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Growth in e-commerce industry and low manufacturing cost of adhesive material drive the growth of the global hot melt equipment market

PORTLAND, Ore. , Feb. 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Hot Melt Equipment Market by Product Type (Glue Gun and Bench Top), Glue Material (Polyurethane, Polypropylene, Ethylene-vinyl Acetate and Other) and End User (Electronics, Food & Beverages, Medical, Automotive and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global hot melt equipment industry generated $1.4 billion in 2020, and is anticipated to generate $2.8 billion by 2030, witnessing a CAGR of 6.4% from 2021 to 2030.

Prime determinants of growth

Growth in e-commerce industry and low manufacturing cost of adhesive material drive the growth of the global hot melt equipment market. However, low melting point of adhesives hinders the market growth. On the other hand, rise in regulations for adoption of environment friendly products presents new opportunities in the coming years.

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The bench top segment to maintain its leadership status throughout the forecast period

Based on product type, the bench top segment held the highest market share in 2020, accounting for more than two-thirds of the global hot melt equipment market, and is estimated to maintain its leadership status throughout the forecast period, owing to its capability for automation in assembly lines. Moreover, the glue guns segment is projected to manifest the highest CAGR of 6.7% from 2021 to 2030, owing to its portability which help to access it in any desired location.

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The food & beverages segment to maintain its lead position during the forecast period

Based on end user, the food & beverages segment accounted for the largest share in 2020, contributing to nearly one-third of the global hot melt equipment market, and is projected to maintain its lead position during the forecast period. This is attributed to large scale usage of hot melt packaging of cans and packets of food and drinks. However, the automotive segment is expected to portray the largest CAGR of 7.5% from 2021 to 2030, owing to increase in application of hot melt for assembly of interior of cars.

Asia-Pacific , followed by Europe & North America , to maintain its dominance by 2030

Based on region, Asia-Pacific , followed by Europe & North America , held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global hot melt equipment market, due to high manufacturing of electrical and electronic equipment in China . Moreover, the LAMEA region is expected to witness the fastest CAGR of 8.0% during the forecast period, owing to rapid industrialization and urbanization of its developing countries.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar  is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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