Petroleum Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Petroleum Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global petroleum resins market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2022-2028.

Petroleum resins are low molecular weighted thermoplastic hydrocarbons that are derived from cracked petroleum fractions. They are produced by polymerizing mixtures of unsaturated monomers such as olefins, diolefins, and aromatic vinyl compounds, which are the by-products of cracking natural gas liquids, gas oil, and petroleum naphtha. Petroleum resins can be found in the form of powder, flakes, solid blocs, solutions, beads, crushed nuggets, and dispersion. They find application in paints and varnishes, coatings, paper, adhesives, concrete-curing compounds, rubber, printing inks, and lithographic inks.

Petroleum Resins Market Trends:

The global petroleum resins market is primarily driven by their growing demand for manufacturing paints, sealants, personal hygiene products, tire, automotive, packaging tapes, and building and construction materials. Petroleum resins offer improved adhesive bond strength and resistance to acids, alkalis and water. In addition to this, they are also employed due to their exceptional thermal stability, peeling strength, tack ability, and high softening point. Governments worldwide are adopting stringent regulations regarding volatile organic compound (VOCs) emissions from vehicle coatings, which, in turn, is facilitating the demand for petroleum resins with low VOCs. In countries such as the United States, India, Germany, and China, governments are increasing their spending in the packaging sector, which is also propelling the market growth. They are also imposing policies and measures to augment the production of vehicles, which is increasing the demand for petroleum resins. Furthermore, the development of advanced process technologies to increase the output of resins is positively impacting the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global petroleum resins market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, application and end use.

Breakup by Product:

C5 Resins

C9 Resins

C5/C9 Resins

Hydrogenated Resins



Breakup by Application:

Paints

Adhesives

Printing Inks

Rubber and Tires

Tapes and Labels

Others



Breakup by End Use:

Automotive

Construction

Packaging

Consumer Goods

Personal Hygiene

Others



Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Arakawa Chemical Industries Ltd., Eastman Chemical Company, Exxon Mobil Corporation, Henan Anglxxon Chemical Products Co., Ltd., Idemitsu Kosan, KOLON Industries Inc., Lesco Chemical Limited, Neville Chemical Company, Puyang Changyu Petroleum Resins Co. Ltd., Seacon Corporation, TotalEnergies Group and Zeon Corporation.

Key Questions Answered in This Report:

How has the global petroleum resins market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global petroleum resins market?

What are the key regional markets?

What is the breakup of the market based on the product?

What is the breakup of the market based on the application?

What is the breakup of the market based on the end use?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global petroleum resins market and who are the key players?

What is the degree of competition in the industry?