Tackifier Market worth USD 5.73 billion by 2028, registering a CAGR of 4.81% – Report by Market Research Future (MRFR)
New York, Sept. 09, 2021 (GLOBE NEWSWIRE) — Tackifier Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Tackifier Market Information: By Type (Natural, Synthetic), By Form (Solid, Liquid, Others), By Application (Pressure-Sensitive Adhesives (PSAs), Hot-Melt Adhesives) and By End-Use (Packaging, Building & Construction, Rubber, Paints & Coatings, Pulp & Paper, Others) – Forecast to 2028” the market size is projected to be worth USD 5.73 billion by 2028, registering a CAGR of 4.81% during the forecast period (2021 – 2028), The market was valued at USD 3.56 Billion in 2020.
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Market Competitive Landscape:
List of the key companies in the global tackifier market profiled are as follows:
- Arakawa Chemical Industries Ltd (Japan) – P-90
- Exxon Mobil Cooperation (US) – Escorez
- Lawter (US) – Snowtack
- ZEON CORPORATION (Japan) – QUINTONE A100
- SOLTEX (US) – Polyisobutylenes
- Neville (US) – NEVTAC LT
- BASF SE (Germany) – Koresin
- KRATON CORPORATION (US) – SYLVARES 520
- Eastman Chemical Company (US) – Piccotac 1020
- YASUHARA CHEMICAL CO., Ltd (Japan) – YS RESIN PX
- Cray Valley (France) – Wingtack
- Kolon Industries, Inc. (South Korea) – SUKOREZ SU-90
- Foreverest Resources Ltd (China) – H51000
- Robert Kraemer GmbH & Co. KG (Germany) – Bremasin
- Anglxxon Chemical (China) – ALX-R6100
- LESCO CHEMICAL LIMITED (China) – LESTAC-A100
Market USP Covered:
Drivers:
The global tackifiers market is driven by the expanding application of petrol-based resin in the manufacture of PSA and HMA in the construction industry. The market is also growing due to the increased demand for tackifiers in the paints and coatings market, rubber industries, adhesives and sealants. Besides, a crucial part of the tackifiers market is bio-based tackifiers. They are in heavy demand across the globe due to their environment-friendly nature in order to reduce the carbon footprint in the environment.
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Restraints:
The limited raw material base and the fluctuating price of raw materials is restraining the global tackifier market.
COVID-19 Analysis:
The covid-19 disease has spread to almost 180 nations around the world since its outbreak in December 2019. The global effects of the coronavirus pandemic are already being felt, and the tackifier industry will be considerably impacted throughout the projection period.
Covid-19 has the potential to have three major effects on the worldwide tackifiers industry: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Market Segmentation:
The tackifier market is segmented by type, application, form and end-use.
By type, due to the superior properties of petroleum resins over natural resins, the synthetic segment is predicted to have the greatest share of the worldwide tackifier market.
By form, during the projection period, the solid category held the greatest market share and is expected to continue to do so. The usage of solid tackifiers in both PSA and HMA has contributed to this development.
By application, the PSA sector is expected to be the largest section of the global tackifier market. This development can indeed be due to their widespread use, particularly in the tapes, marks, and labels, and graphics industries.
By end-use, the packaging segment accounted for the greatest share of the global tackifiers market.
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Regional Insights:
With a CAGR of 5.38% over the projected period, Asia Pacific is expected to be the fastest-growing geographical market for tackifiers. This region holds the highest market share of 55%. The increased demand for adhesives is to blame for the increase. The adhesives sector in the region is bolstered by a well-established manufacturing base and a robust chemical industry. India is one of the region’s most promising markets. The European market for tackifiers was the second-largest in the world. Stringent rules governing synthetic tackifiers have forced the adoption of natural tackifiers, resulting in the rise of the regional market.
The increase in reconstruction activities and development of the automotive sector in the region are driving the expansion of the tackifiers market in North America. These tackifiers, including HMA and PSA, are used in product assembly and woodworking. The Middle East and African area is predicted to grow at a moderate pace, thanks to increased construction activity in the region, particularly in the Gulf Cooperation Council (GCC) countries, as well as increased investment in the food, beverage, and packaging industries. Due to the sheer booming automotive sector in Latin America, the market is predicted to rise steadily.
Market Scope:
Tackifiers are amorphous, glassy and light molecular weight compounds with a high transition temperature that are incorporated in the adhesive polymer matrix during formulations to improve the mobility of the base polymer and hence the tack and peel adhesion. ALX-R6100, Escorez, H51000, NEVTAC LT, Bremasin, Korean, SYLVARES 520, and LESTAC-A100 are some of the typical trade names for tackifiers.
Segmentation of Market covered in the research:
Tackifier Market Information: By Type (Natural, Synthetic), By Form (Solid, Liquid, Others), By Application (Pressure-Sensitive Adhesives (PSAs), Hot-Melt Adhesives) and By End-Use (Packaging, Building & Construction, Rubber, Paints & Coatings, Pulp & Paper, Others) – Forecast to 2028
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