Terpene Resins Market worth $1,450 million by 2027 | Key players Kraton Corporation (US), Baolin Chemical Industry Co. Ltd (China), Lesco Chemical Company (China).

According to recent market research the "Terpene Resins Market by product type (Solid, Liquid), grade (Industrial, Technical), application (Inks & coatings, adhesives & sealants, chewing gums pulp & paper, plastic & rubber, leather processing), and Region- Global Forecast to 2027", size is projected to reach USD 1,450 million by 2027 from USD 991 million in 2022, at a CAGR of 7.9% during the forecast period. Increasing adoption of terpene resins by various applications due to its excellent properties, such as good adhesion, non-toxicity, high chemical resistance, better moisture resistance, superior mechanical properties, good fatigue resistance, low shrinkage, and strong durability is driving the market for terpene resins. Increasing demand for terpene resins from adhesives & sealants and plastic & rubber applications also supports the growth of the terpene resins market. Further, high demand for bio-based resins is expected to provide the growth opportunities to the Terpene resins manufacturers, especially in Asia Pacific and the Middle East & Africa regions.

Browse 125 market data Tables and 39 Figures spread through 168 Pages and in-depth TOC on "Terpene Resins Market - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/terpene-resins-market-258854428.html

Solid type covers the largest market of terpene resins. Solid terpene resin is easier to handle, store, and transport than liquid terpene resins. It also finds wide variety of applications in tires & rubbers as a superior elastomer, in adhesives & sealants as an excellent tackifying material for hot-melt adhesive as well as pressure-sensitive labels for various end-use industries, such as in packaging, nonwovens, bookbinding, construction/assembly, tapes and labels, and graphics.

Industrial grade terpene resins are used as adhesives in various industries, such as paper and packaging, wood products, and construction. Terpene resins are made from renewable resources, such as pine and other tree species, making them a more sustainable alternative to petroleum-based resins. They are also non-toxic and have a low Odor, making them suitable for use in food and medical applications as well. Wide application range of industrial grade terpene resins lead its market share in the terpene resins market.

Based on application, pulp & paper segment is expected to grow at the highest rate during the forecast period in the Terpene resins market. Terpene resins are in high demand in the pulp & paper industry due to its superior and unique properties such as good adhesion, excellent heat resistance, good chemical resistance, and low toxicity. There properties make terpene resins suitable for use as adhesives and binders in the production of paper products, including packaging materials and paperboards, thereby creating higher demand during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258854428

Asia Pacific is expected to grow at the fastest rate in the terpene resins market during the forecast period. Presence of various manufacturing industries in the countries such as China and Japan, increasing demand for paper & packaging products, growing consumer good industry, and favorable government policies and regulations, are some of the factors expected to drive the market demand in the region.

The key players in the Terpene resins market include Mangalam Organics Limited (India), Yasuhara Chemical Co. Ltd (Japan), Ingevity (US), Kraton Corporation (US), Baolin Chemical Industry Co. Ltd (China), Lesco Chemical Company (China), Arakawa Chemicals (Japan), Xinyi Sonyuan Chemical Co. Ltd (Japan).

Request Sample Pages @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=258854428

Ingevity is a global company engaged in the manufacturing of chemicals, carbon materials, and providing enhanced technologies to its customers. The company operates in two reportable business segments, namely, Performance Materials, and Performance Chemicals. It produces terpene resin under the performance chemicals segment. The company mainly provides its products for demanding applications, such as adhesives, lubricants, publication inks, coatings, elastomers, and bioplastics. Ingevity has a global presence with operations in more than 25 countries. The company has a total of nine manufacturing sites, seven technical centers, and nine administrative offices worldwide. It has an employee strength of nearly 1,850.

Arakawa Chemicals is a leading manufacturer and marketer of specialty chemicals for functional coating agents, paper manufacturing, resins for printing inks, and resins for adhesives. It was established in 1876 and is headquartered in Osaka, Japan. The company operates in four reportable business segments, namely, functional coating chemicals, paper chemicals & environmental business, adhesive & biomass materials, and electronic business. It produces terpene resin under the adhesive & biomass material division. The company mainly offers a wide range of product portfolios, including maleic resin, alkyd resin, polyester resin, hydrogenated hydrocarbon resin, and terpene phenolic resin, for various end-use applications, such as adhesives, lubricants, publication inks, coatings, elastomers, and bioplastics.

Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=258854428

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/terpene-resins.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/terpene-resins-market.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.