It depends on what you realy want/need to do.
If it's for a shrink sleeve, your glue gun may be hot enough. But, as the heat will be applied only to a spot, you'll need to slide it back and forth all around to get an uniform shrinkage. It will take much longer.
If it's to melt some solder strip, it's possibly not hot enough, but you can try.
Electro, May 2013