Report : South America 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 South America Hot Melt Glue Gun Market during 2021-2028
According to a new market research study on “South America 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$ 42.91 million by 2028 from US$ 32.85 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the South America hot melt glue gun market along with the drivers and restraints pertaining to the market growth. Rising application in the packaging and electronics industry and advantages as compared to solvent-based adhesives or other fasteners in industrial applications are the major factors driving the growth of the South America hot melt glue gun market. However, the presence of other superior glue dispense tools or systems on a large scale may hinder the growth of South America hot melt glue gun market.
In case of COVID-19, in South America, especially Brazil, 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 South America countries, i.e., Argentina, Colombia, Peru, Chile and Ecuador. 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 South America 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. The hybrid segment is expected to be the fastest growing segment over the forecast period. Based on application, the South America hot melt glue gun is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held the largest share in South America hot melt glue gun market. Furthermore, in this present scenario of COVID 19 pandemic, the South America hot melt glue gun market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for hot melt glue gun.
Ellsworth Adhesives, 3M, Arkema, Buhnen GmbH & Co. KG, and Adhesives Technologies Inc. are some of the leading companies in the South America 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 South America Hot Melt Glue Gun Market as follows:
- South America Hot Melt Glue Gun Market – By Gun Type
- Corded
- Cordless
- Hybrid
- South America Hot Melt Glue Gun Market – By Application
- Packaging
- Construction
- Automotive
- Furniture
- Footwear
- Electronics
- Others
- South America Hot Melt Glue Gun Market – By Country
- Brazil
- Argentina
- Rset of South America
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com