Amorphous Polyolefins Market Size, Share, Growth, and Industry Growth by Type (Propylene Homopolymer, Copolymer of Propylene and Ethylene, Propylene Homopolymer and Ethylene Copolymer and Others) By Application (Hot Melt Adhesive and Pressure Sensitive Adhesive, Bitumen Modification, Polymer Modification and Others) Regional Forecast From 2024 To 2032

AMORPHOUS POLYOLEFINS MARKET REPORT OVERVIEW

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The global amorphous polyolefins market size is expected to be USD 480.6 million in 2022 and the market is projected to touch USD 677.96 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.4% during the forecast period. In the market study, our analysts have considered amorphous polyolefins players such as Evonik, Eastman, REXtac, Liaoyang Liaohua Qida Chemicals, Hangzhou Hangao etc.

Amorphous polyolefin is a popular hot melt adhesive that is utilized across several key applications. Although the adhesive is not suitable for polar surfaces, it bonds well with non-polar substrates such as polypropylene and polyethylene. Against polar solutions and solvents such as bases, acids, alcohols, and esters, these adhesives showcase tremendous chemical resistance. They are also known for their physical characteristics such as water vapor permeability and low moisture absorption.

Amorphous polyolefin adhesives exhibit exceptional heat resistant characteristics and chemical resistance against non-polar solvents such as oils, ethers, and alkanes. The product is produced in a range of hardness, melt viscosities, surface tackiness, and softening points.  On account of the aforementioned chemical and physical characteristics, the amorphous polyolefins market growth will gain significant momentum in the coming years.  

COVID-19 Impact: Disrupted Supply Chains Led to Decline in the Market

The global COVID-19 pandemic has been unprecedented and staggering, with amorphous polyolefins experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The COVID-19 pandemic badly affected the amorphous polyolefins industry due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand. Due to these factors, the market experienced a lower demand during the pandemic.

LATEST TRENDS

"Packaging Industry to Accelerate the Market Demand"

The combination of amorphous polyolefin with tackifiers, resins, and wax is expected to open up profitable business prospects and have a beneficial impact on the market's expansion. The market is divided into a number of different end-user sectors, including paper & packaging, personal hygiene, construction, product assembly, and others. The industry of packaging is the most dominant sector and is anticipated to dominate the market throughout the anticipated period. Due to its increased UV stability, durability to high temperatures, ability to manage viscosity, and flexibility at low temperatures, amorphous polyolefin is also employed as a bitumen modifier. In many automotive applications, it serves as an adhesive and protective covering. These factors will augment amorphous polyolefins market share.

AMORPHOUS POLYOLEFINS MARKET SEGMENTATION 

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• By Type Analysis

By type, market is segmented into propylene homopolymer, copolymer of propylene and ethylene, propylene homopolymer and ethylene copolymer and others. The propylene homopolymer segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into hot melt adhesive and pressure sensitive adhesive, bitumen modification, polymer modification and others. The hot melt adhesive and pressure sensitive segment will lead the global share through 2028.

DRIVING FACTORS

"Automotive Sector to Boost the Market Growth."

Due to the rising number of end-use sectors where amorphous polyolefins are being used, the market for them is predicted to rise significantly in the near future. The amorphous polyolefin market is anticipated to have rapid growth because to the expansion of the automotive sector.

"Increased Investment in Infrastructure and Buildings to "

Another aspect that is anticipated to contribute to the expansion in amorphous polyolefin demand in bitumen modifier and other applications is the increase in investment in infrastructure and building across established and emerging nations. Increasing global significance of the packaging sector is anticipated to support the rise in demand for amorphous polyolefins over the course of the projected period. These factors will drive the amorphous polyolefins market growth.

RESTRAINING FACTORS

"Volatility in Feedstock Pricing and Variation in Raw Material Availability to Lower the Market Demand."

The two variables that may serve as significant restrictions on the market for amorphous polyolefins are volatility in feedstock pricing and variations in raw material availability. In order to get around the issue with the feedstock, amorphous polyolefin producers frequently choose to sign long-term agreements with the raw material suppliers.

AMORPHOUS POLYOLEFINS MARKET REGIONAL INSIGHTS

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"North America to Dominate Market Share during 2022-2028 "

The amorphous polyolefins market share was dominated by North America in 2021 and will continue to show similar trends in the future, followed by China and South East Asia & Pacific. Amorphous polyolefin demand in China, which already accounts for a sizeable portion of the worldwide market, is predicted to increase significantly over the next few years due to the expansion of the manufacturing industry.

According to projections, the markets for amorphous polyolefin will expand most quickly in South East Asia and the Pacific in the foreseeable future. Positive government measures, such as the Make in India program introduced by the Indian government to boost domestic production, may be credited with the expansion of amorphous polyolefin in the area.

Due to their relative maturity, the amorphous polyolefin markets in Western and Eastern Europe are anticipated to rise on average throughout the projected period. Latin America is predicted to have a promising market outlook in the near future among the specialized market areas (Latin America and MEA), thanks to improving economic circumstances and rising corporate direct investment in the manufacturing sector in Mexico and Brazil.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP AMORPHOUS POLYOLEFINS COMPANIES

• Evonik (Germany)
• Eastman (U.S.)
• REXtac (U.S.)
• Liaoyang Liaohua Qida Chemicals (China)
• Hangzhou Hangao (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.