Petroleum Resin Market Share - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2030
Market Highlights
The Global Petroleum Resin Market was
valued at USD 2,956.0 Million in 2018 and is projected to
reach USD 4,626.7 Million by the end of 2025, at a CAGR of
6.65% during the forecast period. The petroleum resins are derived from
the by-product of naphtha cracker, a pyrolysis gas, which contains C5 to C9
hydrocarbons stream, that are further distilled to get separate C5 fraction and
C9 fractions, and then polymerized to produce petroleum resin.
Segmental Analysis
According to MRFR analysis, the global petroleum
resin market has been segmented based on type, form, application, end-use
industry, and region.
By type, the Global Petroleum Resins Market has been
segmented into C5 resins, C9 resins, dicyclopentadiene (DCPD), hydrogenated
petroleum resins, and C5/C9 resins. The C5 resin segment dominated the global
market with the largest share of 35.59% in 2018 and is expected to
grow at the fastest rate during the forecast period. This is largely attributed
to its aliphatic nature which makes it highly compatible with natural and
synthetic rubber such as polyethylene, butyl rubber, amorphous polyolefins,
styrene-isoprene-styrene (SIS) block copolymers, styrene-ethylene
butylene-styrene (SEBS) block copolymers; hot melt adhesives, and paints &
coatings, among others.
Based on form, the global petroleum resins market
has been categorized into true and masterbatch. The true form of petroleum
resins is predominantly used across various end-use industries and is expected
to register a CAGR of 6.74% during the forecast period.
On the basis of application, the global Petroleum Resins Market Share has been divided
into adhesives, paints & coatings, printing inks, rubbers, plastic films,
and others. The adhesives segment dominated with the largest market share
in 2018. The segment was valued at USD 1,206.0 million in
2018 and is estimated to exhibit the highest CAGR during the forecast
period.
By end-use industry, the global petroleum resins
market has been categorized into construction, automotive, packaging, personal
hygiene, and others. The construction industry is estimated to be the
fastest-growing segment during the review period. Petroleum resin in the form
of coatings are used in industrial roofing, and horizontal masonry, among
others. Also, C5 resin is mainly used as a binder for hot-melt road-marking
materials, which is used for road construction projects.
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Regional Analysis
Geographically, the global petroleum resin market
share has been divided into North America, Latin America, the Middle East &
Africa, Asia-Pacific, and Europe. As per the analysis of MRFR, the Asia Pacific
market was the dominant regional market, accounting for the leading market
share of over 45% in 2018 and is expected to register highest CAGR
during the forecast period. Asia-Pacific follows Europe, which accounted for
the second-largest share of the global petroleum resin market in 2018.
Leading Players
Market Research Future (MRFR) identifies the
following companies as the Key Players in the Global Carbon Nanotubes
Market: Eastman Chemical Company (US), Exxon Mobil Corporation (US),
Neville Chemical Company (US), Total Cray Valley (France), Kolon Industries Inc
(South Korea), Arakawa Chemical Industries, Ltd (Japan), ZEON CORPORATION
(Japan), Sojitz Corporation (Japan), QINGDAO HIGREE CHEMICAL CO., LTD (China),
Puyang Tiancheng Chemical Co., Ltd (China), Qingdao Reehua Yuanhai Biotech Co.,
Ltd (China), Puyang United Chemical Co., Ltd (China), and LESCO CHEMICAL
LIMITED (China).
Key Findings of the Study:
- The Global Petroleum Resin Marketreached USD
2,956.0 Million in 2018 and is projected to
reach USD 4,626.7 Million by the end of 2025, at
a CAGR of 6.65% during the forecast period.
- Based on type, the C5 resin segment held the
largest share of 59% in 2018and was valued at USD
1,170.3 million.
- Based on form, the true segment held the largest
market share by value and volume in 2018. The
segment is expected to record a CAGR of 6.74%.
- By application, the adhesives segment accounted for
the largest market share of 8% in 2018and was valued
at USD 1,206.0 million in 2018.
- On the basis of end-use industry, the electricals
& electronics segment is likely to register 22%
CAGR during the forecast period.
- Asia-Pacific accounted for the largest market share
in 2018 due to the rapid industrial growth
in the region. The region is expected to reach USD
2,260.4 million by the end of 2025.
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