Global Tackifier Market Is Expected To Witness Surging Growth In Asia-Pacific

The global tackifier market size was worth around USD 3.6 billion in 2021 and is predicted to grow to around USD 5.72 billion by 2028 with a compound annual growth rate (CAGR) of roughly 4.82% between 2022 and 2028.

Tackifiers are chemical compounds with low molecular weight, also called oligomers, and are used to improve the adhesion quality of the surface. The compounds exhibit a high glass transition temperature (Tg) which in most cases is higher than that of the base polymer but the molecular weight of the compound is much lower. When used in polymer mix, tackifiers dissolve in the mixture, breaking up the structure and thus enhancing the tackiness and mobility of the base polymer.

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Key Insights

As per the analysis shared by our research analyst, the global tackifier market is estimated to grow annually at a CAGR of around 4.82% over the forecast period (2022-2028)
In terms of revenue, the global tackifier market size was valued at around USD 3.6 billion in 2021 and is projected to reach USD 5.72 billion, by 2028
Due to a variety of driving factors, the market is predicted to rise at a significant rate
Based on form segmentation, solid was predicted to show maximum market share in the year 2021
Based on type segmentation, synthetic was the leading type in 2021.
On the basis of region, Asia-Pacific was the leading revenue generator in 2021

Tackifiers are gaining extreme popularity because they help in reducing molecular cohesion while promoting specific adhesion, which finally results in lowered values of softening point and melt viscosity of the polymer system. There are three main types of tackifiers including polyterpenes, hydrocarbon resins, and rosin esters.

Out of these three, hydrocarbon resins and rosin ester originate from pine trees thus being classified as natural tackifiers whereas hydrocarbon resins originate from petroleum feedstocks and are classified as synthetic tackifiers. One of the oldest resins in the global tackifier market is rosin resins which exhibit compatibility with multiple polymers but are more expensive than hydrocarbon resins. Terpene resins are derived from turpentine oil and while being compatible with multiple polymers they also have high bio-renewable properties

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Growth Analysis

The global tackifier market is projected to grow owing to the increasing application of tackifiers to produce pressure-sensitive adhesives (PSAs) and holt-melt adhesives (HMAs) which are widely used in the construction sector. The growing investment along with increasing demand for commercial and residential buildings to meet the increasing requirement of a rapidly rising population and rampant industrialization is expected to fuel the construction market which, in turn, will drive the need for a constant supply of tackifiers.

Since some of these organic compounds are eco-friendly and biodegradable, tackifiers are preferred to increase the adhesion coefficient as compared to other forms of compounds that are used in the adhesive market. The global construction industry was valued at over USD 13571 in 2021 and has grown at a CAGR of 4.61% from 2016. It is projected to cross over 22000 billion by 2028.

The strict government laws for synthetic tackifiers may restrict global market expansion while growing applications of agricultural tackifiers may provide excellent expansion opportunities. However, changes in raw material prices could impact the global market growth trend.

The global tackifier market is segmented based on form, end-user, type, application, and region

Based on form, the global market is segmented into liquid, solid, and others, with the global market witnessing the highest growth in the solid segment owing to increasing applications of sold pacifiers in both hot-melt adhesives and pressure-sensitive adhesives. In 2019, the Eastman Chemical Company, a leading chemical manufacturer, generated over USD 9.272 billion in revenues.

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Based on end-user, the global market is divided into building & construction, packaging, paints & coatings, pulp & paper, and rubber with packaging leading the global market segment in 2021 due to high applications of hot-melt adhesives in the assembly of corrugated boxes, high-speed packaging machines, and other labeling uses. In 2019, the US packaging industry was valued at USD 180 billion.

Based on type, the global market is divided into synthetic and natural with the former leading with the highest global market share. As per research, using synthetic tackifiers improve the overall quality of the adhesive; however, the segment also faces government regulatory concerns. For instance, as per research papers, the use of 24 parts per hundred rubber (phr) increased the overall performance of ethylene propylene diene polymethylene (EPDM) rubber.

Based on application, the global market divisions are hot-melt adhesives, and pressure-sensitive adhesives (PSAs), with the latter generating the highest revenue in 2021 due to an increased adoption rate in the graphic business along with applications in the marks, labels, and tapes market. In 2019, the US-graphic design industry was valued at USD 15 billion.

Asia-Pacific is projected to generate the highest revenue in the global tackifier market owing to the growing investments in the chemical industries of China and India, with the latter's chemical and petrochemicals industry currently being valued at USD 177.9 billion. India's chemical industry is termed the sixth largest in the world and the third largest in Asia-Pacific. The regional market cap is anticipated to be further driven by the growing use of tackifiers in the paints and coatings market along with the rubber industry. A key selling point is the presence of bio-grade tackifiers.

The global tackifier market is dominated by players like Eastman Chemical Company, Arakawa Chemical Industries Ltd, Foreverest Resources Ltd, Snowtack, KRATON CORPORATION, ZEON CORPORATION, Robert Kraemer GmbH & Co. KG, and YS RESIN PX.

Recent Developments:

In December 2021, Sika announced its plans to establish a new production and technology center for sealants and adhesives
In May 2021, SI Group claimed that the company plans to ramp up its production capacity by 75% in the manufacturing unit in Lote, India

This review is based on a report by Zion Market Research, titled "Tackifier Market By From (Liquid, Solid, and Others), By Type (Synthetic, and Natural), By End-User (Building & Construction, Packaging, Paints & Coatings, Pulp & Paper, Rubber), By Application (Hot-Melt Adhesives, and Pressure-Sensitive Adhesives (PSAs), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2028."- Report at https://www.zionmarketresearch.com/report/tackifier-market

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