Global Petroleum Resins Market segmented by product (C5, C9, C5/C9, and hydrogenated), by application (automotive, construction, packaging, consumer goods, personal hygiene and others), by End User (Paints, adhesives, printing inks, rubber, and tapes) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 4.7 Bn by 2026 register at a CAGR of 8.2 % during the forecast.
Petroleum resins market is driven by increasing demand from end user such as personal hygiene, tire, automotive, printing inks, sealants, paints, specialty tapes, repositionable tapes, packaging tapes, and building & construction. Increasing demand for hydrocarbon resins in adhesives due to their properties such as good adhesion, improved adhesive bond strength, acid resistance, alkali resistance, and water resistance along with the increasing usage in book binding end-use industries are propelling the hydrocarbon resins market during the forecast period. Rise in regulations on a global level and constant up gradation as well as increasing shifts toward environment and sustainability trends are some factors hampering the petroleum resins market.
Adhesive and sealants grabbed major share of petroleum resin market.
Petroleum resins are used as tackifiers in adhesives and sealants to improve tack, peel strength, specific adhesion, balance adhesion and cohesion, enhance high temperature performance, and decrease cohesive strength.
Automotive industry leaded the petroleum resins market in 2017.
Automotive industry will continue its dominance throughout the forecast owing to the use of petroleum resins in rubber compounding to enhance modulus of the compound and chipping resistance.
Asia Pacific petroleum resin market to grow at faster pace.
Asia Pacific petroleum resin market is flourishing due to the expanding production capacities in the region, substantial investments, and automation. Moreover, the endless consumption of the petroleum resins in some of the major end-use industries make the countries such as China, Japan, and India are the major contributors to the market growth. Automotive manufacturing bases present in India, China, Japan, and South Korea are, in turn, expected to drive the petroleum resin market.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Arakawa Chemical Industries, Eastman Chemical Company, Exxon Mobil Corporation, Ltd., Kolon Industries, Inc., Lesco Chemical Limited, Zeon Corporation, Seacon Corporation, Neville Chemical Company, Total Cray Valley, and Anglxxon Chemical Co., Ltd., Exxon Mobil Corporation (U.S.), Eastman Chemical Company (U.S.), Idemitsu Kosan Co.,Ltd (Japan), Puyang Changyu Petroleum resins Co., Ltd.(China), Arakawa Chemical Industries,Ltd (Japan), Kolon Industries, Inc(South Korea), BASF SE(Germany), The Dow Chemical Company( U.S.), Cray Valley(France), and Neville Chemical Company.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Global Petroleum Resins Market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Petroleum Resins Market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Petroleum Resins Market positioning of competitors.
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