LONDON--(BUSINESS WIRE)--The petroleum resins market is expected to grow by USD 926.28 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the petroleum resins market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The petroleum resins market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2020 as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Petroleum Resins Market Participants:
Arakawa Chemical Industries Co. Ltd.
Arakawa Chemical Industries Co. Ltd. operates its business through segments such as Paper Chemicals, Coating Chemicals, Adhesive Materials, Functional Materials, and Others. The company offers Hydrogenated Petroleum resin with colorless, transparent, heat-resistant, and weather-resistant properties.
Eastman Chemical Co.
Eastman Chemical Co. operates its business through segments such as Additives & Functional Products, Advanced Materials, Chemical Intermediates, and Fibers. The company offers a line of Hydrocarbon resins such as C5-Aliphatic Resins, C9-Aromatic Resins, and C5 or C9-Aliphatic or Aromatic Resins among others.
Exxon Mobil Corp.
Exxon Mobil Corp. operates its business through segments such as Upstream, Downstream, and Chemical. The company offers Escorez tackifiers, the amorphous, glassy, low-molecular-weight hydrocarbon polymers.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/petroleum-resins-market-industry-analysis
Petroleum Resins Market 2020-2024: Segmentation
Petroleum resins market is segmented as below:
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End-user
- Building And Construction
- Tire
- Automotive
- Consumer Goods
- Others
-
Geography
- APAC
- North America
- Europe
- MEA
- South America
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Type
- C5
- Hydrogenated Hydrocarbon
- C9
- C5/C9
-
Application
- Adhesives And Sealants
- Paints And Coatings
- Rubber Compounding
- Printing Inks
-
Others
The petroleum resins market is driven by an increase in demand from the building and construction industry. In addition, other factors such as high demand from the automotive industry are expected to trigger the petroleum resins market toward witnessing a CAGR of almost 8% during the forecast period.
Get more insights about the global trends impacting the future of the petroleum resins market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45653
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Market Drivers
Market Challenges
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Vendor Landscape
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- Vendor classification
- Market positioning of vendors
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