Development of the urban infrastructure and increased manufacturing activities are expected to provide opportunities for the tackifier market growth

The global tackifier market surpassed USD 2.90 billion in 2019 and is expected to rise at a CAGR of 5.0% by the end of 2028. The tackier market is as fragmented as synthetic tackers and natural tackifiers as far as types are concerned. Because of the simple accessibility of hydrocarbon feedstocks concerning volume and grades, the portion of the synthetic tackifiers was higher on the market and the natural kind is expected to grow faster. The tacker market was grouped into three fragments based on the frame to represent a specific dispersion of solid, liquid, and resin.

Growing demand for end-use industry adhesives, product progress in the tire industry, increasing demand in the packaging industry, and increased demand in the Asian-Pacific are the major drivers for tackifier's market growth. While the limited supply of feedstock and volatility of the prices of raw materials, increasing market penetration in Limonene are restricting factors for market growth. Organic tackifiers have restricted entering the adhesive company in the business market. For several years, bio-based tackifiers have been used as part of the adhesive industry. The high costs and restricted access to raw material feedstock, however, postponed sea development.

The report comprises of the various verticals that is depicted with the value chain analysis of the market. In addition to this, several quality components in the tackifiers industry are included in the market study such as market constraints, key driving factors, and upcoming opportunities. The report also includes a detailed market assessment by companies profiling and local and global supplier competition.

A strong competition among the already known and new players are found in the tackifier market. In addition to this, tackifier players are pursuing potential markets to take on a competitive lead among other players in the sector by forming fusions and acquisitions, contracts, acquiring other companies and new startups, establishing partnerships, and increasing its business life.

Europe is the largest market; however, in this field, the market has reached a development stage and, in this area's conjecture, interest in tackifiers is thus reduced. Asia-Pacific is the second-largest market, due to the growth of end-user companies in this field; Asia-Pacific is expected to lead the market over the years ahead. In the next few years, huge speculations by the real players are relied on to help the market develop. As a result of the development of the end-customer companies, for example, glues, elastic preparations, China contributed 43.8% to the tackier market in Asia and the Pacific. Because of the delicate demand by end-user companies, the North American market for tackifiers is developing nominally. The tackifier market in North America accounts for 25.0% of the global market.

In contrast, there are few inconveniences for the market, including instability in the cost of raw materials and the shift of the oil split to lighter feed. These aspects can act as an obstacle to market development.

Segment Overview of Global Tackifier Market

Key Segments of the Global Tackifier Market

Type Overview, 2018-2028 (USD Million)

• Synthetic
• Natural

End-user Overview, 2018-2028 (USD Million)

• Bookbinding
• Nonwoven
• Construction/Assembly
• Packaging

Form Overview, 2018-2028 (USD Million)

• Solid
• Liquid
• Resin Dispersion

Regional Overview, 2018-2028 (USD Million)

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Middle East and Africa

• UAE
• South Africa
• Rest of Middle East and Africa

South America

• Brazil
• Rest of South America