Sep 9, 2021   SOURCE: BusinessWire

Insights on the Hot Melt Glue Gun Global Market to 2028 - by Gun Type, Application and Region - ResearchAndMarkets.com

The "Hot Melt Glue Gun Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Gun Type (Corded, Cordless, and Hybrid) and Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others)" report has been added to ResearchAndMarkets.com's offering.

The global hot melt glue gun market was valued at US$ 477.64 million in 2020 and is projected to reach US$ 715.13 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Hot melt glue gun is a portable device that is utilized to dispense hot melt adhesives. These guns are available in various types such as corded, cordless, and hybrid. These guns offer convenience over other glue dispensing equipment. They dry quickly, having long-shelf life and easily disposable. The growing demand from packaging, DHP, and electronics industry, which requires precision adhesive dispensing is driving the market growth. Further, these glue gun finds vast application in automotive, construction, furniture, and other manufacturing industries that supports the growth of the hot melt glue gun market..

The global hot melt glue gun market is segmented into five main regions-north America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, Asia Pacific held the largest share of the global hot melt glue gun market, followed by North America. The growth of the hot melt glue gun market in the Asia Pacific region is mainly attributed to the rising focus of government authorities on infrastructural development in countries like China, Japan, and India. For instance, the growth in infrastructure development projects such as dams, airports, expressways, and national highways in India is expected to drive the hot melt glue gun market in the near future.

Impact of COVID-19 Pandemic on Hot Melt Glue Gun Market

COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of May 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical & materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic.

The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnership opportunities. All these factors are anticipated to affect the chemical & materials industry in a negative manner, thereby act as restraining factor for the growth of various markets related to this industry in the coming months. The hot melt glue gun market is impacted by the pandemic due to shortfall in production along with halt in ongoing infrastructural development and construction projects due to global lockdown.

Reasons to Buy

  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global hot melt glue gun market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Market Dynamics

Drivers

  • Consistent Growing Demand From Packaging and Electronics Industry
  • Advantages Over Solvent-Based Adhesives Or Other Fasteners In Industrial Applications

Restraints

  • Availability of Other Superior Glue Dispense Tools or Systems

Opportunities

  • Growing Usage In Disposable Hygiene Products And Medical Devices

Future Trends

  • New Product Innovations

Companies Mentioned

  • Ratiobond Klebesysteme Gmbh
  • Ellsworth Adhesives
  • 3M
  • Arkema
  • Deluxe Packaging
  • Ad Tech
  • Buehnen
  • Infinity Bond Adhesives
  • Surebonder
  • Steinel

For more information about this report visit https://www.researchandmarkets.com/r/ayoq2r