Global Petroleum Resins Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

Technavio has published a new report on the global petroleum resins market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global petroleum resins market is projected to grow to USD 2,450.2 million by 2021, at a CAGR of more than 7% over the forecast period.

This research report titled ‘Global Petroleum Resins Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

 
Petroleum resins are amorphous polymers with low molecular weight obtained from synthetic processes and are commonly used to improve the adhesion and cohesion properties of larger polymers. The increase in demand for petroleum resins from the building and construction industry is expected to drive the growth of the global market.
 

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Based on resin type, the report categorizes the global petroleum resins market into the following segments:

  • C5 resins
  • Hydrogenated hydrocarbon resins
  • C9 resins
  • C5/C9 resins

The top three revenue-generating resin segments in the global petroleum resins market are discussed below:

C5 resins

C5 resins are made from petroleum-based aliphatic feedstock and are commonly used in adhesives, coatings, road marking, tires, rubber, and paints and coatings due to its excellent tack and cohesive properties,” says Ajay Adikari, a lead analyst at Technavio for plastics, polymers, and elastomers research.

C5 resins occupied a majority 53% of the global petroleum resins market in 2016 and is expected to continue its market dominance through the forecast period. The growth in the market segment is expected to be due to their wide-spread use in the end-user industries such as building and construction, automotive, and personal care.

Hydrogenated hydrocarbon resins

The global petroleum resins market by hydrogenated hydrocarbon resins is expected to be the fastest-growing regional segment, growing at a CAGR of over 8% through 2021. Hydrogenated hydrocarbon resins are manufactured by the controlled hydrogenation of basic monomer of aliphatic and aromatic resins. Partial and selective hydrogenations are carried out to manufacture resins with better stability and compatibility. These resins are not skin sensitive, making them suitable for the manufacture of pharmaceutical adhesives, lipsticks, lip-care products, and fragrance fixatives.

C9 resins

C9 resins are made of nine-carbon aromatic monomers. C9 resins are aromatic molecules, and they endure little refining prior to the polymerization. They are used mainly in hot-melt adhesives, pressure-sensitive adhesives, printing inks, and paints and coatings,” says Ajay.

These resins come in different forms with varying softening points and molecular weight. The important characteristics of C9 petroleum resin include low acid value, good miscibility, chemical resistance against water, and chemical stability against alkali and acids.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Arakawa Chemical Industries
  • Eastman Chemical
  • ExxonMobil
  • Kolon Industries
  • Total Cray Valley

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global petroleum resins market is projected to grow to USD 2,450.2 million by 2021, at a CAGR of more than 7% over the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com