According to the research report titled ‘GLOBAL Tackifier Market 2021-2028’, available with Market Study Report, worldwide tackifier market is expected to register a yearly growth rate of 4.53% during the forecast period 2021-2028.
 

Global tackifier market growth is mainly driven by increasing use of adhesives, along with surging product demand from tire & rubber industry, claims the study.
 

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Industry experts cite that the demand for hot-melt adhesives in Asia Pacific, accompanied by growing product requirement in construction, packaging, and pharmaceutical industries is presenting new opportunities for industry growth.  
 

On the contrary, low availability of raw materials, coupled with high cost and inconvenience of product usage in pharmaceutical applications are restricting the industry expansion.  
 

Based on product type, global tackifier market is split into natural and synthetic. In terms of form, the market is fragmented into resin dispersion, solid, and liquid. Considering application scope, the industry is categorized into hot-melt adhesive, pressure sensitive adhesive, and others. Moving on, the vertical segmentation comprises book binding, packaging, construction/assembly, non-woven, and others.
 

Elaborating on the geographical outlook, North America (U.S., Canada), Asia Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries), Latin America (Latin America, Brazil), Europe (Russia, Germany, France, Italy, Spain, U.K.), and Middle East and Africa (Turkey, United Arab Emirates, Saudi Arabia, South Africa) are the key contributors to global tackifier industry progression.
 

Asia Pacific market is set to grow at a robust pace during the analysis period, creditable to booming manufacturing sector across various verticals, especially in automotive, packaging, electrical, and industrial machinery industries. Apart from this, positive economic outlook, rapid urbanization, and increasing infrastructure development activities are boosting the business growth in APAC.
 

Leading players in global tackifier market sphere are Yasuhara Chemical Co., Ltd., Westrock Company, TWC Group, Teckrez, Inc., Neville Chemical Co., Natrochem, Inc., Mitsui Chemicals, Inc., Les Derives Resiniques Et Terpeniques SAS, Lawter, Inc., Kraton Corp., Guangdong Komo Co., Ltd., Exxon Mobil Corp., Eastman Chemical Co., Arkema S.A., and Arakawa Chemical Industries, Ltd.