Tackifier Market annual growth rate is xx percent
Tackifier Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Tackifier Market was valued at USD xx million in 2018 and projected to reach USD xx million by 2023 growing at a CAGR of xx% during the forecast period 2018 to 2023.
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Tackifier Market Growth Drivers and Restraints:
The growth of the tackifier market is propelled by the rising demand from the adhesives industry. The adhesives business has been witnessing a change in modern times, owing to the improved demand for high standards, offering across various end-use industries. These improvements in the adhesives industry are expected to consequently fuel the growth of the tackifiers market.
Tackifier resin distributions are used across various end-use applications such as packaging, construction & buildings, automotive, and nonwovens. The upsurge in separate end-use product demand and industrial construction are the crucial factors increasing the demand for tackifier resin distributions, which in turn, is driving the overall growth of global tackifier market. With the strengthening of state rules and regulations to preserve the environment, demand for environment-friendly solvent-free resin dispersions is supposed to increase in upcoming years that supports the overall market over the projection period.
Packaging is the biggest end-use industry of tackifiers and is required to contribute the highest share to the market by 2020. The increasing demand for packaging from the food and refreshments industry and rising market for biodegradable packaging materials are required to boost the demand for tackifiers in the packaging industry.
Construction adhesives, bookbinding adhesives, footwear & parchment, tapes & labels, etc are having the huge demand for these tackifiers around the world. Some of the prominent application areas of the global market include automotive, building & planning, nonwovens, and packaging.
Geographical Analysis of Tackifier Market:
The global tackifier market is divided on the regional basis into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. The APAC contributed to the highest market shares during 2017 due to the growing number of construction activities. The business will continue to grow in the area for the following four years due to the increasing amount of loans and the upgradation of manufacturing plants. The new upgrade of hydrocarbon production plants and the increasing demand from the packaging industry will also drive the market for tackifiers in Asia Pacific.
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Key Players of Tackifier Market:
The key players of the world tackifier market are Arkema Group, Eastman Chemical Company, Guangdong Komo Co Limited, Arizona Chemicals, and ExxonMobil.
Tackifier Market Segmentation:
By Feedstock:
- Rosin Resins
- Petroleum Resins
- Terepene Resins
By Form:
- Solid
- Liquid
- Resin Dispersion
By Type:
- Synthetic
- Natural
By Application:
- Tapes & Labels
- Assembly Adhesives
- Bookbinding Adhesives
- Footwear, Leather, and Rubber Articles
By End User:
- Automotive
- Building & Construction (Including Furniture)
- Non-Wovens
- Packaging
- Footwears
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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