Analysis of Glue Pen Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Fact.MR, the glue pen market is set to witness steady growth during 2021-2031. Demand for these pens will witness steady recovery in the short term, with an optimistic growth outlook in the long run.
These pens have numerous applications in various industry and with a rise in demand for products from industries such as electrical, furniture and others, sales of these pens will see a growth in upcoming years.
Glue pens are used in various industries for different applications, consumers are preferring these pens compared to other alternatives since these pens are easy to handle and don’t make a mess while applying.
These pens find most use in home decoration and art & craft. As these pens are fairly small and are very easy to use, consumers are using these pens in decorating residential places and office space. By using these pens one can avoid gluey dirty hands and can work on a project efficiently. This is driving the sales of these pens around the world.
Consumers also prefer these adhesive pens because the glue used in these pen dries clear so the glue won’t be visible and will not affect the beauty of the product. These are very popular in school and office workspaces, as they are being used for different purpose and the demand for these pens in these sectors is expected to increase.
The electronic industry is a huge consumer of these pens as well, the pens are being used for connecting small units like diodes and other segments to the actual units. As these pens are handy and can be used for a small surface area the sales of these pens is increasing in the electrical industry.
Glues used in these pens don’t have any harmful chemicals or substances, this glue dries quickly and gives a strong enough bond to last for a long period, and all these factors influence the sales of the these adhesive pens.
Due to the global Covid-19 pandemic sales of these pens were negatively impacted, due to government-imposed lockdowns and social distancing, the production was held in almost all parts of the world and there was a decline in demand for these pens.
But with the ease in lockdown and reopening of, schools, universities and offices around the world, thereby the sales of these glue pens will continue to increase. Along with art & craft, the furniture industry is expected to grow, and due to this, it is projected that the demand for these pens would rise by the second quarter of 2022.
Asia is the largest region for the sale of these pens, the region holds just below forty per cent of sales for these pens, this is since the region have one of the largest art & craft industry and the packaging industry is also huge in the region.
China is the largest country in the region for the sales of these pens. China is the second-largest economy in the world and one of the biggest manufacturing country in the world. The country has a big furniture and art & craft industry the demand of these pens is increasing for the use in these industries. The electronics and packaging industry in the country also driving sales of glue pens.
Other Asian countries like India, Japan and others have seen a rise in demand for these pens. Moreover, continuous evolving home décor sector in these countries is the main reason for an increase in sales of these pens and the sales of these pens are expected to increase at a steady rate during the forecast period.
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European and North American region has seen growth in sales of glue pen but at a slow rate compared to Asia, but the sales are expected to grow as furniture industry in these regions is seeing growth.
USA, Germany, France, UK and other countries in these regions will see growth because of sales of these pens as consumers are preferring these pens more since these pens don’t make a mess and easy to use.
Some of the leading manufacturers and suppliers in the market are
The glue pen market is moderately fragmented, with multitude of players exerting regional dominance. Most of these pens are non-biodegradable, so manufacturers are spending heavily to make products that are recyclable and eco-friendly. Such initiatives make sure that the market remains competitive in nature and open up newer opportunities for the manufacturers in the untapped regions.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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