Global Amorphous Polyalphaolefin (APAO) Market Size Expands at CAGR of 6.9% to Reach USD 612.32 Million by 2029

Published | 05 December 2023

Global Amorphous Polyalphaolefin (APAO) Market is gaining traction because of the increasing demand for high-performance adhesives and growing awareness of the benefits of APAO.  

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Amorphous Polyalphaolefin (APAO) Market size at USD 410.23 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Global Amorphous Polyalphaolefin Market size to grow at a CAGR of 6.9% reaching a value of USD 612.32 million by 2029. Major growth factors for the Global Amorphous Polyalphaolefin (APAO) Market include the flourishing packaging and automotive industries owing to its superior adhesive properties. Due to their increased chemical resistance and reduced volatility, these compounds are also becoming more popular in the aerospace industry, which is expected to propel the Global Amorphous Polyalphaolefin (APAO) Market growth.

Amorphous Polyalphaolefin (APAO) – Overview

The chemical building blocks of polymers known as monomers are used to create homo- or copolymers, which are known as amorphous polyalphaolefin (APAO). Its distinctive qualities include resistance to UV radiation, chemical inertness, and resistance to moisture and corrosion. Direct synthesis is a common method of producing APAO, which are then utilized to manufacture hot melt adhesives. The compatibility of APAO with polyisobutylene, butyl rubber, and other materials is excellent. APAO has good fluidity at high temperatures because of its low molecular weight.

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Global Amorphous Polyalphaolefin (APAO) Market – By Application

Based on application, the Global Amorphous Polyalphaolefin (APAO) Market is segmented into paper & packaging, personal hygiene, woodworking, adhesives, and others. The paper & packaging industry accounts for the highest market share. APAO offers excellent resistance to moisture and extreme moisture, which makes it a preferred choice in the packaging industry, particularly in the food packaging market. The flourishing automotive industry is also emerging as a lucrative sector for APAO, as it is gaining traction for the formulation of transmission oil and other automotive lubricants.

Impact of Escalating Geopolitical Tensions on Global Amorphous Polyalphaolefin (APAO) Market

The raging war between Israel and Hamas, a Palestine-based militant and nationalist organization, sends shockwaves across various industries, particularly oil & gas, transcending geographic boundaries and affecting businesses globally. The conflict between Israel-Hamas has been a longstanding, deeply entrenched geopolitical issue. On October 07, 2023, Hamas, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be ‘long and difficult.’ The United States has sent its warships and aid to Israel and stated that its citizens were killed in the war. As of October 31, 2023, it was estimated that more than 10,000 people were killed in the war.

Also, the intensifying war in the Middle East will affect industries across verticals and regions. Oil & gas is one of the adversely affected industries by the war. The Middle East, including Israel, is a vital hub for oil production and transportation. Any disturbance in the Middle East region instantly raises concerns about oil supply disruptions, leading to increased oil prices worldwide. For example, The World Bank anticipates that the crude oil prices would spike to a range of USD 140–157 a barrel in the long term, if the war continues to escalate and spreads to other regions. This spike in oil and energy costs will have a domino effect on multiple industries. As fossil fuel is one of the main raw materials for the production of APAO, companies and end users in the Global Amorphous Polyalphaolefin (APAO) Market face the brunt of rising fuel prices. Volatile and higher fuel prices could increase the cost of the products, resulting in the declined demand for APAO affecting their sales and market growth.

Competitive Landscape

Major players operating in the Global Amorphous Polyalphaolefin (APAO) Market include Evonik Industries AG, Eastman Chemical Company, REXtac Corporation, Henkel AG & Co. KGaA, H.B. Fuller Company, Huntsman Corporation, Liaoyang Liaohua Qida Chemicals Co., Ltd, Arkema S.A., Evans Adhesive Corporation, Dow Chemical Company, ExxonMobil Chemical Company, BASF SE, Celanese Corporation, Mitsui Chemicals, Inc., and Nippon Shokubai Co., Ltd.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Amorphous Polyalphaolefin (APAO) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Amorphous Polyalphaolefin (APAO) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Amorphous Polyalphaolefin (APAO) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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