The Global Tackifier Market Calculated to Reach $4507.26 Million in Revenue by 2028

According to Triton's report, the global tackifier market, which reaped $3427.44 million in 2020, is probable to witness growth at 4.53% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Tackifier Market’ includes the Global Analysis and Forecasts by Application (Hot-Melt Adhesive, Pressure Sensitive Adhesive, Other Applications), Product Type (Natural, Synthetic), Verticals (Book Binding, Construction/Assembly, Packaging, Non-woven, Other Verticals), Form (Resin Dispersion, Solid, Liquid), and by Geography (Latin America, Middle East and Africa, North America, Europe, Asia-Pacific).

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Triton’s report estimates the global tackifier market to progress based on revenue at a CAGR of 4.53% through the years 2021-2028, and is likely to showcase revenue worth $4507.26 million by 2028.

Tackifiers are chemical elements that help in developing the stickiness of adhesives. Moreover, these tackifiers are employed for application in numerous industries, such as packaging, book binding, and others.

Factors such as growing demand from the tire & rubber industry and rising use of adhesives, are contributing to the progression of the tackifier market. Tackifiers are crucial components in adhesives to maintain a balance between adhesion and cohesion. Hence, the growth in adhesives directly impacts the development of the tackifier market. In terms of packaging, adhesives are widely used in flexible packaging, specialty packaging, and frozen food packaging. Here, due to the growing demand for a high shelf life of products, the need for flexible packaging is growing, further enhancing the demand for adhesives.

However, difficulties in using tackifiers in pharmaceuticals, coupled with the uncertainty pertaining to raw material cost and availability, are major factors that are hindering the studied market’s evolution.

The market for tackifier is broadly sectioned into application, product type, verticals, and form. Based on application, it is categorized into hot-melt adhesive, pressure sensitive adhesive, and other applications. Similarly, product type is divided into natural and synthetic. In terms of verticals, it is branched into book binding, construction/assembly, packaging, non-woven, and other verticals. Lastly, based on form, the division is into resin dispersion, solid, and liquid.

The Asia-Pacific is anticipated to become fastest-evolving in the tackifier market during the projected phase 2021-2028. The region’s growth is mainly motivated by the growing demand for tackifiers in multiple industries, such as construction, packaging, and automotive. For instance, in recent years, India and China have witnessed significant growth in automotive production, further influencing the demand for tackifiers for various applications in the automotive industry. Furthermore, rapid urbanization and infrastructural activities in the region’s nations have contributed to the construction industry’s growth, in turn, increasing the demand for tackifiers. Therefore, these factors are likely to propel the region’s tackifier market on a growth path.

Exxon Mobil Corporation, Neville Chemical Co, Guangdong Komo Co Ltd, Mitsui Chemicals Inc, Eastman Chemical Company, WestRock Company, Les Derives Resiniques Et Terpeniques SAS (DRT), TWC Group, Yasuhara Chemical Co Ltd, Kraton Corporation, Arkema SA, Natrochem Inc, Arakawa Chemical Industries Ltd, Lawter Inc, and Teckrez Inc are prominent enterprises in the market.

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Question & Answer: Tackifier Market

Question 1: What factors are contributing to the progression of the tackifier market?

Answer: Factors such as growing demand from the tire & rubber industry and rising use of adhesives, are contributing to the progression of the tackifier market.

Tackifiers are crucial components in adhesives to maintain a balance between adhesion and cohesion. Hence, the growth in adhesives directly impacts the development of the tackifier market. In terms of packaging, adhesives are widely used in flexible packaging, specialty packaging, and frozen food packaging. Here, due to the growing demand for a high shelf life of products, the need for flexible packaging is growing, further enhancing the demand for adhesives.

Question 2: What major factors are hindering the tackifier market’s evolution?

Answer: Difficulties in using tackifiers in pharmaceuticals, coupled with the uncertainty pertaining to raw material cost and availability, are major factors that are hindering the studied market’s evolution.

Question 3: Which region is anticipated to become fastest-evolving in the tackifier market?

Answer: The Asia-Pacific is anticipated to become fastest-evolving in the tackifier market during the projected phase 2021-2028. The region’s growth is mainly motivated by the growing demand for tackifiers in multiple industries, such as construction, packaging, and automotive.

For instance, in recent years, India and China have witnessed significant growth in automotive production, further influencing the demand for tackifiers for various applications in the automotive industry. Furthermore, rapid urbanization and infrastructural activities in the region’s nations have contributed to the construction industry’s growth, in turn, increasing the demand for tackifiers. Therefore, these factors are likely to propel the region’s tackifier market on a growth path.

Question 4: Which are the prominent enterprises in the tackifier market?

Answer: Exxon Mobil Corporation, Neville Chemical Co, Guangdong Komo Co Ltd, Mitsui Chemicals Inc, Eastman Chemical Company, WestRock Company, Les Derives Resiniques Et Terpeniques SAS (DRT), TWC Group, Yasuhara Chemical Co Ltd, Kraton Corporation, Arkema SA, Natrochem Inc, Arakawa Chemical Industries Ltd, Lawter Inc, and Teckrez Inc are prominent enterprises in the market.

Related Report:

Global Adhesives Market

The global adhesives market is likely to display growth during 2021-2028 at a CAGR of 5.71% in value and 4.60% in volume. The market is also expected to acquire $56.94 billion, along with 166670.62 kilotons by the year 2028.

A compound that helps combines two or more substrates together is known as adhesives. Moreover, these are produced from either natural or synthetic sources, with application in various industries, including packaging and furniture.

Factors such as the rising application of adhesives in the packaging sector, paired with the growing construction industry, are vital elements motivating the progress of the studied market. Further, application in the automotive industry and demand from the consumer electronic segment are significant factors generating global opportunities for the tackifier market.

However, stringent rules and uncertainty in raw material costs, are a set of factors that weigh down the development of the adhesives market to a large extent.

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