Report : Asia Pacific Hot Melt Glue Gun Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Gun Type (Corded, Cordless, and Hybrid) and Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others)
Corded Segment to Dominate Asia Pacific Hot Melt Glue Gun Market during 2021-2028
According to a new market research study on “Asia Pacific Hot Melt Glue Gun Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Gun Type, Application and Country,” is expected to reach US$ 293.20 million by 2028 from US$ 198.72 million in 2021. The market is estimated to grow at a CAGR of 5.7% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific hot melt glue gun market along with the drivers and restraints pertaining to the market growth. Consistent rise in the demand from the packaging and electronics industry and advantages offered by hot glue guns in industrial applications are the major factors driving the growth of the Asia Pacific hot melt glue gun market. However, the widescale availability of other superior glue dispense tools or systems may hinder the growth of Asia Pacific hot melt glue gun market.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of hot melt glue gun manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for hot melt glue gun during the early months of 2020. Moreover, decline in the overall adhesives & sealants manufacturing activities has led to discontinuation of hot melt glue gun manufacturing projects, thereby reducing the demand for hot melt glue gun. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
The market for Asia Pacific hot melt glue gun is segmented into gun type, application and country. Based on gun type, the market is segmented into corded, cordless hybrid hot melt glue gun. In 2020, the corded segment held the largest share in Asia Pacific hot melt glue gun market. Based on application, the Asia Pacific hot melt glue gun is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific hot melt glue gun market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for hot melt glue gun.
Ellsworth Adhesives, 3M, Arkema, Deluxe Packaging, Buhnen GmbH & Co. KG, and Adhesives Technologies Inc. are some of the leading companies in the Asia Pacific hot melt glue gun market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Asia Pacific Hot melt glue gun Market as follows:
- Asia Pacific Hot Melt Glue Gun Market – By Gun Type
- Asia Pacific Hot Melt Glue Gun Market – By Application
- Asia Pacific Hot Melt Glue Gun Market – By Country
- South Korea
- Rest of Asia Pacific
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