Hot Melt Amorphous Polyalphaolefin (APAO) Market to accrue extensive gains via paper & packaging applications over 2017-2024, Asia Pacific to majorly contribute towards the regional share
Hot Melt Amorphous Polyalphaolefin (APAO) Market is predicted to experience a lucrative expansion over the years to come, subject to the product’s its extensive use in the paper & packaging, woodworking, personal hygiene, and bookbinding sectors. The usage of low carbon emitting vehicles is on a tremendous rise lately, owing to the global need to reduce fuel costs. This trend will offer new avenues to hot melt amorphous polyalphaolefin industry players to exploit the many opportunities offered by this business sphere. According to Global Market Insights, Inc., “Hot Melt Amorphous Polyalphaolefin (APAO) Market, which is projected to hit a revenue of over USD 380 million by 2024, will grow at a CAGR of more than 6% over 2017-2024.”
U.S. Hot Melt Amorphous Polyalphaolefin (APAO) Market size, by application, 2013 – 2024 (USD Million)
Pertaining to the product’s widespread utilization potential in numerous end-use sectors, hot melt amorphous polyalphaolefin industry has successfully strengthened its position across numerous geographies. Asia Pacific hot melt APAO market, for example, is predicted to cross the revenue margin of USD 100 million by 2024, driven by the rising need for packaged goods across the e-commerce and food & beverage sectors. Both the aforementioned industries have carved out a lucrative growth path in APAC, which is likely to impel the regional demand. In addition, high product requirement from textile & plastic applications and increase in the per capita income across the developing regions of APAC will contribute toward the regional revenue generation. China, Indonesia, and India are likely to impact APAC industry share.
Growing demand for personal hygiene items along with the thriving packaging sector will drive the growth of hot melt amorphous polyalphaolefin (APAO) market in North America and Europe. As per estimates, both these continents collectively garnered a revenue of over USD 120 million in 2016.
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Copolymers and homopolymers are the key hot melt amorphous polyalphaolefin products. Copolymers hot melt amorphous polyalphaolefin (APAO) market is projected to register gains of more than 6% over the coming seven years, owing to its beneficial traits such as strength and stress crack resistance. Homopolymers hot melt amorphous polyalphaolefin (APAO) industry revenue is projected to exceed USD 100 million by 2024, driven by the favorable product features such as chemical resistance, weldability, rust resistance, and stiffness.
The massive scope of the product in numerous applications is indeed commendable. For instance, the paper & packaging sector, which contributed over 33% toward global hot melt amorphous polyalphaolefin (APAO) industry share in 2016, is expected to carve a profitable roadmap for the industry over the years ahead. The growth of the market is expected to be driven by the high packaging requirement across various sectors ranging from pharmaceuticals to food & beverages.
Woodworking applications are anticipated to register a revenue of more than USD 45 million by 2024, growing at a rate of more than 5.5% during the period from 2017 to 2024. Hot melt amorphous polyalphaolefin (APAO) market size in the product assembly sector, which is predicted to surpass a revenue of more than USD 55 million by 2024, is forecast to record a cumulative growth rate of nearly 6% over the next few years. Personal hygiene sector, which contributed more than USD 30 million toward hot melt amorphous polyalphaolefin (APAO) market revenue in 2016, is estimated to drive the business expansion extensively over 2017-2024. High demand for diapers and feminine items is one of the major growth drivers of the industry.
Evonik Industries, Huntsman Corporation, Arkema, Eastman Chemical Company, Henkel AG & Company KGaA, H.B. Fuller, Liaoyang Liaohua Qida Chemicals Company Limited, Guangdong Orient Resin Company Limited, Texyear Industrial Adhesives Private Limited, Evans Adhesive Corporation Limited, Glue Machinery Corporation, Bond Tech Industries, and Adtek Malaysia Sdn. Bhd are the key participants accumulating a major chunk of hot melt amorphous polyalphaolefin (APAO) industry.
Author Name : Dhananjay Punekar