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Global Tackifier Market Growth to Benefit from the Thriving Tire & Rubber Industry
TACKIFIER MARKET
"Browse 49 Market Data Tables and 46 Figures spread over 216 Pages, along with an in-depth TOC on the Global Tackifier Market Forecast 2021-2028."
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Tackifiers are low-molecular-weight compounds added to adhesive formulations for improving tack and peel adhesion. They have glass transition temperature, giving them viscoelastic properties. Rosin esters, polyterpenes, and hydrocarbon resins are the three vital important groups of tackifiers.
Tire & Rubber Industry Propels Tackfier Demand
Tackifiers resins find applications in the tire industry in the formulations of rubber for adding tack to tire compounds. The tackifying resins for the tire & rubber industry are classified into rosin resins, phenolic resins, and hydrocarbon resins. Koresin is a renowned tackifiers resin in the market, made of acetylene and P-tertbutylphenol. It is one of the best developments by BASF. Cyrez resins are another significant development that functions as a promoter of adhesion in steel cords. They offer various advantages over the older system using hexamethylenetetramine. With such important developments in the tire & rubber industry, the production of new tire compounds is set to increase. Such factors are projected to increase the demand for tackifiers.
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Synthetic Tackifiers are the Dominating Type as of 2020
Synthetic tackifiers are hydrocarbon resins that include aliphatic/aromatic (C5/C9), aromatic (C9), and aliphatic resins (C5). These are a collection of special resins, primarily polyterpenes and phenolics. Modified synthetic resins are extensively used in the industry according to specific end-use requirements. In regions such as the Asia Pacific, there has been an increasing demand for tackifiers from end-use industries like construction/assembly. At the same time, the declining fossil fuel prices are also set to increase the synthetic tackifiers' demand. Fossil fuel is the basic raw material feedstock for synthetic tackifiers.
Asia Pacific to Record the Highest CAGR & Revenue Share
The manufacturing sector of the Asia Pacific region augments the demand for tackifiers in the electrical & electronics industries, packaging, industrial machinery, and automotive industries. Countries like India and China have witnessed a surge in automotive production, given the technology transfer to Western markets. The market growth in the region is also accredited to growing infrastructural activities, rising economies, increasing urbanization, etc.
The intense competition in the market is supplemented by key players trying to increase expansion and product developments. The manufacturers are also trying to upgrade their products to offer superior cost and performance to end-user industries. Some of the eminent market players include, Guangdong Komo Co Ltd, Yasuhara Chemical Co Ltd, Arakawa Chemical Industries Ltd, Les Derives Resiniques Et Terpeniques Sas (DRT), Kraton Corporation, etc.
Related Reports:
GLOBAL ADHESIVES MARKET
GLOBAL SEALANTS MARKET
GLOBAL EPOXY RESINS MARKET
GLOBAL PAINTS & COATINGS MARKET
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