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.
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.
Based on gun type, the hot glue gun market is segmented into corded hot melt glue gun, cordless hot melt glue gun, and hybrid hot melt glue gun. The corded hot melt glue gun segment held 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 to 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 low in cost as compared to cordless glue guns and they are available in all sizes such as mini, generic, and big etc. Continuous upgradation in product specifications and technical features is expected to support the growth of corded hot melt glue gun during the forecast period. For instance, Themisto – Built With Passion 150W Multi-Temperature High Power Hot Melt comes with dial-based knob at the hostler base, which helps to adjust the temperature from 100?C to 200?C depending on use and desire.
The hot glue gun market has experienced moderate growth in 2020 as a result of COVID-19, followed by a minor decline in demand. The market is being disrupted by COVID-19 because of 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, food packaging has risen due to an increase in the 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 industry. 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 had a negative impact on raw material supply. However, as the economies are planning to revive their operations, the demand for hot melt glue gun is expected to rise globally in the coming months.
Ratiobond Klebesysteme Gmbh, Ellsworth Adhesives, 3M, Arkema, Deluxe Packaging, Ad Tech, Buehnen, Infinity Bond Adhesives, Surebonder, and Steinel are among the major players operating in the hot melt glue gun market.
The overall hot melt glue gun market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the hot melt glue gun market.