The move from a product centric to a
customer centric market is giving rise to new products every day. When
it comes to the cosmetics and automobile market, we have seen the
growing demand for customization. With regards to design and
modifications, specialized equipment have cropped up, that equips the
user with opportunity to diversify and differentiate. Applicators have
been available in the market for a while now. With the advent of
precision applicators, it has become very easy to create designs with
finesse.
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The applications of precision
applicators mainly involve designing and adhesion. Precision applicators
have become very important when it comes to designing art in the
automotive and cosmetics industry. With personalization creeping into
our daily lives, precision applicators come in the forefront of
customizing personal use products. Rising per capita income will also
allow precision applicators to rise in the coming future. The different
gauges of needles and sizes of bottle caps give the applicator the
ability to hold multifarious types of payloads. This makes its
application valid for varied markets. The different sizes of the bottle
caps specifically allows the use of different payloads.
The Automotive industry and the
cosmetics industry will witness a significant growth in the coming
future. This will allow for the precision applicator market to grow
exponentially. Also, with the adoption of customization due to increased
disposable incomes, precision applicators market will surely witness an
exponential growth. Precision applicators as adhesives will also be
seen to take up a chunk of the market. The personal care industry is on
the rise, and precision applicators are expected to play a very
important role in its future.
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The use of precision applicators will
eventually imbue within different markets due to its versatility in
holding different pay loads. Advancements and tweaks in its design will
allow it to be accepted in different industries. The precision
applicator market is still in its adoption stage and is yet to take over
the mainstream market. It is quite a fragmented market. A more artistic
portion of the society is involved in using this particular product and
it will take time to capture the mainstream population.
Precision Applicator Market- Regional Outlook:
In terms of geography, the precision
market has been divided in to five key regions; North America, Latin
America, Europe, Asia-Pacific and Middle East & Africa. The
precision applicator market is expected to exhibit a surge in CAGR
during the forecast period. North America and Europe is expected to
continue being the dominant market for precision applicators.
Asia-Pacific and MEA will see a slow steady growth in the forecasted
period. Increase in customization and personalization will stimulate the
demand for the precision applicator market globally. Rise in the
disposable incomes will also help in bringing precision applicators in
the forefront of designing and adhesives.
Precision Applicator Market- Major Players:
Some of the key players in the precision applicator market
are FineLine Applicators, Elmer’s Products, Inc., however, a large
chunk of the market is controlled by domestic player across all the
geographies.
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