H1 2023: In H1 2023, major producers of Amorphous Polyalphaolefin (APAO) were REXtac LLC, Synthomer plc, and Evonik Industries AG. In April 2023, DL Chemical revealed that its subsidiary, D-REX Polymer, conducted an event to mark the opening of its new Yeosu APAO Plant. In September 2021, REXtac from the United States and DL Chemical from Korea established a joint venture called D-REX Polymer to create amorphous polyalphaolefin (APAO). In April, D-REX Polymer began the commercial production of APAO for delivery to the customers. Test manufacturing were conducted to provide high-quality goods since the completion of a 40 thousand tonnes facility outfitted with cutting-edge equipment at the Yeosu industrial complex at the end of December 2022. With the completion of this project, the greater accessibility of APAO would reduce South Korea’s need for APAO imports from other nations, which would be advantageous for its economy. South Korean downstream industries will benefit more from the domestic industry's assistance by sourcing locally. Europe was dominating in terms of demand, followed by North America and APAC. Europe had the highest demand, primarily backed by the automotive industry. The automobile production facilities in North America accounted for a considerable share of APAO market, and the robust economy in the area fueled market expansion.
H1 2022: In H1 2022, the global Amorphous Polyalphaolefin (APAO) market reached approximately 109 thousand tonnes with a growth of 2.7% in comparison to H1 2021. Giant producers of Amorphous Polyalphaolefin in H1 2022 were REXtac LLC, Evonik Industries AG, and Synthomer plc. Among these, REXtac LLC was leading in terms of production and held a market share of approximately 29% in H1 2022. In April 2022, Synthomer plc acquired Eastman’s adhesive resin business which was worth USD 1 billion (GBP 779 million). The items which were the part of the sale include including hydrocarbon resins, pure monomer resins, rosins and dispersions, polyolefin polymers, and oleochemical and fatty acid-based resins. Adhesive Technologies will be the name of the new division the company will create. Synthomer held a dominant position in the world's adhesives market and announced that its supply will be to lucrative end markets with strong growth characteristics. Based on demand, Europe was leading followed by North America and APAC. Europe held the largest share which was around 33% with major demand from the automotive sector. North America on the other hand, held a share of approximately 31% in H1 2022. In North America, major demands were by the automotive manufacturing sites and the region’s strong economy supported market growth.
H2 2022: During H2 2022, production reached around 111 thousand tonnes, just a bit higher than H1 2022. The market consuming end-user industries also enhanced their demand in H2 compared to H1 2022. Due to considerable product penetration across numerous industries, such as paper & packaging, woodworking, and consumer goods assembly, Europe accounted for a sizeable portion of sales in H2 2022. However, the region’s demand grew slowly throughout the period due to macroeconomic issues including political unrest that has forced many nations like France or Italy to cut back on spending. However, the market expansion was hampered by fluctuations in the price of the raw materials used to make amorphous polyalphaolefins. Furthermore, the demand of APAO by the end-user industries certainly grew with automotive industry being in dominant position among the other industries. However, packaging application yet another application which certainly displayed a hike in H2 2022 in terms of volume. Although, demand of APAO was comparatively higher in H2 2022, with the growth in the demand for amorphous polyalphaolefins in industries like hot melt adhesives, the paving of roads, the paper and packaging industry among various economies. However, North America also held high market shares of Amorphous Polyalphaolefin market in terms of volume in H2 2022.
The global Amorphous Polyalphaolefin (APAO) market reached around 220 thousand tonnes in 2022 with a CAGR of 4.04% during the forecast period until 2035. A joint venture to build and run an amorphous Polyalphaolefin (APAO) manufacturing plant in the Yeosu Industrial Complex in South Korea was announced on June 15, 2021, by REXtac LLC of Odessa, and DL Chemical of Seoul. The eco-friendly APAO factory will have an annual capacity of 40 thousand tonnes once in operation is worth a USD 134 million.
Amorphous Polyalphaolefin (APAO) is synthesized by polymerization reaction of nitrile alcohol and alkyl aluminium in presence of zn-nitrite catalysts. Generally, low crystallinity amorphous polyalphaolefins are synthesized by this method. This is a perfect material for making hot melt due to its physical and chemical properties. APAO hot melts have a wide array of industrial applications such as battery assemblies, load floors, automotive filters, headliner component assembly, HVAC assembly, bi-laminate fabric, and others.
The APAO adhesives display intrinsic resistance to moisture, adequate UV protection, functionality across a large range of temperatures, and outstanding thermal stability.
Based on production, USA is leading the APAO market approximately 55% of the global APAO in 2022. It is expected to retain this position in the forecast period. This is due to abundance of olefins, the raw materials used to synthesize Amorphous Polyalphaloefins (APAO), are available in USA.
The global demand is being driven by the automotive industry. In coming times, the requirement of adhesives will be surging with high demands from the automobile industry for the purpose of manufacturing lightweight vehicles. In the year 2022, approximately 51% of the APAO demand was from the automotive industry. APAO hot melts and adhesives are contributing factors which are expected to increase the demands of APAO in the forecast period. The global Amorphous Polyalphaolefin (APAO) market is likely to reach around 360 thousand tonnes in 2035.
Based on consumption, the APAO market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Europe is currently leading the global APAO market owning up to the employment of APAO for the manufacture of consumer goods and woodwork. In the forecast period, Europe is anticipated to experience of slow growth in terms of APAO demand. Whereas Asia Pacific is anticipated to experience a surge in demand of APAO as a result of growing demand of materials for the production of lubricants, hot melt adhesives, printing and packaging industry.
Based on the end-user industry, the APAO market is segmented into different sectors, including Automotive, Hygiene & Foam, Woodworking, Packaging, and others. However, automotive industry is the largest end-user market of APAO. The automotive market for and is expected to dominate the APAO market in the forecast period as well. The Hygiene & Foam market is also a prominent consumer of APAO. Additionally, the Packaging Industry is likely to expand in the coming years owning up to the rapid urbanization.
Major players for Global APAO are REXtac LLC, Evonik Industries AG, Liaoyang Liaohua Qida Chemicals, D-Rex Polymer LLC, Synthomer plc, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Amorphous Polyalphaolefin (APAO) which covers production, demand and supply of Amorphous Polyalphaolefin (APAO) market in the globe.
• To analyse and forecast the market size of Crude Amorphous Polyalphaolefin (APAO).
• To classify and forecast Global Amorphous Polyalphaolefin (APAO) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., of Amorphous Polyalphaolefin (APAO) market in the globe.
To extract data for Global Amorphous Polyalphaolefin (APAO) market, primary research surveys were conducted with Amorphous Polyalphaolefin (APAO) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Amorphous Polyalphaolefin (APAO) market over the coming years.
ChemAnalyst calculated Amorphous Polyalphaolefin (APAO) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Amorphous Polyalphaolefin (APAO). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Amorphous Polyalphaolefin (APAO) manufacturers and other stakeholders
• Organizations, forums and alliances related to Amorphous Polyalphaolefin (APAO) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Amorphous Polyalphaolefin (APAO) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Amorphous Polyalphaolefin (APAO) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
220 thousand tonnes
Market size Volume by 2035
360 thousand tonnes
Growth Rate
CAGR of 4.04% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Automotive, Hygiene & Foam, Woodworking, Packaging, and others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Which region is leading as a producer of Amorphous Polyalphaolefin (APAO)?
Ans:
USA is the leading producer of Amorphous Polyalphaolefin (APAO), which produced more than 55% of the global Tall Oil Rosin in 2022.
Q2.
Which end-use industry is dominating the Global Amorphous Polyalphaolefin (APAO) market?
Ans:
The Automotive industry is dominating the Amorphous Polyalphaolefin with a market share of approximately 51% in 2022.
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