Tackifier Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 554.37 Million |
| Market Size (2029) | USD 659.69 Million |
| CAGR (2024 - 2029) | > 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Tackifier Market Analysis
The Tackifier Market size is estimated at USD 554.37 million in 2024, and is expected to reach USD 659.69 million by 2029, growing at a CAGR of greater than 3.5% during the forecast period (2024-2029).
- The COVID-19 outbreak caused nationwide lockdowns around the world, disruptions in manufacturing activities and supply chains, and production halts, all of which had a negative impact on the market in 2020. Subsequently, the market recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- One of the major factors driving the market is the growing urban infrastructure in developing countries. However, the emerging tackifier-free adhesives market is hindering the growth of the market studied.
- Shifting focus towards bio-based tackifiers is expected to provide a major growth opportunity for the market studied. Asia-Pacific accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
Tackifier Market Trends
Building and Construction Industry to Dominate the Market
- Among the end-user industries, building and construction accounts for a significant share of the global tackifiers market currently.
- Pressure-sensitive and water-borne adhesives are in significant demand for various purposes in the building and construction industry for heating, ventilation, air conditioning, concrete, joint cement, manufactured housing, resilient flooring, etc.
- These adhesives use a significant percentage of tackifiers to improve the tack, peel, and bonding of the surface. The growing construction industry across the world is providing growth prospects to the market studied, which is likely to lead to an increasing demand for tackifiers in the adhesive market.
- Rapid urbanization during this time has boosted the construction activities. According to the National Bureau of Statistics of China, China's construction output peaked in 2022 at about CNY 31.20 (USD 4.61 trillion). Thus, it is expected to increase the market demand.
- Further, according to the United States Census Bureau, construction spending in September 2023 was estimated at a seasonally adjusted annual rate of USD 1,996.5 billion, registering a growth of 0.4 % from the revised August estimate of USD 1,988.3 billion.
- In July 2023, compared with June 2023, seasonally adjusted production in the construction sector increased by 0.8% in the euro area and by 0.7% in the EU, according to the initial estimates from Eurostat, the statistical office of the European Union. Conversely, in June 2023, production in construction declined by 1.2% in the euro area and by 1.0% in the EU.
- Hence, owing to the factors mentioned above, the building and construction industry is expected to dominate the market studied during the forecast period.
Asia-Pacific to Dominate the Market
- Continuous improvement in the economic conditions of the Asia-Pacific region has enhanced the financial status of the consumers, which, in turn, has increased the demand for electronic appliances, buildings, automobiles, and textiles in the region.
- China is also one of the largest manufacturers and exporters of adhesives to many countries and occupies a significant share of the Asia-Pacific tackifier market.
- The major adhesive manufacturing companies, such as Henkel AG & Company, KGaA, H B Fuller Company, Ashland, and Evonik Industries AG, have their manufacturing plants in this region, and they are planning to build more manufacturing plants, which likely will increase the production of adhesives. The increase in the production of adhesives and their outputs is expected to drive the consumption of tackifiers.
- In June 2023, Henkel Announced the addition of a New adhesive Manufacturing Facility in China. The new manufacturing facility of Henkel Adhesive Technologies in the Yantai chemical industry park in Shandong province, China. The new plant, 'Kunpeng,’ will cost approximately CNY 870 million (USD 119 million). The new plant will increase Henkel’s production capacity of high-impact adhesive products in China and further optimize the supply chain to meet the increasing demand from domestic and foreign markets.
- Further, in March 2023, Pidilite announced the manufacture of Jowat’s hot melt adhesive in India. The adhesives will be produced at Pidilite's manufacturing plant in Vapi, Gujarat.
- In Japan, according to the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) Japan, in 2022, approximately 859.5 thousand housing developments were initiated, which represented an increase of 0.4% compared to the previous year.
- Furthermore, India is expanding its commercial sector. Several projects have been going on in the country. For instance, the CommerzIII Commercial Office Complex construction worth USD 900 million started in Q1 2022. The project involves the construction of a 43-story commercial office complex with a permissible floor area of 2,60,128 square meters in Goregaon, Mumbai. The project is expected to be completed in Q4 2027, thus benefitting the market growth during the forecast period.
- Thus, the Asia-Pacific region is expected to dominate the tackifier market during the forecast period.
Tackifier Industry Overview
The tackifier market is partially consolidated in nature. The major players in the studied market (not in any particular order) include Arakawa Chemical Industries, Ltd., Eastman Chemical Company, Exxon Mobil Corporation, Arkema, and Yasuhara Chemical Co. Ltd., among others.
Tackifier Market Leaders
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Eastman Chemical Company
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Exxon Mobil Corporation
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YASUHARA CHEMICAL CO., LTD
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Arakawa Chemical Industries, Ltd.
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Arkema
*Disclaimer: Major Players sorted in no particular order
Tackifier Market News
- October 2023: Lawter introduced Snowtack HS80, its new novel 66% high solids grade water-borne resin tackifier dispersion. It is designed for labeling and taping water-based pressure-sensitive adhesives.
- February 2022: Arkema strengthened its engineering adhesives (tackifiers are essential constituents in adhesive formulation) with the acquisition of Shanghai Zhiguan Polymer Materials (PMP) in China.
Tackifier Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Urban Infrastructure in Developing Countries
4.1.2 Growing Demand for Hot-melt Adhesives in Asia-Pacific
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Emerging Tackifier Free Adhesives Market
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Feedstock
5.1.1 Rosin Resins
5.1.2 Petroleum Resins
5.1.3 Terepene Resins
5.2 Form
5.2.1 Solid
5.2.2 Liquid
5.2.3 Resin Dispersion
5.3 Type
5.3.1 Synthetic
5.3.2 Natural
5.4 Application
5.4.1 Tapes and Labels
5.4.2 Assembly
5.4.3 Bookbinding
5.4.4 Footwear, Leather, and Rubber Articles
5.4.5 Other Applications (Profile Wrapping, Etc.)
5.5 End-user Industry
5.5.1 Automotive
5.5.2 Building and Construction
5.5.3 Non-Wovens
5.5.4 Packaging
5.5.5 Footwear
5.5.6 Other End-user Industries (Pulp and Paper, Etc.)
5.6 Geography
5.6.1 Asia-Pacific
5.6.1.1 China
5.6.1.2 India
5.6.1.3 Japan
5.6.1.4 South Korea
5.6.1.5 Rest of Asia-Pacific
5.6.2 North America
5.6.2.1 United States
5.6.2.2 Canada
5.6.2.3 Mexico
5.6.3 Europe
5.6.3.1 Germany
5.6.3.2 United Kingdom
5.6.3.3 France
5.6.3.4 Italy
5.6.3.5 Rest of Europe
5.6.4 South America
5.6.4.1 Brazil
5.6.4.2 Argentina
5.6.4.3 Rest of South America
5.6.5 Middle East and Africa
5.6.5.1 Saudi Arabia
5.6.5.2 South Africa
5.6.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arakawa Chemical Industries,Ltd.
6.4.2 KRATON CORPORATION
6.4.3 Arkema
6.4.4 DRT (Les Derives Resiniques et Terpeniques)
6.4.5 Eastman Chemical Company
6.4.6 Exxon Mobil Corporation
6.4.7 Lawter, A Harima Chemicals, Inc. Company
6.4.8 Neville Chemicals Company
6.4.9 Natrochem, Inc.
6.4.10 TECKREZ, INC.
6.4.11 TWC Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shifting Focus towards Bio-based Tackifiers
7.2 Other Opportunities
Tackifier Industry Segmentation
Tackifiers are chemical compounds that are used in manufacturing adhesives to increase tack, the stickiness of the surface of the adhesive. They are low-molecular-weight compounds that have high glass transition temperatures. They find applications in several end-users such as building and construction, automotive, etc.
The tackifiers market is segmented by feedstock, form, type, application, end-user industry, and geography. By feedstock, the market is segmented into rosin resins, petroleum resins, and terpenes resins. By form, the market is segmented into solid, liquid, and resin dispersion. By type, the market is segmented into synthetic and natural. By application, the market is segmented into tapes and labels, assembly, bookbinding, footwear, leather and rubber articles, and other applications (profile wrapping, etc.). By end-user industry, the market is segmented into automotive, building and construction, non-wovens, packaging, footwear, and other end-user industries (pulp and paper, etc.). The report also covers the market size and forecasts for the market in 15 countries across the globe.
For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| Feedstock | |
| Rosin Resins | |
| Petroleum Resins | |
| Terepene Resins |
| Form | |
| Solid | |
| Liquid | |
| Resin Dispersion |
| Type | |
| Synthetic | |
| Natural |
| Application | |
| Tapes and Labels | |
| Assembly | |
| Bookbinding | |
| Footwear, Leather, and Rubber Articles | |
| Other Applications (Profile Wrapping, Etc.) |
| End-user Industry | |
| Automotive | |
| Building and Construction | |
| Non-Wovens | |
| Packaging | |
| Footwear | |
| Other End-user Industries (Pulp and Paper, Etc.) |
| Geography | |||||||
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Tackifier Market Research FAQs
How big is the Tackifier Market?
The Tackifier Market size is expected to reach USD 554.37 million in 2024 and grow at a CAGR of greater than 3.5% to reach USD 659.69 million by 2029.
What is the current Tackifier Market size?
In 2024, the Tackifier Market size is expected to reach USD 554.37 million.
Who are the key players in Tackifier Market?
Eastman Chemical Company, Exxon Mobil Corporation, YASUHARA CHEMICAL CO., LTD, Arakawa Chemical Industries, Ltd. and Arkema are the major companies operating in the Tackifier Market.
Which is the fastest growing region in Tackifier Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Tackifier Market?
In 2024, the Asia Pacific accounts for the largest market share in Tackifier Market.
What years does this Tackifier Market cover, and what was the market size in 2023?
In 2023, the Tackifier Market size was estimated at USD 534.97 million. The report covers the Tackifier Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Tackifier Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Tackifier Industry Report
Statistics for the 2024 Tackifier market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Tackifier analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
