TAGS: Hot-melt Adhesives
Transparency Market Research (TMR) has anticipated that the global amorphous polyalphaolefin (APAO) for hot-melt adhesives market to reach USD 420.9 Mn by 2027, at a CAGR of 6.23 percent, during the forecast period.
Flourishing Packaging Industry to Drive APAO for HMA
The global demand for APAO is fueled by the stupendous growth observed in the packaging industry. The high growth of the personal hygiene products market pushes the growth of the market. There has been an increasing demand for light weight vehicles and the growing pollution has led to stringent policies which in turn has created a demand for low-emission automobiles.
The stringent policies have slated to drive the demand for APAO. As APAO can bond with most substrates such as complex plastics, delicate papers, corrugated containers, foams, wood, metal, and particle board, their application is slated to expand in the years to come and this will create growth opportunities in the market.
Fluctuating Feedstock Prices
The factors hampering the growth of this market include fluctuation in the pricing of feedstock, which affects raw material supply. The cohesive failure of amorphous polyalphaolefin-based hot melt adhesives in structures that have high load bearing will limit the use of AMAO in the construction and building sector. Limiting AMAO will hamper the growth of the market.
In the years to come, the blending of APAO with resins, wax, and tackifiers will improve the hot melt adhesive properties as well as the process abilities of amorphous polyalphaolefin-based hot melt adhesives and will create promising growth opportunities for the market.
Continuous Growth in Asia Pacific Region
North America has been leading in the amorphous polyalphaolefin-based hot melt adhesive market by volume on account of the shale gas revolution in the U.S., leading to ample supply of raw materials (olefins), required for the manufacturing of amorphous polyalphaolefin. The easy procurement of raw materials and low cost together is driving the growth of the amorphous polyalphaolefin marker for hot melt adhesives in the North American region.
However, Asia Pacific will emerge as the new epicenter to produce consumer and industrial goods, which will create a heightened demand for APAO. Asia Pacific will thus witness the highest growth rate for APAO for hot melt adhesives in the forecast period. The market in Latin America too will witness a healthy growth during the forecast period. However, the Middle East and Africa will witness a sluggish growth in the APAO market.
Source: Transparency Market Research