Petroleum Resin Market Segments and Insights | Size, Share, Current Development Trends, Analysis Of Top Key Players and Forecast 2021 to 2027 | ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu

Report Ocean releases its latest report on the global Petroleum Resin Market. Petroleum resin, produced from the by-products of cracking processes, is likely to witness a growth in the market during the forecast timeframe due to a rise in the demand for adhesives, paints and coatings, printing inks, and personal hygiene products. Furthermore, the rapidly urbanizing population in Asia pacific region will fuel the growth of the petroleum resin market. 

Global Petroleum Resin Market Overview:

Petroleum Resins are by-products of the cracking process and are also known as “Hydrocarbon Resins.” Hydrocarbon Resins (HCR) are synthetic resins, produced by polymerization and various chemical processes. Aliphatic (C5), Aromatic (C9), DCPD (Dicyclopentadiene) hydrocarbons are often used as feedstock for HCR. The mixture of these hydrocarbons is also used as a feedstock to produce hydrocarbon resins. Petroleum resins are known for their improved flow, enhanced water, and heat resistivity. Petroleum resins have several areas of application, such as Paints and coatings, adhesives, tapes and labels, packaging materials, etc. Adhesives, and hot melt adhesives are emerging as the biggest market for petroleum hydrocarbon resins.

The global petroleum resin market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 3.2 billion in 2020. The market is further expected to touch USD  billion by 2027, growing at a CAGR of almost 7% during 2021-2027.

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Growth Drivers 

Increasing urban population in Asia-Pacific region 

The rise in the urban population in the Asia-Pacific region is one of the major drivers for the growth of the petroleum resin market. According to the Total and Urban Population Data of UNCTAD by the United Nations, 49% population of Asia-Pacific is still living in rural areas. Because Asia has 2 of the world’s most populated countries, the number of people living in rural areas is huge and in upcoming years the rate of urbanization is only going to go up. The demand for adhesives and sealants, paints and coating, tapes and labels is rapidly growing in the Asia-pacific region owing to the rapid rise in construction work, increasing investment in the automotive sector, and rise in Industrialization. Increased construction work, the rapidly growing packaging industry and constantly improving lifestyles are some of the drivers, helping the petroleum resin market grow. 

Excellent adhesion properties at high temperature

Petroleum resin has excellent adhesion and is highly stable even at high temperatures. This, along with their anti-aging properties, fluidity, low volatility and minimized odor, and good resistivity towards the water, contribute towards their rapidly growing demand in the end-user industry. Paints and coating are where petroleum resins are used extensively due to their excellent adhesive properties. In paints and coatings, petroleum resins provide enhanced pigment wetting, gloss, adhesion, and film hardness. Along with this, they also improve the flow and provide water resistance. 

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Petroleum Resin Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Petroleum Resin Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Petroleum Resin Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Petroleum Resin Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Petroleum Resin Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Petroleum Resin Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Petroleum Resin Market provides insight into the factors influencing its growth. This market study breaks down the Petroleum Resin Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Petroleum Resin Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Petroleum Resin Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Petroleum Resin Market are:

Brasken, Cymetech (Owned by Sojitz), Reliance Industries, Henghe Petrochemical Co., Ltd, Shandong ShenxianRuisen Petroleum Resins Co., Ltd, Cepsa, Mitsui Chemicals, Ineos Phenol, ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu, Puyang Changyu Petroleum Resins, Lesco, Kolon Hydrocarbon, PuyangTiancheng Chemical Co.,Ltd. Arakawa Chemical Industries, Eastman Chemical Company, BASF, Dow Chemicals, 

Scope of the Report

The global Petroleum Resin Market segmentation focuses on:

By Types

Ø  Aliphatic C5 Resins

Ø  Aromatic C9 Resins

Ø  Dicyclopentadiene (DCPD)

Ø  Hydrogenated hydrocarbon Resins (HHCR)

Ø  C5/C9 Resins

By End Use Industry

Ø  Adhesive and sealants

Ø  Pressure Sensitive Adhesives (PSA)

Ø  Holt Melt Adhesives (HMA)

Ø  Paints and Coatings

Ø  Printing Inks

Ø  Rubber Compounding

Ø  Tapes and Labels

Ø  Others

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