The global tackifier market is estimated to witness a CAGR of 4.08% to reach US$3,193.279 million in 2024 from US$2,512.078 million in 2018. Tackifiers are amorphous, glassy, low molecular weight polymers which are used in formulating adhesives to increase the tack and stickiness of the surface of the adhesive. There are hundreds of tackifier resins available but nearly all are based on three basic raw material feed streams, hydrocarbon, rosin, and terpene resins.
Growing demand for adhesive from end-user industries like packaging, automobile, construction, and others, is considered as the driving factor for the growth of the market. The use of adhesives has increased significantly in the last decade in the automotive industry due to several advantages over traditional ways of mechanical fastening such as joining of different substrates, reduction in joint weight, etc. Use of adhesive also eliminates chances of corrosion at joints. Increase in investment in developing economies in the manufacturing sector has increased the demand for adhesives which widens up the scope of growth for tackifier market globally. However, the availability of tackifier free adhesive products is expected to hinder the growth of the market. For example, Kurarity, an acrylic block copolymer produced by Kuraray provides excellent adhesive properties without the use of tackifier. APAC contributes a significant market share due to an increase in investment and manufacturing activities in this region.
o Growing demand for adhesives in industries like packaging, automobile, and construction others.
o Increase in investment in developing nations.
o Availability of tackifier free adhesive products.
• INDUSTRY UPDATE
o In February 2018, Hexion Inc. introduced a new line of aromatic resin tackifiers with improved performance and better environmental profile compared with current market options
o Braskem offered hydrocarbon resins for adhesive and sealant applications in November 2017.
The global tackifier market has been analyzed through the following segments:
• By Type
o Hydrocarbon Resins
o Rosin resins
o Terpene resins
• By End User
• By Geography
o North America
o South America
o United Kingdom
o Middle East and Africa
o Saudi Arabia
o Asia Pacific
o South Korea