global hot melt equipment market size was valued at $1.5 billion in 2020, and is expected to reach $2.8 billion by 2030, with a CAGR of 6.4% from 2021 to 2030. In 2020, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 41.20% share of the global market.
The global hot melt equipment market is segmented on the basis of product type, glue material, and end user, and region. Based on glue material, the market is divided into polyurethane, polypropylene, ethylene-vinyl acetate and other. Based on end user, the market is divided into electronics, food & beverages, medical, automotive and others.
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Hot melt equipment play a vital role in ensuring product safety throughout the supply chain. Increase in demand of e-logistic and e-commerce from several end-user industries such as food & beverages, pharmaceuticals, and electronics drives the growth of the global market. In addition, with R&D the cost of adhesives has considerably lowered in the past few years and therefore the application of market has increased.
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The global hot melt equipment market has witnessed significant growth over the past decade, owing to rise in e-commerce business. The rise of e-commerce business has led to increase in packaging requirements as well as its extensive use in assembling of electronic products. The Asia-Pacific holds the largest share in the market owing to large scale production of industrial equipment such as hot melt equipment in China, in addition to high production of electronic. Moreover, LAMEA is the fastest growing region as there is increase in industrialization and urbanization in the developing nations such as Brazil, South Africa and other nations in the region
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global hot melt equipment market trends and dynamics.
- Depending on product type, the bench top segment was the largest revenue generator in 2020.
- By glue material, the Polyurethane segment generated the highest revenue in 2020.
- Based on end user, the food & beverage segment dominated the market in 2020.
- Region wise, Asia-Pacific is anticipated to dominate the market throughout the study period.
- The report provides an extensive analysis of the global hot melt equipment industry and emerging opportunities of the market.
- The global hot melt equipment market forecast analysis from 2021 to 2030 is included in the report.
3M, Banseok Precision Industry Co.Ltd., Glue Machinery Corporation, Graco Inc., Henkel AG & Co. KGaA, ITW Dynatec, Nordson Corporation, Robatech AG, Twin Engineers Pvt. Ltd. and Valco Cincinnati Inc.
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