Press release
Petroleum Resins Market Size, Share, Growth and Trends, Report 2024-2031
Petroleum Resins Market || 2024-2031
Petroleum resins are a type of thermoplastic hydrocarbon resin produced from C5 and C9 fractions, which are byproducts of petroleum cracking, followed by preheating and distillation. These polymers have a low molecular weight and are known for their resistance to water, ethanol, and chemicals. Typically, petroleum resins are used in combination with other resins as promoters, modifiers, or adjusting agents to enhance their properties.
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Market Dynamics:
Growth in the Automotive and Construction Sectors
The primary driving factor for the Petroleum Resins market is the growth of the automotive industry. Petroleum resins are widely used in the manufacturing of automotive paints and rubber components, such as tires. As the demand for vehicles rises, the demand for petroleum resins increases correspondingly. For example, global passenger car sales grew from 69.5 million units in 2016 to 70.8 million units in 2017, fueling the need for petroleum resins in automotive production.
Additionally, the construction industry's expansion contributes significantly to the growth of the petroleum resins market. These resins are essential in the production of paints used for building design. As the global population grows, the demand for new buildings rises, further boosting the market. However, the increasing adoption of eco-friendly resins, which contain lower levels of volatile organic compounds (VOCs), presents a potential restraint as these alternatives gain preference over traditional petroleum-based products.
Segment Covered in the Petroleum Resins Market:
By Type of Process: Aromatic Petroleum Resins, Aliphatic Petroleum Resins, Dicyclopentadiene Petroleum Resins, Mixed Petroleum Resins.
By Applications: Paints, Adhesives, Rubbers, Inks, Paper industry.
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Key players involved in Petroleum Resins Market:
• ExxonMobil
• BASF
• Eastman
• Ruetgers Novares
• Neville
• Cray-valley
• Puyang Changyu Petroleum Resins
• Bitoner Resins
• Qingdao Higree chemical Co. Ltd
• Innova Chemical Co Ltd
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Maleic Anhydride Market: https://www.datamintelligence.com/research-report/maleic-anhydride-market
Naphthalene Market: https://www.datamintelligence.com/research-report/naphthalene-market
Lubricants Market: https://www.datamintelligence.com/research-report/lubricants-market
Regional Analysis:
The Petroleum Resins Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Petroleum Resins Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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