Hot Melt Glue Gun Market ($715.13 million by 2028) Growth Forecast at 5.2% CAGR During 2021 to 2028 COVID Impact and Global Analysis by TheInsightPartners.com
NEW YORK, Sept. 15, 2021 /PRNewswire/ -- According to new research study on "Hot Melt Glue Gun Market to 2028 – Global Analysis and Forecast – by Gun Type and Application," the hot melt glue gun market was valued at US$ 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. Advantages of hot melt glue guns over solvent-based adhesives or other fasteners in industrial applications are contributing to the market growth; however, the availability of other superior glue dispense tools or systems is impeding the market growth.
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 Asia Pacific is mainly attributed to the rising adoption of these guns in packaging, electronics, construction, and automotive industries in countries such as China, Japan, and India. For instance, the food packaging industry has experienced tremendous growth in APAC in the past few years. Hot glue guns are used in folding boxes, trays, wraparounds, and other types of special shelf-ready packaging. They are also used in deep freeze packaging. The growing need for sustainable packaging solutions, along with the rising e-commerce industry, has further enhanced the demand for corrugated packaging solutions, which is supporting the hot melt glue gun market growth. The growing adoption in the disposable hygiene products (DHP) industry is another significant factor driving the hot melt glue gun market in APAC. The hot melt glue gun is used in making DHP products such as nappies, diapers, toilet paper, wipes, sanitary protection, kitchen towels, paper tableware, cotton pads, and buds. The rising consumer awareness regarding personal hygiene and well-being is expected to boost the sales of hot melt glue guns in the region.
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Advantages Over Solvent-Based Adhesives or Other Fasteners in Industrial Applications
Hot glue guns are portable adhesive dispensing devices that use and dispense hot melt adhesives. Hot melt thermoplastics were invented in the 1940s in the form of tubular sticks as an upgrade and improvement over water-based adhesives, which deteriorate when exposed to humidity. Hot glue guns are used to dispense industrial hot glue, which dries rapidly and strongly, minimizing the time taken for the completion of a product. Hot melt glue also has the advantage of not losing any thickness when drying. This makes it extremely useful in business projects such as woodworking. There are numerous varieties of industrial hot melt glue guns available to meet the needs of diverse industries. Hot melt adhesives can even be applied by dipping or spraying. Hot melt adhesives dispensed by the hot glue gun use water-based technology, in which water is utilized as a diluting medium and is intended to be absorbed by the substrate, thereby lowering volatile organic compound (VOC) emissions. Furthermore, since hot melt technology forms a quick bond, it is used in highly automated manufacturing processes such as packing, assembly, bookbinding, converting, and footwear. However, solvent-based adhesives are subjected to regulatory restrictions on solvent emissions, waste disposal, and manufacturing vapor levels. Many solvent solutions are combustible, requiring safety and health-management procedures. The advantages of hot melt glue guns over solvent-based adhesives or other fasteners in industrial applications are projected to propel the growth of the hot melt glue gun market.
Hot Melt Glue Gun Market: Segmental Overview
Based on gun type, the hot melt glue gun market is segmented into corded, cordless, and hybrid. The corded segment captured the largest share in the global market in 2020, and it is estimated to maintain its dominance during the forecast period. Corded guns are specifically designed to work for both heavy and light industrial applications. Most of the corded guns are compatible with hot melt sticks, hot melt slugs/cartridges, or even pellets; thus, they are preferred for use in vast applications, ranging from packaging to crafts and DIYs. They can be used by both industrial and retail customers. Corded hot melt glue guns are less expensive compared to cordless glue guns, and they are available in all sizes such as mini, generic, and big. Continuous upgrade in product specifications and technical features is expected to support the growth of the corded segment during the forecast period.
In terms of application, the global hot melt glue gun market is segmented into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging industry is among the major consumers of hot melt adhesives as they are used in manufacturing containers, carton side seam & closures, cups, tubes, bags, labels, specialty envelopes, films, disposables (non-woven), foil laminates, and corrugated boards. Hot glue guns are used to dispense hot glue in a precise manner. Depending on the packaging type, the settings of the hot melt glue gun such as temperature, power, amount, or speed of glue to be dispensed, can also be changed. Thus, convenience, easy operation, less time, and compact nature of hot melt glue guns are expected the drive their demand during the forecast period.
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Impact of COVID-19 Pandemic on Hot Melt Glue Gun Market
In 2020, the hot glue gun market experienced moderate growth as a result of the COVID-19 pandemic, followed by a minor decline in demand. The market is being disrupted by the COVID-19 pandemic because of the slowdown of raw material production, supply chain instability, hampered trade movements, decrease in construction demand, and reduced demand for new projects. However, the demand for medical equipment, hygiene products, and food packaging has risen, owing to an increase in number of COVID-19 cases and the need for healthcare and quarantine buildings/units, which will positively impact the hot glue gun market. In addition, the ongoing COVID-19 pandemic has drastically altered the growth status of the hot melt glue gun market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has negatively impacted the raw material supply. However, as the economies are planning to revive their operations, the demand for hot melt glue guns is expected to rise globally in the coming months.
The impact of the pandemic on the hot melt glue gun market may vary depending on the industry. COVID-19 has had a greater impact on rapidly rising sectors such as medical, hygiene products, food packaging, and even construction in the majority of developing and developed nations around the world. Producers are expanding their production sites to capitalize on the low manufacturing rates and the COVID-19 outbreak. Due to the extreme halts in operations in the automobile industry, there will be a major decline in demand in the short term. Due to the COVID-19 outbreak, European automakers had been forced to shut down their factories. Renault, PSA, and Flat Chrysler had to halt the production at their European plants to deal with the outbreak. Furthermore, as a result of factory shutdowns, the demand for hot glue guns has significantly decreased in Europe. However, the growing demand for hygiene products, food packaging, and electronics from APAC and North America has compensated for that loss. Hence, COVID-19 has had a nominal impact on the overall hot melt glue gun market.
Hot Melt Glue Gun Market: Competition Landscape and Key Developments
Ratiobond Klebesysteme Gmbh, Ellsworth Adhesives, 3M, Arkema, Deluxe Packaging, Ad Tech, Buehnen, Infinity Bond Adhesives, Surebonder, and Steinel are among the key companies operating in the hot melt glue gun market. The major players in the hot melt glue gun market are focused on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally.
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