The Global Tackifier Market to Progress at CAGR of 4.53% by 2028

Triton Market Research presents the Global Tackifier Market segmented by Application (Hot-Melt Adhesive, Pressure Sensitive Adhesive, Other Applications), Product Type (Natural, Synthetic), Verticals (Non-woven, Packaging, Construction/Assembly, Book Binding, Other Verticals), Form (Resin Dispersion, Liquid, Solid), and by Geography (Asia-Pacific, Middle East and Africa, Latin America, North America, Europe). It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Restraints, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton's report estimates the global tackifier market is predicted to showcase growth in revenue by 4.53% of CAGR during the studied phase of 2021-2028.

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Tackifiers are chemical elements that help in improving the stickiness of adhesives. These tackifiers encompass the ability to modify elastomers properties, and are used for application in several industries, including packaging and construction.

The growing demand for tackifiers from packaging, construction, and pharmaceutical industries, are generating several opportunities for the global market during the forecast period. For instance, tackifiers are widely used in the packaging and construction industries for multiple applications, including door sealants, packaging tray seal, and seat upholstery attachments. Further, in the pharmaceutical sector, the high demand for tackifiers is mainly owing to the rising use of water-based and pressure-based adhesives. However, the ambiguity regarding raw material availability and cost is one of the significant factors limiting the global tackifier market's progress.

Asia-Pacific holds the largest market for tackifier globally, and is anticipated to continue its stronghold over the market during the considered period. In the region, China, India, Japan, and South Korea are key consumer market for hot-melt adhesives. In terms of consumption, China is dominating the market owing to favorable conditions, including changing lifestyles and food consumption patterns. Moreover, numerous market players are entering the market with innovative products. This further influences the demand for tackifiers in multiple end-user industries, in turn, boosting the tackifier market on a growth path across the APAC region.

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

The tackifier market requires high capital investment and extensive domain knowledge, which are majorly restricting the entry of new market players. Moreover, existing players are well-established and are known among the end-users, further leading to the threat from new entrants to be relatively low. On the other hand, the intensity of competition among the current market players is high. They are striving to gain significant market share by initiating innovative product developments and expanding their business operations. Hence, the threat from new market players is likely to be low, while the competition among the current players is expected to be high during the projected phase.

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