Hydrocarbon Resins Market Key Companies and SWOT Analysis by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Hydrocarbon Resins Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (C5 Petroleum Resins, C9 Petroleum Resins, C5/C9 Petroleum Resins, and Others) and Application (Adhesives and Sealants, Printing Inks, Rubber Compounding, Paints and Coatings, Tapes and Labels, and Others)

Report Date : Dec 2021
Report Code : TIPRE00016535

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 153

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The hydrocarbon resins market was valued at US$ 1,921.30 million in 2021 and is projected to reach US$ 2,730.83 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Hydrocarbon resins are amorphous thermoplastic polymers that are produced by the polymerization of unsaturated hydrocarbons. They can be hydrogenated to improve their color and thermal stability. Based on type, the global hydrocarbon resins market is segmented into C5 petroleum resins, C9 petroleum resins, C5/C9 petroleum resins, and others. C5 resins are available in a wide range of softening points and molecular weights.

In 2020, Asia Pacific held the largest revenue share of the global hydrocarbon resins market. The building & construction industry, primarily in China and India, is a strong contributor to the market's growth. In India, the construction industry is the second largest industry after agriculture, accounting for about 11% of the country's GDP. Furthermore, with the growing application of hydrocarbon resins in numerous verticals and the efforts undertaken by leading chemical companies, the hydrocarbon resins market is predicted to grow in the Asia Pacific region.

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Hydrocarbon Resins Market: Strategic Insights

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Impact of COVID-19 Pandemic on Hydrocarbon Resins Market

The COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the hydrocarbon resins market. The significant decline in the growth of several industrial sectors has impacted the demand for hydrocarbon resins in the global market. The demand for hydrocarbon resins has contracted with the reduced demand for C5 and C9 petroleum resins. The adhesives and sealants industry has faced many challenges during the pandemic. The COVID-19 pandemic has also impacted demand for hydrocarbon resins from the tire and rubber industry as many tire plants temporarily halted their production. However, as the economies are planning to revive their operations, the demand for hydrocarbon resins is expected to rise globally. The demand for hydrocarbon resins from the downstream adhesive and paint sectors has started rising with the resumption of business activities and the lifting of lockdown measures globally.

Market Insights

Growing Use of Hydrocarbon Resins in Printing Inks and Rubber Compounding

Hydrocarbon resins are used in various applications, including printing inks and rubber compounding. C9 hydrocarbon resins are highly used in printing inks. They have various advantages, such as color spreading, fast-drying, and brightening effects. Moreover, hydrocarbon resins are used for rubber and tire compounding. The growing automotive industry in various countries around the globe is creating the demand for tires, thereby driving the hydrocarbon resins market during the forecast period.

Application Insights

Based on application, the global hydrocarbon resins market has been segmented into adhesives and sealants, printing inks, rubber compounding, paints and coatings, tapes and labels, and others. The adhesives and sealants segment held the largest share of the global hydrocarbon resins market in 2020. Hydrocarbon resins are an important ingredient in the formulation of adhesives and sealants. Hydrocarbon resins are good tackifiers. The growing demand for adhesives for various applications is boosting the hydrocarbon resins market growth.

The key players operating in the global hydrocarbon resins market include Eastman Chemical Company; EXXON MOBIL CORPORATION; Kolon Industries Inc.; Shandong Landun Petroleum Resin Co., Ltd.; Puyang Tiancheng Chemical Co., Ltd.; Shanghai Jinsen Hydrocarbon Resins Co., Ltd; Lesco Chemical Limited; Henan Anglxxon Chemical Co., Ltd.; Arakawa Chemical Industries, Ltd.; RESIN CHEMICALS CO., LTD; and Neville Chemical Company. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.

Hydrocarbon Resins Market Regional Insights

The regional trends and factors influencing the Hydrocarbon Resins Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hydrocarbon Resins Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

hydrocarbon-resins-market-global-geography

Get the Regional Specific Data for Hydrocarbon Resins Market

Hydrocarbon Resins Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 1.92 Billion
Market Size by 2028	US$ 2.73 Billion
Global CAGR (2021 - 2028)	5.2%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type C5 Petroleum Resins C9 Petroleum Resins C5/C9 Petroleum Resins By Application Adhesives and Sealants Printing Inks Rubber Compounding Paints and Coatings Tapes and Labels
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Eastman Chemical Company EXXON MOBIL CORPORATION Kolon Industries Inc. Shandong Landun Petroleum Resin Co., Ltd. Puyang Tiancheng Chemical Co., Ltd. Shanghai Jinsen Hydrocarbon Resins Co., Ltd Lesco Chemical Limited Henan Anglxxon Chemical Co.,Ltd. Arakawa Chemical Industries,Ltd.

Hydrocarbon Resins Market Players Density: Understanding Its Impact on Business Dynamics

The Hydrocarbon Resins Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Hydrocarbon Resins Market are:

Eastman Chemical Company
EXXON MOBIL CORPORATION
Kolon Industries Inc.
Shandong Landun Petroleum Resin Co., Ltd.
Puyang Tiancheng Chemical Co., Ltd.

Disclaimer: The companies listed above are not ranked in any particular order.

Get the Hydrocarbon Resins Market top key players overview

Report Spotlights

Progressive industry trends in the hydrocarbon resins market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the hydrocarbon resins market from 2019 to 2028
Estimation of global demand for hydrocarbon resins
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook, as well as factors driving and restraining the growth of the hydrocarbon resins market
Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
The size of the hydrocarbon resins market size at various nodes
Detailed overview and segmentation of the market, as well as the hydrocarbon resins industry dynamics
Size of the hydrocarbon resins market in various regions with promising growth opportunities

Global Hydrocarbon Resins Market

Type

C5 Petroleum Resins
C9 Petroleum Resins
C5/C9 Petroleum Resins
Others

Application

Adhesives and Sealants
Printing Inks
Rubber Compounding
Paints and Coatings
Tapes and Labels
Others

Company Profiles

Eastman Chemical Company
EXXON MOBIL CORPORATION
Kolon Industries Inc.
Shandong Landun Petroleum Resin Co., Ltd.
Puyang Tiancheng Chemical Co., Ltd.
Shanghai Jinsen Hydrocarbon Resins Co., Ltd
Lesco Chemical Limited
Henan Anglxxon Chemical Co., Ltd.
Arakawa Chemical Industries, Ltd.
RESIN CHEMICALS CO., LTD
Neville Chemical Company

Frequently Asked Questions

Which region held the fastest CAGR in the global hydrocarbon resins market?

Asia Pacific is estimated to register the fastest CAGR in the global hydrocarbon resins market over the forecast period. The building & construction industry, primarily in China and India, is a strong contributor to the market's growth. Furthermore, the market players are highly focused on developing high-quality and innovative products to fulfill the end users' requirements through expansion, and other strategies.

Based on application, which segment is the fastest growing segment in the global hydrocarbon resins market?

The rubber compounding segment is the fastest growing segment in the global hydrocarbon resins market during the forecasted period. Hydrocarbon resins are used in the rubber industry to optimize the rolling resistance and traction of tires. In rubber formulations, hydrocarbon resins are used to improve tack.

Based on application, which segment is leading the global hydrocarbon resins market during the forecast period?

The adhesives and sealants segment held the largest share of the hydrocarbon resins market in 2021. Hydrocarbon resins are an important ingredient in the formulation of adhesives and sealants. Hydrocarbon resins are good tackifiers and are used in adhesives.

Based on type, which segment is leading the global hydrocarbon resins market during the forecast period?

The C5 petroleum resins segment held the largest share of the global hydrocarbon resins market in 2021. C5 petroleum resins are used in applications such as asphalt modification, roofing, road paving, and modified wax compounds. Additionally, they are used in pressure-sensitive adhesives, tapes & labels, hot melt adhesives for nonwoven products, etc.

Which region held the largest share of the global hydrocarbon resins market?

In 2021, Asia Pacific held the largest share of the global hydrocarbon resins market. Various countries from the region are witnessing a surge due to growth in urbanization and the robust growth of the automotive and construction sectors, which offers ample opportunities for key market players in the hydrocarbon resins market.

Can you list some of the major players operating in the global hydrocarbon resins market?

The major players operating in the global hydrocarbon resins market are Eastman Chemical Company; EXXON MOBIL CORPORATION; Kolon Industries Inc.; Shandong Landun Petroleum Resin Co., Ltd.; Puyang Tiancheng Chemical Co., Ltd.; Shanghai Jinsen Hydrocarbon Resins Co., Ltd; Lesco Chemical Limited; Henan Anglxxon Chemical Co.,Ltd.; Arakawa Chemical Industries,Ltd.; RESIN CHEMICALS CO., LTD; Neville Chemical Company; among others.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Hydrocarbon Resins Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Hydrocarbon Resins Market Report Snapshots

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