Petroleum Resins Market 2018 to 2023: Top Global Competitors Insight - BASF SE, Eastman Chemical Company, Exxon Mobil Corporation, Idemitsu Kosan Co. Ltd., Arakawa Chemical Industries Ltd., Puyang Changyu Petroleum resins Co. Ltd., Kolon Industries, Inc.,

Market Overview:

Petroleum Resins are low-density materials which are manufactured by polymerization of alkenes, alkynes and aromatic compounds obtained from the distillation of heavy hydrocarbon feedstock. These resins are capable of producing tackifying effect which makes them applicable in various applications such as adhesives, Paints & coatings and printing inks. Excellent thermal stability, softening point and heat resistance are the major trends and factors promoting the market confidently. Owing to these factors, they are used in various end-use industries such as construction, automotive, packaging, personal hygiene, and others.

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The Global Petroleum Resins Market is bifurcated into resin type, application and end-use. The market by resin type is further divided into C5, C9, hydrogenated hydrocarbon, and C5/C9. Among these, the C5 resin segment holds a major portion of the market on account of its growing use in construction, automotive, personal hygiene, and others. The prominent factor behind the consumption of this resin in these applications is its excellent flexibility and bonding strength. The C5/C9 resin segment is set to grow at a rapid rate due to its increasing consumption in rubber and tires application as it provides superior mechanical resistance and bonding. Moreover, the hydrogenated hydrocarbon is predicted to witness the highest CAGR in the market due to unique features offered by the product such as high adhesion strength, zero toxicity and chemical resistance.

Intended Audience:

• Petroleum Resins Market Manufacturers
• Traders and Distributors of Petroleum Resins Market
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

Competitive Landscape:

The competitive market of Petroleum Resin appears fragmented with the matured & small key players along with the new entrants forming a competitive landscape. Through the acquisition, strategic partnership, expansion, product/technology launch & collaboration, these players try to gain competitive advantage. Substantial investments are transpired in the R&D to develop an entirely different technology compared to their competition.

Segmentation:
The Global Petroleum Resins Market is segmented into resin type, application and end-use.

On the basis of resin type, the market is further categorized into C5, C9, hydrogenated hydrocarbon, and C5/C9. Among these, the C5 segment holds a majority of the market share due to extraordinary features offered by the product such as tackifying effect, chemical resistance, and others. The C5/C9 segment is projected to witness a rapid growth due to its growing consumption in heavy end use industries. Additionally, the hydrogenated hydrocarbon resin is set to grow at the highest rate due to eco-friendly and reliable nature offered by the product.

The market by application is further categorized into adhesives, paints & coatings, printing inks. Among these, the paints & coatings segment is accounted for major share in the market due to the ability of resins to improve the final finishing, alkali resistance and adhesiveness of the product. The adhesives segment is estimated to witness a higher growth in the market owing to the growing consumption of C9 resins in the product to add extraordinary features such as color spreading, fast dry, and brightening effects.

On the basis of end-use, the market is further classified into construction, automotive, packaging, personal hygiene.

Regional Analysis:

Geographically, Asia Pacific holds a major share of the market due to the growing demand for resins in construction, automotive, packaging, and others. The “Make in India” scheme which was implemented by the Indian Government has fuelled the major industries to witness a significant growth. The C5 resin segment is predicted to witness a rapid growth in the market, due to its boundless consumption in end use industries. Owing to these factors, countries such as China, Japan and India are the major players in the market.

The North American region is growing significantly in the market due to the increasing demand for hydrocarbon resins in construction, packaging and automobile sectors. It is predicted that the high disposable income and rising investments in the end-use industries is set to drive the market demand during the forecast period. The growing demand of aromatic compounds in personal care and tire industries has propelled countries such as the U.S., Canada and Mexico to achieve a stunning growth in the market.

European market has also observed a remarkable growth in the market due to growing consumption of hydrocarbon resins in automotive, aviation, construction, energy and marine industries. It is estimated that the growing innovation and technological advancement has propelled the countries such as the U.K., Italy, Germany and France to observe a notable growth in the market during the forecast period.

Global Key Players:

Eastman Chemical Company (US), Exxon Mobil Corporation (US), Idemitsu Kosan Co. Ltd. (Japan), Arakawa Chemical Industries, Ltd. (Japan), Puyang Changyu Petroleum resins Co. Ltd. (China), Kolon Industries, Inc. (South Korea), The Dow Chemical Company (US), BASF SE (Germany), Neville Chemical Company (US), and Cray Valley (France).

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