Hot Melt Amorphous Polyalphaolefin Market to hit $380mn by 2024: Global Market Insights, Inc
OCEAN VIEW, Del., Nov. 1, 2017 /PRNewswire-iReach/ -- Global Hot Melt APAO market, in terms of application, is segmented as paper & packaging, woodworking, product assembly, personal hygiene, bookbinding, and other application types. Woodworking application segment market value is forecasted to be above USD 45 million in 2024, growing at CAGR exceeding 5.5%. Product assembly segment of the global hot melt APAO market will likely grow with a CAGR of almost 6% to a value of above USD 55 million by 2024.
Health hazards associated with the use of these adhesives may hinder the global hot melt APAO market during the period of study. Fumes that are released during the application of these adhesives are toxic in nature up to a certain extent. Prolonged exposure may cause eye irritation and respiratory problems in people. Special care must also be taken while using these adhesives due to their high temperature which may burn a person's skin if it comes in direct contact.
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Pertaining to the product's widespread utilization potential in numerous end-use sectors, hot melt amorphous polyalphaolefin industry has successfully strengthened its position across numerous geographies. Asia Pacific hot melt APAO market, for example, is predicted to cross the revenue margin of USD 100 million by 2024, driven by the rising need for packaged goods across the e-commerce and food & beverage sectors. Both the aforementioned industries have carved out a lucrative growth path in APAC, which is likely to impel the regional demand. In addition, high product requirement from textile & plastic applications and increase in the per capita income across the developing regions of APAC will contribute toward the regional revenue generation. China, Indonesia, and India are likely to impact APAC industry share.
Growing demand for personal hygiene items along with the thriving packaging sector will drive the growth of hot melt amorphous polyalphaolefin (APAO) market in North America and Europe. As per estimates, both these continents collectively garnered a revenue of over USD 120 million in 2016.
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Asia Pacific share for global hot melt APAO market is projected to be valued at above USD 100 million by 2024. This region will witness high growth due to increasing packaged products demand from food & beverages and e-commerce sector. Rising income levels in developing economies of Asia Pacific such as China, India, Indonesia, etc. will augment the hot melt APAO market as willingness to spend on personal hygiene will increase. High industrial growth in the region will also boost the industry due to increased demand for hot melt adhesives in product assembly and other applications such as textiles, plastics, woodworking, etc.
Arkema, Henkel AG, Eastman, Evonik Industries, H.B. Fuller, REXtac, and Huntsman Corporation are the major players in hot melt APAO market. There are other key players in the industry including Evans Adhesive Corporation, Liaoyang Liaohua Qida, Guangdong Orient Resin Company, Texyear Industrial Adhesives, Glue Machinery Corporation, Almas Fanavaran Giti Company, Adtek Malaysia Sdn. Bhd, Bond Tech Industries, etc.
Browse key industry insights spread across 110 pages with 143 market data tables & 11 figures & charts from the report, "Hot Melt Amorphous Polyalphaolefin (APAO) Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hot-melt-amorphous-polyalphaolefin-APAO-market
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