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High Demand for Hot-melt Adhesives to Boost the Global Tackifier Market From 2017-2021, Says Technavio

LONDON--(BUSINESS WIRE)--The global tackifier market is expected to grow at a CAGR of close to 5% during the forecast period, according to Technavio’s latest market research.

In this market research report, covers the market outlook and growth prospects of the global tackifier market for 2017-2021. The market is further categorized into five end-user industries comprising of packaging, non-woven, building and construction, footwear, and automotive.

“The major drivers of the market are urbanization in emerging economies and high demand for hot-melt adhesives, especially in APAC. One of the factors that propel the growth of the hot-melt adhesive market in China and India is the absence of government policies related to high VOC adhesives,” says Ajay Adhikari, a lead specialty chemicals research expert from Technavio.

Technavio’s research analysts segment the global tackifier market into the following regions:

  • APAC
  • Europe
  • North America
  • ROW

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Tackifier market in APAC

The tackifier market in APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to increasing construction activities, rising investments, and upgrading of manufacturing plants. Pressure-sensitive adhesives account for the largest application segment in this region. The recent upgrade of hydrocarbon production facilities and the rising demand from the packaging industry are some of the key drivers for the tackifier market in APAC.

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Tackifier market in Europe

The tackifier market in Europe has reached the development stage, and thus, there will be a stable growth in the tackifier market during the forecast period. The pressure-sensitive adhesive application segment is expected to be the highest contributor in the European market. High consumption levels from the packaging industry and recent upgrades in production plants are the main drivers for the tackifier market in this region. Russia holds a majority of the market share in Europe.

Tackifier market in North America

The tackifier market in North America will grow moderately during the forecast period. The increasing demand for tackifiers is attributed to the rising use of adhesives in industries such as packaging and automotive.

The increasing focus toward the use of composites and the related use of tackifiers will also propel the growth of the North American market. The US is the major shareholder in North America due to the growing repair and construction industry. The high demand for lightweight fuel-efficient vehicles will also push the growth of the tackifier market in the US during the forecast period.

Tackifier market in ROW

The tackifier market in ROW is driven by factors such as rapid growth in the construction and non-woven industries and less stringent government norms regarding volatile organic compound (VOC) content. The non-woven application will provide numerous opportunities in the Middle East and Africa.

“The growing domestic demand from Sub-Saharan Africa, spending on infrastructure, and internal investments have made ROW one of the prime destinations for companies. This will increase the growth and sustainability of the tackifier market in the region during the forecast period,” says Ajay.

The top vendors in the global tackifier market as highlighted in this market research analysis are:

  • Arakawa Chemical Industries
  • Arkema
  • Eastman Chemical
  • ExxonMobil
  • Kraton

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This project has received funding from the European Union Seventh Framework Programme (FP7/2007-2013) under grant agreement n° [609149].

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