Petroleum Resin Market Trends - Global Industry Analysis, Size, Share, Growth, and Forecast 2022 - 2030
Market Highlights
The Global Petroleum Resin Market Trends 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 Trends 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 Trends 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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