Global Petroleum Resins Market size was valued at US$ 2.71 Bn in 2019 and is expected to reach US$ XX Bn by 2026 register at a CAGR of XX% during the forecast.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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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. Also, increasing demand for hydrocarbon resins in adhesives because of their properties such as good adhesion, improved adhesive bond strength, acid resistance, alkali resistance, and water resistance together with the increasing usage in bookbinding end-use industries are boosting the hydrocarbon resins market throughout the forecast period.
However, a rise in regulations on a global level and constant up-gradation, as well as increasing shifts toward environment & sustainability trends, are some factors hindering the petroleum resins market.
Based on the product, the C5 resins segment led the petroleum resin market in 2018 on account of advantages of aliphatic C5 resins such as better glutinosity, good anti-aging properties, fluidity, low volatility, and minimized odor. Also, C5/C9 segment is expected to witness rapid growth due to its growing consumption in heavy end-use industries. Moreover, the hydrogenated resin is set to grow at the highest rate attributable to eco-friendly and reliable nature offered.
Adhesive and sealants grabbed a major share of the 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.
By the end-user, the automotive industry led the petroleum resins market in 2018 and will continue its dominance throughout the forecast on account of the use of petroleum resins in rubber compounding to enhance modulus of the compound and chipping resistance.
Region-wise, 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 together with the increasing investments in the end-use industries are propelling the market growth, boosting the demand for the product.
Furthermore, the Asia Pacific petroleum resin market is flourishing because of 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 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.
The objective of the report is to present a comprehensive analysis of the Global Petroleum Resins Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers and new entrants by Application. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have 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 Global Petroleum Resins Market dynamics, structure by analyzing the market segments and project the Global Petroleum Resins Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Petroleum Resins Market make the report investor’s guide.
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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 End User, :
• 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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