Petroleum Resins Market size Garner Brimming Revenues by 2026

Global Petroleum Resins Market size was valued at US$ 2.5 Bn in 2017 and is expected to reach US$ 4.7 Bn by 2026 register at a CAGR of 8.2 % during the forecast. Global petroleum resins market is segmented by product, by application, by product and by region. Based on product, petroleum resins market is segmented into C5, C9, C5/C9, and hydrogenated. In terms of end user, petroleum resins market is divided into automotive, construction, packaging, consumer goods, personal hygiene and others. Paints, adhesives, printing inks, rubber, and tapes are application segments of petroleum resins market. Geographically, petroleum resins market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. 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.

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 C5 resins segment leaded the petroleum resin market in 2017 owing to advantages of aliphatic C5 resins such as better glutinosity, good anti-ageing properties, fluidity, low volatility, and minimized odour. C5/C9 segment is estimated to witness a rapid growth due to its growing consumption in heavy end use industries. Moreover, the hydrogenated resin is set to grow at the highest rate due to eco-friendly and reliable nature offered. 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 and 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. North America market is foreseen to be lucrative markets for petroleum resins. Growing demand for hydrocarbon resins from some of the burgeoning sectors and factors such as high disposable income along with the increasing investments in the end-use industries are propelling the market growth, boosting the demand for the product. 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 product 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. 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.

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Scope of the Global Petroleum Resins Market

Global Petroleum Resins Market, by Product:

• C5 • C9 • C5/C9 • Hydrogenated

Global Petroleum Resins Market, by Application:

• Paints • Adhesives • Printing Inks • Rubber • Tapes

Global Petroleum Resins Market, by Application r :

• Automotive • Construction • Packaging • Consumer goods • Personal hygiene • Others

Global Petroleum Resins Market, by Region:

• North America • Europe • Asia Pacific • Middle East & Africa • Latin America.

Key Players analysed in Global Petroleum Resins Market:

• Arakawa Chemical Industries • Eastman Chemical Company • Exxon Mobil Corporation • Kolon Industries • Lesco Chemical Limited • Zeon Corporation • Seacon Corporation • Neville Chemical Company • Total Cray Valley • Anglxxon Chemical Co. • Idemitsu Kosan Co.,Ltd • Puyang Changyu Petroleum resins Co., Ltd • BASF • The Dow Chemical Company • Cray Valley

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