Global Tackifier Market 2017-2021
Tackifier resins are typically combined with other polymers to make compounds with required end-use properties. The foremost criterion for the selection of a tackifier resin is the compatibility check between the resin and the polymer under consideration. Viscosity, color, odor, softening point, and stability are few other selection criteria, which affect adhesive properties and the formula cost. The selection of a particular tackifier is critical because of its chemical properties, which are subjected to changes based on its applications.Technavio’s analysts forecast the global tackifier market to grow at a CAGR of 4.85% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tackifier market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tackifier Market 2017-2021
Technavio recognizes the following companies as the key players in the global tackifier market: Arakawa Chemical Industries, Arkema, Eastman Chemical, ExxonMobil, and Kraton.
Other Prominent Vendors in the market are: DRT, GUANGDONG KOMO, Lawter (Harima Chemicals), Neville Chemical, Si Group, Teckrez, Terra Novo, and YASUHARA CHEMICAL
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising variety of packaging tapes. The global tackifier market in the packaging industry will grow with the rising demand for packaging tapes. These tapes undergo varied climatic conditions, especially during transportation depending on their industrial application. Manufacturers are investing in R&D for product innovations like lightweight tapes and ultraviolet-resistant tapes. Manufacturers are also implementing various advanced and modified technologies and plant machinery to reduce the time required for products to reach the market.”
According to the report, one of the major drivers for this market is Increasing demand for hot-melt adhesives in APAC. In APAC, China, India, Japan, and South Korea are the major consumer markets of hot-melt adhesives. China leads this market in terms of consumption because of favorable conditions, such as improving financial status of the consumers, which is leading to high purchasing power, changing lifestyles, and changes in food consumption patterns. These conditions, in turn, are boosting the related industries and are driving the growth of the tackifier market in the hot-melt adhesive segment in APAC.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuation in raw material prices. The tackifier market is exposed to fluctuations pertaining to crude oil and energy prices. In past few years, the supply and demand for crude oil and natural gas were stable. However, in the mid-2014, when the Organization of the Petroleum Exporting Countries announced no reduction in production to match crude oil supply and demand across the world, prices of crude oil witnessed a rapid decline. However, till date, fluctuation in raw material prices, especially for crude oil-based feedstock, hinder the market growth for tackifiers.
Arakawa Chemical Industries, Arkema, Eastman Chemical, ExxonMobil, Kraton, DRT, GUANGDONG KOMO, Lawter (Harima Chemicals), Neville Chemical, Si Group, Teckrez, Terra Novo, and YASUHARA CHEMICAL
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