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Hot Melt Amorphous Polyalphaolefin Market Size – How The Business Will Grow In 2024?

Author : Ronak Bora | Published Date : 2019-06-06 

Hot Melt Amorphous Polyalphaolefin 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.

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.

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Europe and North America had significant share of overall hot melt amorphous polyalphaolefin market in 2016, generating an overall revenue close to USD 120 million. This can be attributed to its developed food packaging industry and rising demand for ready to eat packaged products. Higher penetration of online business in Europe and North America has resulted in augmented product demand for packaging in this region. Moreover, awareness among consumers in these regions regarding personal hygiene goods has boosted the overall product demand in recent years.

Asia Pacific for hot melt APAO market shall witness gains more than 7% over the forecast timespan. It can be due to the improving economic scenario, which has propelled packaged products demand and eventually demand for hot melt APAO in this region. Increasing personal hygiene goods demand will positively influence hot melt amorphous polyalphaolefin market in the coming years. Shifting of production units to countries including India and China shall accelerate product demand in this region for the forecast period.

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.

Copolymers and homopolymers are the key hot melt amorphous polyalphaolefin market 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.

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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 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.

The hot melt amorphous polyalphaolefin market is fairly competitive. Key industry players are Evans Adhesive Corporation, REXtac, H.B. Fuller, Eastman Chemical Company, Evonik Industries and Henkel AG. Other companies include Guangdong Orient Resin Company, Texyear Industrial Adhesives, Almas Fanavaran Giti Company, Adtek Malaysia and Arkema.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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