MASTIC REMOVER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Rising raw material costs is proving to be a major challenge for the growth of the mastic remover market. Mastic removers are primarily composed of chemicals and solvents which are petroleum-based derivatives. Over the past year, a significant rise in oil and gas prices due to supply chain disruptions caused by the COVID-19 pandemic and geopolitical tensions. Russia's invasion of Ukraine has further exacerbated these issues and pushed commodity prices to record highs.

Opportunities: Emergence of electric vehicles

The emergence of electric vehicles presents a great opportunity for the mastic remover market to grow substantially in the coming years. As electric vehicles continue to gain wider acceptance and market share globally, the need to remove old mastic during installations of newer charging stations will rise significantly. Currently, mastic is used at commercial locations like parking lots as an adhesive to hold wiring and other equipment in place. As countries around the world look to expand their electric vehicle charging infrastructure via installing thousands of new charging points each year, it often requires the removal of existing mastic substrates.