Amorphous Polyalphaolefin Market Global Industry Analysis and Forecast Till 2023
Amorphous polyalphaolefin is gaining increased traction in industries as demand for UV resistant, and chemically inert polymer continues to rise across a wide range of spectrum. The growing demand for safety from consumers and industrial applications of polymers rise, the amorphous polyalphaolefin market is expected to register significant growth. The market is likely to register 6.2% CAGR over 2015-2024 as new applications consisting of amorphous polulpholefin derivates continue to open new horizons. The amorphous polupholefin derivates is likely to reach US$0.32 bn by the end of 2023.
Amorphous polyalphaolefin or APAO as it is commonly known by is a thermoplastic polymer. It is ideal for industry wide use due to its corrosion resistance, resistance to UV rays, and moisture, and chemical inertness. Moreover, qualities like corrosion resistance are essential in manufacturing to improve the quality of finishing products, and its durable consumer use. Moreover, the chemical inertness is ideal for filling it with a wide range of mixes for various different manufacturing requirements. Rising awareness about radiation, and its aftermath are also expected to drive significant demand for its UV protection abilities. This resistance is expected to drive significant growth for the amorphous polyalphaolefin market as UV radiation is a leading cause of cancer, which is largest among all chronic illnesses on the rise. Additionally, growing awareness about the radiation and safekeeping measures by entities like FDA are expected to drive tremendous growth for derivatives of APAO in the near future.
Application In Hot Metal Adhesives
The APAO market is expected to gain significant traction from the automotive, manufacturing, and construction sector in the near future. The rising demand for vehicles despite the high interest rates, recent slowdown in the economy, on-going trade wars, and competition from trends like rent-a-cab is a positive sign for the auto industry. In recent years, the sales of automotives have slowed. However, according to industry experts these sales have nowhere slowed to their expectations and the market continues to see strong growth despite major setbacks which are expected to remain temporary. The APAO is important for the manufacturing of vehicles as most auto parts including metal bodies are require strong metal adhesives to bind together. The growing demand for anti-corrosion and safety from UV radiation can be major positives for the APAO market in the near future. trends on the horizon like smart vehicles, autonomous driving, and ups in the economy are also expected to drive growth for the APAO market in the near future.
Constraints and Challenges in the APAO Market
The global APAO market is expected to witness significant growth in the near future from the construction industry as well. It is estimated that the global construction sector will add another 15 trillion dollars to the world economy in the next 15 years. This is a major boost for the global economy as well as for the APAO market. this is not surprising as major economies in the world including the US, China, and India are investing large sums in infrastructure developments including ports, manufacturing hubs, metros, among others. This is expected to fuel strong growth for metal adhesives and subsequently for APAO products as well. However, consolidation in the market remains a challenge as top 5 companies dominate over 60% of market share. It is important for smaller players to step up and invest in innovation as new opportunities continue to rise amidst strong growth.
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The information presented in this review is based on a TMR report, titled “Amorphous Polyalphaolefin (APAO) for Hot Melt (Product – Homopolymers and Copolymers; Application- Paper & Packaging, Personal Hygiene, Bookbinding, Woodworking, Product Assembly, Textiles, Footwear, Electronics, Asphalt Modifiers, and Wires and Cables)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”