, sustainability, and environmentally conscious values, which is driving this expansion. Rising economic expansion in APAC nations is boosting demand for adhesive equipment in numerous end-use industries including packaging and construction. Furthermore, China's and India's developing automotive and consumer electronics sectors have increased demand for adhesives, bolstering the adhesive equipment business in the Asia-Pacific region. Several major corporations are extending their operations in Asia-Pacific nations in order to strengthen their position in the area.
Packaging manufacturers face many challenges related to adhesives, including temperature extreme challenges, slower packaging challenges, product damage challenges, and others. These factors are intended to stifle the market's expansion.
Dixon Technologies, an Indian electronics firm, plans to construct a manufacturing plant for assembling mobile phones in Noida, Delhi, India on October 8, 2020, with an investment of roughly US$ 10 million. It resulted in a huge increase in the demand for adhesive equipment used in this industry. Henkel established a new adhesive production plant in Pune, India, on February 5, 2020, to fulfill the growing need for high-performance adhesives, sealants, and surface treatment products. In June 2019, Graco Inc., a producer of fluid handling equipment, launched its new headquarter, the Asia Pacific Innovation Center in Shanghai.
By product, Asia Pacific adhesive equipment market is segmented into adhesive controllers, industrial hot melt equipment, cold glue applicator, adhesive pumping systems, pneumatic adhesive applicator, adhesive application guns, and others. Due to the increased need for adhesives in consumer electronics and automotive components, the industrial hot melt segment is expected to gain traction in the forecasted period. The need for industrial hot melt equipment in the Asia Pacific adhesive equipment market has risen as the number of production facilities for electronics products such as smartphones, tablets, laptops, and other items have increased in emerging nations such as India.
By end-user industry, Asia Pacific adhesive equipment market is segmented into electrical & electronics, automotive, construction, packaging, healthcare, and others. The packaging segment is expected to account for a sizable market share. Further, the expansion of the APAC adhesive equipment market is also fueled by the booming automotive and consumer electronics sectors in countries like China and India. The building and construction segment is expected to grow significantly owing to the expanding urban population, especially in more populous countries such as China and India.
By country, Asia Pacific adhesive equipment market is segmented into China, Japan, India, South Korea, Thailand, Indonesia, Australia and others. China is expected to dominate the market due to its high nominal GDP and highly developed end-user industries. China is the largest producer of electronics and automotive and has the world's second-largest packaging sector, which is expected to boost the market steadily during the projection period. In terms of fast-moving consumer products, the country is likewise seeing an upward trend (FMCGs). Increased spending on healthier and premium items, particularly by China's middle-class clients, is driving the sector's growth. India and Japan also have significant market shares because of the growing popularity of flexible packaging, and a surge in the sales and usage of automobiles and electronics.
The adhesives equipment industry relies largely on its customers. The Covid-19 epidemic has resulted in a number of restrictions and lockdowns that have had a detrimental impact on the industrial industries, reducing demand for adhesive equipment. Construction, automobile, and electronics businesses have all seen a drop in business. The market has also shrunk in the industrialized nations that house the major glue makers. Production levels have dropped as a result of social distancing measures, supply chain interruptions, and employee displacement. However, due to the development of temporary facilities, the healthcare business has expanded its demand for adhesives. Further, the demand witnessed an increase in 2020.
|Market size value in 2020||US$15.683 billion|
|Market size value in 2027||US$25.123 billion|
|Growth Rate||CAGR of 6.96% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product, End-User Industry, And Country|
|Regions covered||China, India, Japan, South Korea, Indonesia, Thailand, Australia, Others|
|Companies covered||3M, Nordson Corporation, Henkel Adhesive Technologies, Robatech AG Group, Graco Inc., Dow Inc., Avery Dennison, Benson Polymers, Dymax Corporation, Sika AG|
|Customization scope||Free report customization with purchase|
Key Market Segments
Henkel Adhesive Technologies
Robatech AG Group
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