The global tackifier market is set to project a CAGR of 4.97% during the forecast period, 2021-2028. The growing demand from the adhesives industry, the growing tire & rubber industry, and the increasing demand from the construction, packaging, and pharmaceutical industries, propel market growth.
Tackifiers are chemical compounds that formulate adhesives to increase their stickiness or tack of the surface. They have low molecular weight, temperature above room temperature, and glass transition temperature, imparting viscoelastic properties. The flourishing end-use industries, like packaging and construction, positively impact the global tackifier market. Tackifiers have extensive applications in the furniture and packaging sectors. The primary applications of tackifier adhesives are door sealants, packaging tray seals, and seat upholstery attachments in the packaging & construction sectors.
In the pharmaceutical industry, tackifiers are used in tapes, monomer-polymer mixtures, liquid or powder curing agents, solvent-based liquids, and emulsions. In the medical industry, there is rising usage of pressure-based and water-based adhesives. These are used to join medical devices and tissue-bonding agents. Several applications require medical-grade tapes and films, which use high quality tackifier adhesives. However, the fluctuating raw material prices and challenges in tackifier selection for pharmaceutical use are assessed to be the major growth restraining factors.
The geographical segmentation of the global tackifier market includes the evaluation of Europe, North America, Asia Pacific, and rest of world. The Asia Pacific region is estimated to harbor the largest market share, and the highest CAGR by 2028. The rising urbanization and the thriving manufacturing sector are the significant factors fueling growth in the region.
The market is highly integrated with key players, suppliers, and manufacturers harboring a major portion of the tackifiers market. Also, there is considerable competition among the existing players in the market. Arkema SA, Eastman Chemical Company, Kraton Corporation, Yasuhara Chemical Co Ltd, Arakawa Chemical Industries Ltd, etc., are among the distinguished players of the market.
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