Tackifier Market to Reach USD 8.5 Billion by 2032; Rise in Demand for Synthetic & Natural Tackifiers to Produce Labels and Tapes Boosting Growth

Advertisement

Tackifier market size from USD 5.2 billion in 2022 to USD 8.5 billion in 10 years. The increasing application of tackifier in various industries drives the market’s growth. The growing population, the ensuing expansion in the food and beverage industry, and the high level of product innovation all contribute to the growth of the regional packaging business.

Newark, Jan. 16, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 5.2 billion tackifier market will reach USD 8.5 billion by 2032. Chemical substances called “tackifiers” are frequently employed in the production of adhesives, serving as agents to increase the tackiness of the finished product. This characteristic establishes the adhesive’s degree of surface stickiness. The compound has a high glass transition temperature—a lengthy and reversible process that requires raising the temperature to change brittle or hard materials into rubbery or fluid states—and a low molecular weight, expressed in Daltons. This transition is mostly seen in amorphous materials. Tackifiers grow stiff when exposed to greater strain rates, yet they show excellent compliance and stress tolerance at lower strain rates. Three basic resins are used to manufacture tackifiers: terpene, rosin, and oil. C9 aromatic resins, C5 aromatic resins, and aliphatic resins are the main oil resins and are the most often utilised feedstock. Rosin resin is the oldest resin that can be extracted from pine and coniferous trees and utilised in an adhesive system. Sustainable resins and terpenes are derived from citrus fruits and wood sources that contain terpene food.

Download Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/13968

Advertisement

Asia Pacific to account for the largest market size during the forecast period.

The Asia-Pacific region’s economic conditions have been steadily improving, which has improved consumers’ financial standing and raised demand for textiles, buildings, cars, and electronic gadgets. China holds a significant market position in the Asia-Pacific adhesives and is one of the biggest producers and exporters to numerous nations. The main producers of adhesives, including Ashland, Evonik Industries AG, Henkel AG & Company, KGaA, H B Fuller Company, and others, have manufacturing facilities in this area and intend to add more, which will likely result in a rise in adhesive The demand for tackifiers is predicted to rise with the growth in adhesive production and its byproducts.

The rosin resins segment dominated the market with the most significant revenue of USD 2.18 billion.

The rosin resins segment dominated the market with the most significant revenue of USD 2.18 billion. Due to increased product assembly and glueing, several industries, such as automotive, packaging, etc., will use adhesives more frequently, raising the need for rosin resin in the adhesive’s manufacturing process., propelling the segment’s growth.

The automotive segment dominated the market with the most significant revenue of USD 1.19 billion.

The automotive segment dominated the market with the most significant revenue of USD 1.19 billion. The use of adhesives in the automotive sector has been positively impacted by the increase in the manufacturing of automobiles due to rising demand.

Market Dynamics:

Drivers: Growing need for adhesives with hot melt

In addition to improving production efficiency, hot melt adhesives provide a dependable and speedy bonding technique that supports environmental sustainability. Furthermore, the demand for hot melt adhesives is further fueled by their versatility, making them appropriate for various applications. Hot melt adhesives have become increasingly popular in the packaging, automotive, construction, and electronics industries because of their capacity to enhance product performance, cut waste, and minimise production costs.

Restraint: Price fluctuation of raw materials

Price fluctuations for energy and crude oil impact the tackifier market. Because of this, participants in the tackifier market hedge their bets using risk management techniques. The price and availability of raw materials are adversely affected by additional external factors, including transportation problems, rule and regulation changes, plant closures, and natural disasters.

Opportunity: Growing applications of agricultural tackifiers

Currently, tackifiers are widely employed in the agricultural industry to bind or immobilise mulch items such as cellulose, pine needles, straw, and other products placed in seeded regions. Tackifiers are employed to stop the substance from moving on the soil’s surface to stop soil erosion, which the compound archives. The growing use of tackifiers in other markets could present significant growth prospects.

Challenges: Strict government laws for synthetic tackifiers

In many countries, synthetic tackifiers are subject to strict regulations by distinct regulatory agencies. Due to their widespread use in the building construction and automotive industries, synthetic tackifiers are subject to several unique regulations depending on the country in which they are produced. In the upcoming years, these elements and the growing preference for limonene components could limit the expansion of the global market.

For Report Purchase Enquiry: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13968

Some of the major players operating in the tackifier market are:

● KRATON CORPORATION
● DRT (Les Derives Resiniques et Terpeniques)
● Exxon Mobil Corporation
● Neville Chemicals Company
● Teckrez Inc.
● Arakawa Chemical Industries,Ltd.
● Arkema Group
● Eastman Chemical Company
● Lawter Inc.
● TWC Group
● Natrochem, Inc.

Key Segments cover in the market:

By Product:

● Rosin Resins
● Terpene Resins
● Hydrocarbon Resins

By End-User Industry:

● Building & Construction
● Packaging
● Footwear
● Automotive
● Non-Wovens
● Others

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: http://www.thebrainyinsights.com

About the report:

The global tackifier market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

Contact Us

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected] 
Web: http://www.thebrainyinsights.com

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.