Hot Melt Amorphous Polyalphaolefin Market set for rapid growth
Date: 2018-09-06   Author: Ronak Bora  Category: #market

Hot Melt Amorphous Polyalphaolefin Market set for rapid growth

The Hot Melt Amorphous Polyalphaolefin Market is set to grow from its current market value of more than $200 million to over $380 million by 2024; according to a new research report by Global Market Insights, Inc.

Amorphous polyalphaolefin is widely used in hot melt adhesive production. Exponentially growing packaging industry shall positively influence hot melt APAO market for the forecast duration. Amplified spending pattern of dual income family coupled with drifting preference for packaged products has led to in augmented packaging materials demand in pharmaceutical, e-commerce and food & beverage industry.

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Increasing popularity of low emission and lightweight automobiles is anticipated to boost the overall hot melt APAO market in the coming years. The product is used to bind different materials employed in automobile industry and aid in increasing stiffness and rigidity of vehicle without considerable increase in overall mass. Rising passenger vehicles demand coupled with increasing awareness regarding fuel economy shall accelerate hot melt APAO market growth over the forecast timeframe. The major challenge for future product market growth is the constant fluctuations in prices of raw materials (petrochemicals and crude oil derivatives).

Copolymers held major share in global hot melt APAO market in 2016 on account of its versatile properties including durability, toughness and superior impact strength. Although being softer compared to homopolymers, copolymers have toughness and better crack resistance in critically low temperatures. The homopolymers segment will grow at around 6% CAGR during forecast timespan. it is characterized by superior chemical resistance, better stiffness and high weight to strength ratio.

Paper & packaging segment held more than one-third part of global hot melt APAO market in 2016. The market share is anticipated to increase over the next few years owing to its widespread usage in packaging industry specially. Personal hygiene segment also had a significant share in hot melt APAO market in 2016 and is projected to expand at a prominent rate due to rising demand and awareness pertaining to personal hygiene goods among consumers in countries including China, South Korea, India, Thailand, Malaysia, Brazil and Japan.

Europe and North America had significant share of overall hot melt APAO 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.

Browse Full Report @ https://www.gminsights.com/industry-analysis/hot-melt-amorphous-polyalphaolefin-APAO-market

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 APAO 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.

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.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline 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.

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