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Tackifier Market Size

Report ID: GMI7666
Published Date: Dec 2023
Report Format: PDF

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Tackifier Market Size

Tackifier Market was valued at USD 4 billion in 2023 and is anticipated to grow a CAGR of over 3.6% between 2024 and 2032.

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Growth of the tackifier industry is being driven by expanding demand from the packaging, automotive, and building. Specifically, it can be attributed to enhanced adhesive usage. There has been an increased pressure on the market due to strict legislations as well as rise in the level of environmental awareness with regard to eco-friendly and sustainable tackifiers, favouring the use of bio based or natural tackifiers. Besides, Asia pacific too is another major area because of rapid industrialization, infrastructural development, growing packaging segment and innovation in products and their applications further fuel this domain.

Tackifier Market Report Attributes
Report Attribute	Details
Base Year:	2023
Tackifier Market Size in 2023:	USD 4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.6%
2032 Value Projection:	USD 5.5 Billion
Historical Data for:	2018 – 2023
No. of Pages:	120
Tables, Charts & Figures:	197
Segments covered:	Product Type, Form, Application & Region
Growth Drivers:	Increased adhesive demand across industries. Rise in eco-friendly tackifier demand. Growth in Asia-Pacifics industries.
Pitfalls & Challenges:	Environmental regulations limiting synthetic tackifiers. Raw material price volatility impacting costs.

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Environmental regulations restrict some synthetic tackifiers. Volatile raw material prices affect manufacturing costs, posing challenges to stability and profitability in the market.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for tackifier was valued at USD 4 Billion in 2023 and is anticipated to grow a CAGR of over 3.6% between 2024 and 2032, driven by expanding demand from the packaging, automotive, and building sectors.

Synthetic tackifiers segment held a larger market share, around 75% in 2023, owing to specific adhesion characteristics and affordability in formulating adhesives.

The U.S. tackifier market was valued at USD 1.5 billion 2023 and it is expected to generate notable revenues in the upcoming years, backed by distinct tendency among the consumers for ecofriendly and sustainable tackifiers due to environmental issues as well as government regulations.

Eastman Chemical Company, ExxonMobil Corporation, Arkema S.A., Kraton Corporation, DRT (Dérivés Résiniques et Terpéniques) and Yasuhara Chemical Co. Ltd.