Glue Dispenser Sector: Growth Drivers and Challenges
Growth Drivers
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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).
Challenges
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Lack of Regulatory Policies
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Additional Expenses Incurred in Various Stages
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Stringent Government Rules
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
The glue dispenser industry size is poised to grow at over 5.2% CAGR during the forecast period i.e., between 2025-2037.
The high adoption rate of glue dispenser in various end-use industries such as construction, manufacturing, packaging and automotive will boost the market growth.
North America industry is poised to dominate majority revenue share by 2037, owing to expansion of end-use industries such as automotive, construction, manufacturing and others.
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.
