Home > Chemicals & Materials > Adhesives and Sealants > Specialty Adhesives > Hot Melt Amorphous Polyalphaolefin (APAO) Market
Hot Melt Amorphous Polyalphaolefin (APAO) Market size was estimated over USD 200 million in 2016 and is expected to grow by a CAGR of more than 6%.
Amorphous polyalphaolefin, synthesized by polymerization of alpha-olefins such as 1-butene or propylene, is extensively used in the production of hot melt adhesives. High growth in the global packaging industry will drive the hot melt APAO market in the coming years. Increasing purchasing power of the dual income families and shifting focus towards packaged products delivered at doorstep has resulted in high demand for packaging materials from the food & beverage, pharmaceutical, and e-commerce industries. Global market for adhesives used in packaging was valued at more than USD 15 billion in 2016. Converting industries growth will also boost the hot melt APAO market in the coming years owing to extensive usage of adhesives in this industry.
Growing popularity and demand for lightweight and low emission automobiles is expected to positively influence the global hot melt APAO market. Structural adhesives play a significant role in weight reduction as well as emission lowering strategies of automobile manufacturers. These adhesives are used to bond different materials used in automobile assembly and helps in increasing rigidity and stiffness of the vehicle without any substantial increase in its mass. Lighter weight vehicle needs less fuel to run which will lead to lower emission levels. Increasing personal car demand along with the rising awareness about fuel economy will, thus, signify the overall hot melt APAO market in the forecast spell.
Report Attribute | Details |
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Base Year: | 2016 |
Hot Melt Amorphous Polyalphaolefin (APAO) Market Size in 2016: | 200 Million (USD) |
Forecast Period: | 2017 to 2024 |
Forecast Period 2017 to 2024 CAGR: | 6% |
2024 Value Projection: | 380 Million (USD) |
Historical Data for: | 2013 to 2016 |
No. of Pages: | 110 |
Tables, Charts & Figures: | 154 |
Segments covered: | Product, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Global hot melt APAO market may be hampered during the forecast timeframe due to volatile raw material prices. As both raw materials used in the synthesis of the product, alpha-olefins and 1-butene or propylene, are petrochemicals, any change in crude oil price will directly affect their prices as well. Crude oil prices fluctuated from 102.52 USD/barrel in 2012 to 37.34 USD/barrel in 2015 and again to 51 USD/barrel in 2016. This fluctuating nature will likely continue in the future and is expected to hamper the hot melt APAO market in coming years.