Petroleum Resin Market Size, Segments, and Growth by 2031

MARKET INTRODUCTION

Petroleum resins are aromatic hydrocarbon resins and a byproduct of petroleum cracking. Petroleum resin is of different types such as aliphatic C5 resins, aromatic C9 resins, hydrogenated hydrocarbon resins, C5/C9 resins. C5 resin is produced by cracking of aliphatic crackers like piperylene and isoprene and c9 resin is formed by the aromatic crackers like vinyltoluenes, indene, alpha methylstyrene, etc. These petroleum resins are used as tackifiers, performance modifiers and homogenizing agents. Petroleum resins provide improved tensile strength, enhance fatigue resistance, fillers and wetting of the filler surface, retardation of cut growth by the dissipation of stress at the crack tip, etc. Applications such as adhesives and sealants, paints and coatings, printing inks, rubber, etc. have extensive usage of petroleum resins.

MARKET DYNAMICS

Increasing demand for the petroleum resins for automotive and construction industry will drive the growth of the demand for petroleum resin market. Furthermore, the growing demand for hydrogenated hydrocarbon petroleum resins will further propel the growth of the petroleum resin market. Predominantly, changing raw material prices may hamper the petroleum resin market. However, increasing demand for the low VOC and eco-friendly resin will create the opportunity for the petroleum resin market.

MARKET SCOPE

The "Petroleum Resin Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the petroleum resin market with detailed market segmentation by type, application, end-user industry and region. The petroleum resin market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading petroleum resin market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The petroleum resin market is segmented on the basis of type, application, end user industry. On the basis of type, the petroleum resin market is segmented into, aliphatic C5 resins, aromatic C9 resins, hydrogenated hydrocarbon resins, C5/C9 resins. On the basis of application, the petroleum resin market is segmented into, adhesive & sealants, paints & coatings, printing inks, rubber compounding, tapes & labels, others. On the basis of end-user industry, the petroleum resin market is segmented into, building & construction, tire industry, automotive, personal hygiene, consumer goods, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the petroleum resin market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The petroleum resin market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the petroleum resin market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the petroleum resin market in these regions.

MARKET PLAYERS

The reports cover key developments in the petroleum resin market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Thermal spray coatingsmarket are anticipated to lucrative growth opportunities in the future with the rising demand for petroleum resin in the global market. Below mentioned is the list of few companies engaged in the petroleum resin market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the petroleum resin market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last 3 years, the key development in the past five years.

• Anglxxon Chemical Co., Ltd
• Arakawa Chemical Industries Limited
• Eastman Chemical Company
• Exxon Mobil Corporation
• Innova (Tianjin) Chemical Co., Limited
• Kolon Industries, Inc.
• Lesco Chemical Limited
• Neville Chemical Company
• Total Cray Valley
• Zeon Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Petroleum Resin Report Scope