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Hydrocarbon Resins Market to Witness Huge Growth by Premium Market Insights
The Hydrocarbon Resins Market was valued at US$ 1,921.30 million in 2021 and is projected to reach US$ 2,730.83 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.Hydrocarbon resins are made from petroleum-based feedstock. They are highly versatile products used in various applications, including adhesives and sealants, printing inks, rubber compounding, paints and coatings, and tapes and labels. Hydrocarbon resins have good adhesion. Hydrocarbon resins are used in rubber formulations to improve tack.
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Analysis of the Top Market Players:
1. Eastman Chemical Company
2. EXXON MOBIL CORPORATION
3. Kolon Industries Inc.
4. Shandong Landun Petroleum Resin Co., Ltd.
5. Puyang Tiancheng Chemical Co., Ltd.
6. Shanghai Jinsen Hydrocarbon Resins Co., Ltd
7. Lesco Chemical Limited
8. Henan Anglxxon Chemical Co.,Ltd.
9. Arakawa Chemical Industries,Ltd.
10. RESIN CHEMICALS CO., LTD
In this report, the market has been segmented on the basis of:
Type (C5 Petroleum Resins, C9 Petroleum Resins, C5/C9 Petroleum Resins, and Others)
Application (Adhesives and Sealants, Printing Inks, Rubber Compounding, Paints and Coatings, Tapes and Labels, and Others)
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Based on application, the global hydrocarbon resins market has been segmented into adhesives and sealants, printing inks, rubber compounding, paints and coatings, tapes and labels, and others. The adhesives and sealants segment held the largest share of the global hydrocarbon resins market in 2020. The use of hydrocarbon resin in adhesives improves adhesive strength, water resistance, acid resistance, and alkali resistance. Hydrocarbon resin is mainly used as a tackifier in adhesives, particularly in hot melts. The growing demand for adhesives in construction and other applications will offer more growth opportunities for the market.
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