Global Petroleum Resin Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

Global Petroleum Resin Market Introduction:

“The global Petroleum Resin Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Petroleum resins are by-products of petroleum cracking. Petroleum resins are also known as an alternate such as hydrocarbon resins. Petroleum resins are the synthetic resins produced from chemical and polymerization processes. These resins are formed from a variety of feedstock including aromatic (C9), aliphatic (C5), DCPD (dicyclopentadiene) or mixtures of these.

These resins are utilized in various applications such as sealants and adhesives, coatings and inks, paints, plastic and rubber compounding industries, footwear and leather, contact adhesives, hot melt adhesives, and wax modification among others. These are also increasing demand for the petroleum resins in hot melt adhesives. This is owing to its properties such as high thermal stability and low odor.

Dynamics

Increasing demand for the petroleum resins across various end-use industries such as building & construction and tyre industries is key factor expected to drive growth of the global market over the next 10 years. In addition, increasing application scope in paints & coatings and rubber compounding industries is key factor expected to support revenue growth of the potential market over the next few years.

In addition, various features offered by petroleum resins such as chemical resistance, pressure resistance, adhesion, and others is another key factor estimated to fuel adoption of these resins, which in turn to drive growth of the global market over the forecast period. Moreover, petroleum resin has various application in different industrial sectors, which in turn anticipated to drive growth of the global market in the next 10 years.

Region Analysis

Asia Pacific petroleum resin market is expected to account for significant share in terms of revenue in the global petroleum resin market. In addition, Asia Pacific market is also anticipated to register faster growth in terms of revenue over the next few years, owing to increasing demand from building & construction and paint industries in countries in this region. In addition, increasing investments by public and private various manufacturers in Asia Pacific region and rising demand from various end-use application industries are among other key factors projected to drive growth of the Asia Pacific market in the next 10 years.

The market in China is projected to account for significant share in terms of revenue in the Asia Pacific market. Growing awareness regarding various properties offered by these materials among producers in the countries in this region are other factors expected to drive growth of various end-use application industries, which in turn is anticipated to support revenue growth of the global market in this region.

Global Petroleum Resin Market Segmentation:

Segmentation by type:

• C5 Resins
• C9 Resins
• Hydrogenated Hydrocarbon Resins
• C5/C9 Resins

Segmentation by application:

• Adhesives & Sealants
• Printing Inks
• Paints & Coatings
• Rubber Compounding
• Tapes & Labels

Segmentation by end-use industries:

• Building & Construction
• Tire Industry
• Automotive
• Personal Hygiene
• Consumer Goods

Segmentation by region:

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