Amorphous Polyalphaolefin Market to Generate $649.3 Million By 2030 | Major Companies, Strategies and New Trends
September 15, 2021
Rise in demand in the packaging industry and surge in awareness for personal hygiene products drive the global amorphous polyalphaolefin market.PORTLAND,, OREGON, UNITED STATES, September 15, 2021 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global amorphous polyalphaolefin market garnered $375.8 million in 2020, and is expected to generate $649.3 million by 2030, witnessing a CAGR of 5.6% from 2021 to 2030. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, regional scenario, and competitive landscape.
Rise in demand in the packaging industry and surge in awareness for personal hygiene products drive the global amorphous polyalphaolefin market. However, volatility in raw material prices hinders the market growth. On the other hand, trend of lightweight and low emission vehicles present new opportunities in the future.
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Production activities of amorphous polyalphaolefin halted due to lockdown implemented by governments of many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in production at full volumes.
The demand from application industries such as automotive, construction, and paper & packaging lowered down considerably due to the stoppage of day-to-day operations during the lockdown. However, the demand is estimated rise steadily during post-lockdown as operations begin with full capacity.
The ban on import-export activities resulted in reduced manufacturing capacity and created a supply-demand gap. As the restrictions are lifted off, the supply chain is expected to be restored.
The report offers detailed segmentation of the global amorphous polyalphaolefin market based on product type, application, and region.
Based on product type, the co-polymer segment accounted for the largest share in 2020, contributing to more than half of the total share, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 5.9% from 2021 to 2030. The research also analyzes the segments including homopolymer and terpolymer.
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Based on application, the adhesives segment accounted for the largest market share in 2020, contributing to more than two-thirds of the global amorphous polyalphaolefin market, and is expected to maintain its leadership status during the forecast period. However, the personal hygiene segment is estimated to register the highest CAGR of 6.2% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total share, and is projected to maintain its dominance by 2030. Moreover, this region is expected to portray the fastest CAGR of 6.3% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global amorphous polyalphaolefin market analyzed in the research include Liaoyang Liaohua Qida Chemicals Co. Ltd., ExxonMobil Corporation, Ter Hell & Co. GMBH, Evonik Industries AG, Chevron Phillips Chemical, Ineos Oligomers, REXtac LLC, A S Harrison & Co. Pty Limited, Soltex, and Labdhi Chemicals.
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