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. 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.
Precision applicator Market- Market Segmentation:
Precision applicator market has been segmented on the basis of needle size, end user and bottle cap sizes.
Based on the needle size, the precision applicator market is segmented into:
- 18 gauge
- 20 gauge
- 24 gauge
Based on the end user, the precision applicator market is segmented into:
- Others (paints, artistic use, adhesives)
Based on the bottle cap sizes, the precision applicator market is segmented into:
Precision Applicator Market- Market Dynamics:
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. 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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