Petroleum Resin Market Growth | Strategies to Boost Growth, Leading Players, Technology, New Business Development and Forecast
Market Highlights
The Global
Petroleum Resin Market growth 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 Growth 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 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 growth 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 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 Market reached 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 2018 and 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 2018 and 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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