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The Global Tackifier Market Estimated to Grow at $4507.26 Million by 2028

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The Global Tackifier Market Estimated to Grow at $4507.26 Million by 2028

February 08
20:15 2021
The Global Tackifier Market Estimated to Grow at $4507.26 Million by 2028

Tackifier Market
As per Triton’s research report, in 2020, the global tackifier market attained $3427.44 million, and is likely to surge at a CAGR of 4.53% by 2028.

As per Triton’s research report, in 2020, the global tackifier market attained $3427.44 million, and is likely to surge at a CAGR of 4.53% by 2028.

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

The chemical elements that aid in enhancing the stickiness of adhesives are known are tackifiers. They are used for application several end-user industries, including packaging, construction, book binding, and others.

Request Free Sample of the Global Tackifier Market Report @ https://www.tritonmarketresearch.com/reports/tackifier-market#request-free-sample

Triton’s research report implies that the global market for tackifier is likely to propel at a CAGR of 4.53% during the forecasting years 2021-2028. The market is further anticipated to gain revenue worth $4507.26 million by 2028.

The rising use of adhesives, coupled with an increase in the demand for tackifiers from the tire & rubber industry, are significant factors majorly driving the growth of the tackifier market worldwide. Tackifiers are used in the formulation of rubber to add the quality of tack in tire compounds. Here, Koresin, a popular tackifier resin, is among the best developments by BASF in the market. These factors mainly contribute to the growth of the tackifier market. However, the inconvenience of usage in pharmaceutical applications and uncertainty in raw material cost and availability, are factors that are obstructing the progress of the tackifier market to a large extent.

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

Globally, Asia-Pacific is dominating the tackifier market. The proliferating manufacturing sector is anticipated to stimulate the demand for tackifiers in several end-user industries, including automotive, packaging, electronics, and others. Additionally, over the years, China and India have observed substantial growth in automotive production, owing to the technology transfer to western countries. This fuels the demand for tackifiers for application in automotive parts production. Along with this, rapid urbanization and growing infrastructural activities are encouraging the need for tackifiers, fueling the tackifier market’s expansion in the region.

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

Purchase this Report @ https://www.tritonmarketresearch.com/reports/tackifier-market#purchase-option

 

Question & Answer: Tackifier Market

Question 1: What significant factors are driving the growth of the tackifier market worldwide?

Answer: The rising use of adhesives, coupled with an increase in the demand for tackifiers from the tire & rubber industry, are significant factors majorly driving the growth of the tackifier market worldwide.

Tackifiers are used in the formulation of rubber to add the quality of tack in tire compounds. Here, Koresin, a popular tackifier resin, is among the best developments by BASF in the market. These factors mainly contribute to the growth of the tackifier market.

Question 2: What factors are obstructing the progress of the tackifier market?

Answer: The inconvenience of usage in pharmaceutical applications and uncertainty in raw material cost and availability, are factors that are obstructing the progress of the tackifier market to a large extent.

Question 3: Which region is the dominating the tackifier market?

Answer: Globally, Asia-Pacific is dominating the tackifier market. The proliferating manufacturing sector is anticipated to stimulate the demand for tackifiers in several end-user industries, including automotive, packaging, electronics, and others.

Additionally, over the years, China and India have observed substantial growth in automotive production, owing to the technology transfer to western countries. This fuels the demand for tackifiers for application in automotive parts production. Along with this, rapid urbanization and growing infrastructural activities are encouraging the need for tackifiers, fueling the tackifier market’s expansion in the region.

Question 4: Which are the leading companies present in the tackifier market?

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

 

Related Report:

Global Adhesives Market

The global adhesives market is expected to develop based on revenue and volume at a CAGR of 5.71% and 4.60%, individually, during the calculated period of 2021-2028. It is further estimated to garner $56.94 billion and 166670.62 kilotons by 2028.

Adhesives refer to a compound that binds two or more substrates and is usually formed from natural or synthetic sources. They are used for application in several end-user industries, such as construction, packaging, furniture, and others.

The growing application of adhesives in the packaging industry and developing construction industry, are drivers that are augmenting the adhesives market’s growth globally. Additionally, the demand from the consumer electronics segment, paired with applications in the automotive industry, is offering lucrative opportunities to the studied market to reach its expected growth.

However, strict regulations and uncertainty in raw material costs, are negatively impacting the expansion of the adhesives market during the assessed years.

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