Tackifier Market - By Product Type (Synthetic tackifiers, Natural tackifiers), By Form (Solid, Liquid, Resin Dispersions, By Application (Packaging, Bookbinding, Non-Woven, Construction, Automotive) & Forecast, 2024 – 2032

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.
 

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.

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

Tackifier Market Trends

The major trends in tackifier industry include an increased focus on green and ecological approach, which is caused by growing consumer demand for biodegradable tackifiers motivated by environmental safety and legislative regulations. There is an increasing acceptance of innovations in both the formulation for the development as well the applications, specifically in the areas like for example packaging, automotive, and constructions. Rapid industrialization in the Asia Pacific remains one of the major boosters for the market’s ongoing globalization, intensifying its outburst and diffusion worldwide
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Tackifier Market Analysis

Based on Product Type, synthetic tackifiers have historically held a larger market share, around 75% in 2023. There are visible trends in the global market for synthetic and natural tackifiers. Tackifiers were previously largely synthetic because they provided specific adhesion characteristics and affordability in formulating adhesives. Nevertheless, consumers have started demanding tackifiers that are ecofriendly due to growing environmental concerns. These natural tackifiers are also drawn from renewable materials that conform to the changing environmental laws and green choices preferred by consumers making a gradual and steady increase in popularity. Technological advances also promote the replacement in many sectors where natural options offer better performance and are more compatible with the numerous applications, ultimately becoming stronger over time.
 

Based on form, solid holds a substantial share of 55% in 2023. There are distinctive movements in the industry concerning its solid, liquid, and resin dispersions formats. Solid tackifiers remain dominant due to their stability and ease of handling, particularly where slow creep or high tack is desired. On the other hand, liquid tackifiers are catching up due to their versatility in formulations and application methods mainly in the industries which look for quicker production processes. Resin dispersions represent only a small percentage but are promising because they can be mixed with water-based systems attracting green market with less VOC emissions.
 

Based on by application, the packaging holds a significant share, about 35% in 2023. The packaging segment has emerged as a major player in the tackifier market due to the rising demand for eco-friendly packaging solutions by consumers. Currently, there is increased demand for bio-based tackifiers in packaging applications because of the environmental concerns and regulatory issues that have seen the move away from traditional materials. Also, the increasing demand for dependable adhesives with respect to packaging is influenced by the development of e-commerce and electronic retail services across the world. Also there is a modest growth of bookbinding and non-woven segments because of the innovations in adhesive products with stable demand. Nonetheless, although it is the major segment, construction is cyclical in nature and is dictated by economics cycles that affect its overall growth in the market.
 

U.S, with its well-established industries and a strong focus on innovation and technology, constitutes a market value in USD 1.5 billion 2023 of the global market. Several key drivers of growth for the U.S. market. This has greatly contributed by increased demand of adhesives in packaging, automotive, and constructions among others. In addition, there is a distinct tendency for ecofriendly and sustainable tackifiers owing to environmental issues as well as government regulations. In addition to this, the US market is supported by constant innovations within product formulations and applications.
 

Tackifier Market Share

Some of the major market players operating in the tackifier industry are Eastman Chemical Company, ExxonMobil Corporation, Arkema S.A., Kraton Corporation, DRT (Dérivés Résiniques et Terpéniques), Yasuhara Chemical Co. Ltd., among others. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

In July 2023, ExxonMobil Corporation has finalized an agreement to acquire Denbury Inc., a move that underscores its commitment to expanding its Low Carbon Solutions sector. This acquisition is aimed at strategically broadening its capacity to cater to challenging-to-decarbonize industries by providing an extensive carbon capture and sequestration portfolio.
 

Tackifier Market Companies

Major players operating in the tackifier industry include:

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

Tackifier Industry News

• In May 2021, SI Group, a prominent performance additives firm, has plans to boost tackifier resin capacity at its manufacturing site in Lote, India, by approximately 75%. This strategic expansion aims to elevate the facility into a regional center for top-notch tackifier resin production and advanced technology. The investment is a response to rising demand for Novolac tackifiers in a key market region. The expansion will unfold in two phases, with the first slated for completion by the end of 2021, followed by the commercialization of the second phase in the latter part of 2022.
   

The tackifier market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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By Product Type

• Synthetic tackifiers
• Natural tackifiers

By Form

• Solid
• Liquid
• Resin Dispersions

By Application

• Packaging
• Bookbinding
• Non-Woven
• Construction
• Automotive
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE