Albany, NY -- (SBWire) -- 12/15/2018 --A new report published by Transparency Market Research (TMR) presents an in-depth insight into the global amorphous polyalphaolefin (APAO) for hot melt market. The report, titled "Amorphous Polyalphaolefin (APAO) for Hot Melt (Homopolymers and Copolymers) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023", is available for sale on the company's website. The report offers a comprehensive overview of the global amorphous polyalphaolefin (APAO) market.
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The report states that the global amorphous polyalphaolefin (APAO) market for hot melt was estimated at US$192.1 mn in 2014 and is expected to be worth US$328.6 mn by 2023, growing at a CAGR of 6.2% between 2015 and 2023.
APAO for hot melt adhesives is extensively used for making formulations of adhesives. Therefore, this fairly new class of raw materials is used in industries such as bookbinding, personal hygiene, paper and packaging, product assembly, woodworking, textiles, wires and cables, footwear, asphalt modifiers, and electronics.
The global demand for APAO is fueled by the stupendous growth observed in the packaging industry, which is one of its key application areas. The high growth of the personal hygiene products market will also push the growth of this 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. This in turn is 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.
Amongst the products, the copolymers segment dominated the global APAO market for hot melt in 2014, in terms of volume. Analysts predict this segment is expected to witness huge growth in the near future, as copolymers offer the greatest strength. Furthermore, the polypropylene-based homopolymers segment is likely to grow at a sturdy rate, but one below the growth rate of the overall market.
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As of 2014, the global APAO market for hot melt was consolidated in nature, with the top five players holding a 60% share. Some of the important players in the global APAO for hot melt market are Evonik Industries AG, Huntsman Corporation, Henkel AG & Company KGaA, Eastman Chemical Company, H.B. Fuller, Bostik S.A., and REXtac, LLC.
Amorphous Polyalphaolefin (APAO) Market Is Anticipated to Reach US $328.6 Mn: 2023