December 04, 2018
WELLESLEY, Mass., December 4, 2018–Huge demand from the construction and automotive industries and rising demand from packaging industries are factors helping to drive growth in the amorphous polyalphaolefin market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 4.6% through 2023, when it is expected to reach $432 million, according to the report Amorphous Polyalphaolefin (APAO): Technology and Global Markets to 2023.
Major players in the market include 3M (MMM), Adtek, Chevron Phillips Chemical, Delo, Dow Chemical, Eastman Chemical (EMN), Evonik Industries, Glue Machinery, H. B. Fuller (FUL), Huntsman (HUN), Mapei and RMP International.
“The factors that are driving the growth of the APAO market include huge demand in construction and automotive industries and growing demand for lightweight and low-emission automobiles,” the report notes. “The automotive and transportation industries have been continuously growing for the last decade. The growth in the automotive sector has been paving the way for innovations in hot-melt adhesives that use APAO. These adhesives have various applications such as panel laminations, hotline fixing of car seats, affixing trim and headlight assemblies.”
Raw Material Supply Fluctuations, Health-Related Problems Top Market Restraint Concerns
The market’s chief restraint, the report adds, is regular fluctuations in raw material supplies. APAO production hinges to a large extent on crude oil, a commodity whose prices are subject to swings depending on supply and demand; these price swings have a direct impact on large-scale APAO production. Further, commercial and industrial workers who handle APAOs require special protection due to fumes created by the adhesives. These fumes are toxic and exposure can lead to eye irritation and respiratory problems. The need for training and personal protective equipment are additional factors negatively affecting the market.
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Amorphous Polyalphaolefin (APAO): Technology and Global Markets to 2023( CHM095A )
Publish Date: Nov 2018
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