The global fluid dispensing systems market is expected to reach approximately $55.1 billion by 2024.
The global fluid dispensing systems market is expected to reach approximately $55.1 billion by 2024, according to a recent report from Grand View Research Inc.
The trend toward miniaturization of electronic components and industry automation are key growth driving factors for the global fluid dispensing systems market. Recent innovations aimed at improving production processes due to high consumer demand and gradually reducing turnaround times reportedly have led to manufacturers adopting automated systems for applying adhesives, sealants, coatings, and lubricants during their processes.
Industry automation, though highly relevant across manufacturers in matured regions such as North America and Europe, is expected to remain a major factor in the development of Asia-Pacific region. The region was valued at over $13.8 billion in 2015 and is expected to maintain its dominance in the future.
Adhesives, sealants, and lubricants dominated dispensing system types and accounted for nearly 60% of the global revenue in 2015.