NEW YORK, July 11, 2016 /PRNewswire/ -- The tackifiers market is projected to reach USD 3.56 billion by 2020.
The tackifiers market is projected to reach USD 3.56 billion by 2020, at a CAGR of 4.8% from 2015 to 2020. The increasing consumption of tackifiers in the packaging industry for pressure sensitive adhesives and recent upgradations of hydrocarbon producing plants are some of the key factors expected to drive the growth of the tackifiers market.
The packaging industry is projected to be the largest end-use industry of the market by 2020.
The packaging end-use industry segment accounted for the largest share of the tackifiers market. This can be attributed to the increased utilization of tackifiers in pressure sensitive adhesives, which are further used in carton boxes, envelopes, carton closure, cups, flexible packaging, specialty packaging, corrugated packaging, bags, and remoistenable products, among others in the packaging industry. Furthermore, the changing lifestyles and the consequent increase in the demand for packaged food in emerging economies, such as China, India, has led to high growth in the packaging industry. Thus, several companies operational in the packaging industry are the target consumers for tackifier manufacturers.
Asia-Pacific is expected to witness highest growth in the tackifiers market by 2020.
The tackifiers market in Asia-Pacific is projected to witness the highest growth between 2015 and 2020. The growth of the tackifiers market in the Asia-Pacific is driven by the increasing demand of tackifiers from China and other countries in the region. China is the major consumer of tackifiers in Asia-Pacific with their high demand in packaging and bookbinding, and is followed by Japan and India. Asia-Pacific is also estimated to contribute the largest share to the global market by 2020.
The synthetic tackifiers segment of the tackifiers market is expected to witness high growth, due to their increased demand proportional to the output of end-user industries.
The synthetic tackifiers segment consisting of hydrocarbon tackifiers is expected to witness high growth for the period under consideration, due to their wide availability and customization ability resulting in significant demand. Natural tackifiers mainly consist of resins tackifiers and terpene tackifiers, both of which are derived from natural feedstock. Limited availability of natural feedstock acts as a major restraint for the growth of the natural tackifiers segment. However, the increasing awareness about bio-based tackifiers and stringent environmental regulations are expected to drive the growth of natural tackifiers in the coming years.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 - 37 %, Tier 2 - 50%, and Tier 3 - 13%
- By Designation: C Level - 50%, Director Level - 31%, and Others - 19%
- By Region: North America - 31%, Europe - 38%, Asia-Pacific - 25%, and RoW - 6%
The major companies profiled in this report are Eastman (U.S.), ExxonMobil (U.S.), Arizona Chemicals (U.S.), Arkema (France), DRT (Dérivés Résiniques et Terpéniques) (France), Lawter (U.S.), Guangdong Komo Co. Ltd. (China), Yasuhara Chemical Co., Ltd., (Japan), and Arakawa Chemical (Japan).
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- What will be the market size by 2020 and what will be the growth rate
- What are the key market trends
- What are the factors expected to drive the growth of the market
- What are the challenges that impact the market growth
- Who are the key players in this market
- The report covers key regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions, such as the U.S., Germany, and China.
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