Hydrocarbon Resins Market: Global Industry Analysis and Forecast (2024-2030)

The Hydrocarbon Resins Market is expected to reach US$ 3.08 Bn in 2030, with a CAGR of 6.8% for the period 2024-2030, because of rising concentration of manufacturers' towards production of economic range of products.
Hydrocarbon Resins Market Introduction:
Pure monomer hydrocarbon feedstock is polymerized and hydrogenated to make hydrocarbon resins. Tackifying aliphatic polymers, such as natural rubber, EVA, SIS, and APO, is usually done with C5 type hydrocarbon resins. Hydrocarbon resins of the C9 type are commonly used in flooring adhesives.

C5/C9 aliphatic/aromatic resins are used in EVA, SBS, and natural rubber polymers, whereas C5/C9 aliphatic/aromatic resins are utilised in EVA, SBS, and natural rubber polymers. In addition, due to particular synthetic rubber demand, significant growth in the adhesives & sealants and rubber industries is expected to positively impact the overall hydrocarbon resins market size in the approaching years.To know about the Research Methodology :- Request Free Sample Report

The report has covered the market trends from 2018 to forecast the market through 2030. 2023 is considered a base year however 2023’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Hydrocarbon resins from around the world are perfect for e-commerce packaging. Hot melt technology is perfect for packing cardboard boxes, self-adhesive strips, packaging tape, and other items. The COVID-19 pandemic, according to the United Nations Conference on Trade and Development (UNSTAD), boosted the percentage of online commerce, resulting in a 19 percent total share in 2023. Global e-commerce reached a record high of USD 26.7 trillion, up 4% from the previous year. Also, in countries such as South Korea, this resulted in a 25.9% growth in 2021, up from 20.8 percent the year before. Growing worldwide e-commerce demand, growing need for hot melt adhesive technology, and specialized applications of hydrocarbon resin in packaging are all expected to continue to be important growth drivers.
Hydrogenated Resin Volume Expansion:
With hydrogenation technology readily available and the Made in China 2029 mandate, Chinese manufacturers are building new facilities and updating existing ones to create more hydrogenated resins. Based on all existing and planned additions, Chinese producers are estimated to produce 130 percent of the global capacity in 2021. Between 2015 and 2021, 712kT of capacity will be built, the majority of which will be in China.
Growth of the Adhesives Industry Has a direct impact Demand for Hydrocarbon Resins:
Hydrocarbon resins have seen significant demand over the years due to their colour and odor-free nature, as well as the fact that they have no negative health effects. The need for hydrocarbon resins is being bolstered by changing customer and regulatory requirements.

New criteria for specialized hot melt adhesives, such as softening point, defined compatibility, and thermostability, have contributed to the increase in demand. Formulated resins are created with these and other demanding applications and product needs in mind.

Fully hydrogenated resins are becoming more common in pressure-sensitive adhesive compositions. Hydrocarbon resin-made adhesives are utilised in a variety of industries, including food packaging, carpentry, PSAs, and diapers.
Manufacturers Are Concentrating on a Low-Cost Product Range:
The global hydrocarbon resins market is a competitive market with end users looking for items in the low-cost range for their end products. Manufacturers of hydrocarbon resins are working to develop high-quality, low-cost products to suit this need.

This element also drives product development, which boosts demand for and sales of hydrocarbon resins. Furthermore, end consumers choose items with low carbon emissions, which reduces overall waste disposal costs while simultaneously increasing profit.
Global Hydrocarbon Resins Market Revenue Led by Type:
Hydrocarbon resins are glass-like oligomers created by polymerizing by-product streams including aliphatic (C5), aromatic (C9), and DCPD (dicyclopentadiene) derived mostly from the cracking of petroleum hydrocarbons for ethylene synthesis. These hydrocarbon resins can be hydrogenated to improve colour, smell, and stability while also affecting compatibility. Hydrocarbon resins are brittle or sticky substances made by polymerizing several unsaturated components of coal tar, rosin, or petroleum. As a result, in the foreseeable term, C5 and C9 are expected to lead the market.

In addition to increasing production of C5 and C9 petroleum resins, manufacturers are increasing their capacity for hydrogenated hydrocarbon resins. Rain Carbon Inc.'s NOVARES brand is becoming known for its pure series of hydrogenated hydrocarbon resins, which are created using a highly efficient hydrogenation and purification method and a well-controlled molecular design.

Hydrogenated hydrocarbon resins led the global hydrocarbon resins market in 2023. This is thanks to an increase in global investment in construction and building activity. Water-white colours, heat stability, weathering resistance, and low odour are just a few of the benefits of these types of resins.
Regional Insights:
North America, Europe, Asia Pacific, Africa & Middle East, and South America are the primary regions covered in the global hydrocarbon resin market report. The Asia Pacific is expected to grow fast because of increased infrastructural investment. For example, China has pledged a multi-billion dollar investment in the Belt and Road Initiative. India has made similar announcements, stating that it is invest over USD 1.4 trillion between 2024 and 2030. For companies in the global hydrocarbon resin market, the expanding investment in infrastructure and important application of hydrocarbon resin in road asphalt represents a promising prospect for growth. Aside from construction, the global demand for electric vehicles continues to be a major development opportunity for the global hydrocarbon resin market.

Hydrocarbon resins used in the manufacture of rubber and other adhesives can help automobiles run more efficiently and perform better. The battle to produce more fuel-efficient electric vehicles, as well as the critical role of adhesives, paints, and coatings in vehicle manufacturing, are likely to fuel powerful new growth segments.

The objective of the report is to present a comprehensive analysis of the global Hydrocarbon Resins market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Hydrocarbon Resins dynamics, structure by analyzing the market segments and projecting the Hydrocarbon Resins size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Hydrocarbon Resins market make the report investor’s guide.
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Hydrocarbon Resins Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.94 Bn.


Forecast Period 2024 to 2030 CAGR:
6.8%
Market Size in 2030:
US $ 3.08 Bn.


 Segments Covered:
by Type
C5 Petroleum Resins
C9 Petroleum Resins
C5/C9 Petroleum Resins
Hydrogenated Hydrocarbon Resins


by Application
Adhesives & Sealants
Printing Inks
Rubber Compounding
Paints & Coatings
Tapes & Labels
Others (including Lubricants)


by Industry
Building & Construction
Personal Hygiene
Tires
Automotive
Others (including Oil & Gas



Hydrocarbon Resins Market,by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Hydrocarbon Resins Market Key Players
1. Eastman Chemical Company
2. Exxon Mobil Corporation
3. Total SA (Cray Valley)
4. KOLON Industries Inc.
5. Lesco Chemical Limited
6. ZON CORPORATION
7. Arakawa Chemical Industries Ltd.
8. Shadong Landun Petroleum Resin Co., Ltd.
9. Puyang Tiacheng Chemcal Co., Ltd.
10. Shanghai Jinsen Hydrocarbon Resins Co, Ltd.
11. Neville Chemical Company
12. HIGREE
13. Cray Valley
14. RÜTGERS Group
15. Qingdao Bater Chemical
16. Qingdao Eastsun New Materials Corporation
17. MITSUI CHEMICALS AMERICA
18. Others

Frequently Asked Questions:

1. Which region has the largest share in Global Hydrocarbon Resins Market?
Ans: North America region held the highest share in 2023.

2. What is the growth rate of Global Hydrocarbon Resins Market?
Ans: The Global Hydrocarbon Resins Market is growing at a CAGR of 6.8% during forecasting period 2024-2030.

3. What is scope of the Global Hydrocarbon Resins market report?
Ans: Global Hydrocarbon Resins Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Hydrocarbon Resins market?
Ans: The important key players in the Global Hydrocarbon Resins Market are – Eastman Chemical Company, Exxon Mobil Corporation, Total SA (Cray Valley), KOLON Industries Inc., Lesco Chemical Limited, ZON CORPORATION,

5. What is the study period of this market?
Ans: The Global Hydrocarbon Resins Market is studied from 2023 to 2030.