The global petroleum
resins market is expected to reach USD 4.1 billion by 2025,
growing at a CAGR of 6.9% from 2017 to 2025, according to a new report by Grand
View Research, Inc. The rising demand for petroleum resins in EVA-based
adhesives, contact adhesives for footwear, printing inks, sealants, paints,
specialty tapes, repositionable tapes, packaging tapes, and permanent labels is
expected to increase the market size.
Increasing demand for hydrocarbon resins in adhesives
owing to properties such as good adhesion, improved adhesive bond strength,
acid resistance, alkali resistance, and water resistance is expected to the
drive industry expansion over the forecast period.The development of various
petrochemical complex and catalytic polymerization to increase the output of
resins is likely to augment the market size over the next eight years.
Automotive was the prominent segment and accounted
23.9% of the overall revenue share in 2016. The segment is expected to register
substantial gains owing to the increasing production of passenger cars, light
commercial vehicles, and heavy commercial vehicles in countries such as India,
Thailand, and China.
Moreover, the Chinese auto sector policies and
measures such as Automotive Readjustment and Revitalization Plan, Energy-Saving
and New-Energy Auto Industry Plan, and Foreign Direct Investment opportunities
are augmenting vehicle production, which in turn is expected to propel the
market growth.
Browse full research report on Petroleum Resins Market: www.grandviewresearch.com/industry-analysis/petroleum-resins-market
Further
key findings from the report suggest:
- Hydrogenated petroleum resins is expected to register high volume
gains at a CAGR of 6.3% from 2017 to 2025. The rising consumption of the
products in EVA/ APAO-based hot melt adhesives and pressure sensitive
adhesives as they offer good heat stability, water resistance and
compatibility is expected to drive the industry growth.
- The printing ink segment was valued at USD 214.9 million in 2016
and is anticipated to witness high gains on account of the rising usage in
commercial printing, publications, packaging, and corrugated cardboards
applications
- Europe accounted for 23.4% of the overall volume share in 2016 and
is anticipated to witness steady growth due to the presence of major
automotive manufacturers including Audi, BMW, Mercedes Benz, Jaguar, Aston
Martin, Volkswagen, Volvo, Fiat, Ferrari, Lamborghini, and Porsche
- The global petroleum resins market showcases immense competition
with the presence of various large and small-scale participants in Japan,
the U.S., and China. Key players include Eastman Chemical Company;
ExxonMobil; Zeon Chemicals; Lesco Chemical Limited; Kolon; Neville; Puyang
Tiancheng Chemical Co., Ltd.; and The Dow Chemical Company.
- In December 2016, Saudi-based Rufayah Chemicals Company (RCC)
signed a deal with Sadara Chemical Company for setting up one of the
largest hydrocarbon resin plants with an investment of approximately USD
500 million in the PlasChem Park to produce hydrocarbon resin, pure DCPD,
isoprene, aromatic solvents, and premium wash oils
- Zeon Chemicals offers Quintac and Quintone manufactured by using
proprietary Isoprene and Piperylene technology having excellent tack,
cohesive strength, and holding power
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/bulk-chemicals
Grand
View Research has segmented the global petroleum resins market on the basis of
product, application, end use, and region:
Product
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- C5 resins
- C9 resins
- C5/C9 resins
- Hydrogenated
resins
Application
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Paints
- Adhesives
- Printing inks
- Rubber &
tires
- Tapes &
labels
- Others
End-use
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Automotive
- Construction
- Packaging
- Consumer
goods
- Personal
hygiene
- Others
Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Central &
South America
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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