ALBANY, New York, November 7, 2016 /PRNewswire/ --
The global market for high resolution dispensing systems and equipment is largely fragmented, with the top five companies accounting for a collective share of nearly 50% of the overall market in 2015, observes a recent report by Transparency Market Research. These companies, including Nordson Corporation, Illinois Tools Works, Inc., Besi, are more focused on product innovation and advancement in technology to strengthen their positions in the highly competitive market.
According to Transparency Market Research (TMR), the global high resolutions dispensing systems and equipment market is expected to be worth US$3.09 bn by the end of 2024 from US$1.8 bn in 2015. The global market is anticipated to surge at a CAGR of 6.3% during the forecast period of 2016 and 2024. The global market is likely to be led by the automatic sector in the coming years at a CAGR of 3.4%. The demand for automatic dispensing systems will remain high due their advantages such as improved productivity and reduction in failure. In terms of regions, North America is expected to hold a dominant share in the global market. The opportunity in this regional market is likely to be worth US$864.0 mn by the end of 2024.
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Rising Demand across Electronic Industry to Drive Market
The global high resolution dispensing systems and equipment market is primarily driven by factors such as the increasing usage of these equipment in the electronic industry and the increasing demand for accuracy and precision in production processes across a host of industries. High-resolution dispensing systems and equipment find extensive usage in electronic applications such as gasketing, electronic assembly, shielding, and plastic bonding, chiefly owing to their high level of accuracy and precision.
The integration of automation across several industries such as automotive, oil and gas, aerospace, and defense is also expected to significantly contribute to the growth of the high resolution dispensing systems and equipment across the globe in the coming years. These industries require dispensing system for improving their production quality. Automatic high resolution dispensing systems help prevent material dispensing in the wrong location, thereby increasing the overall productivity, lessening costs, and lowering the chances of part failure of high-end machines.
The need for control, accuracy, and customization across these end-use industries call for such advanced high resolution dispensing systems and equipment. These factors are expected to exert a huge positive influence on the future growth prospects of the market in the near future.
Design and Cost Constraints of High Resolution Dispensing Systems and Equipment to Hamper Growth
High resolution dispensing systems and equipment are mostly more expensive than conventional dispensing systems and equipment as they feature the latest advancements in the processing technology. The high costs incurred by companies for undertaking research and development of advanced product varieties add to the base cost of these systems and equipment. In addition to the high base costs of high resolution dispensing systems and equipment, their highly complex nature demands timely maintenance, which again adds to the overall cost of their operation.
These factors significantly limit the market's growth prospects, with mostly the developed economies capable of affording them. This scenario hinders the market's prospects of expansion across the high growth potential but cost-sensitive industrial sector in developing economies across Asia Pacific and Latin America.
Nevertheless, the market has significant growth opportunities across industries such as medical devices and solar power generation. The manufacturing of medical devices requires automated and semi-automated dispensing systems capable of offering highly repeatable and accurate dispensing of adhesives, for which, high resolution systems could prove to be ideal. In solar applications, high resolution dispensing systems and equipment could help improve the longevity and quality of energy producing systems.
This review of the market is based on a recent market research report published by Transparency Market Research, titled "High Resolution Dispensing Systems and Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024."
For the study, the global high resolution dispensing systems and equipment market is segmented into:
High Resolution Dispensing Systems and Equipment Market, by Type
- Semi-Automatic Dispensing Systems
- Automatic Dispensing Systems
High Resolution Dispensing Systems and Equipment Market, by Application
- Adhesive and Sealant Dispensers
- Electrical Conductive Adhesives
- Nonconductive Adhesives
- Glue Dispensers
- Liquid Material Dispensers
- Powder Dispensers
High Resolution Dispensing Systems and Equipment Market, by Geography
- North America
- Asia Pacific
- Middle East and Africa
- South America
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