Petroleum Resin Market worth 2.58 Billion USD by 2021


Posted October 18, 2019 by abhijeetw1

The global petroleum resins market is estimated to reach USD 2.58 Billion by 2021, at a CAGR of 7.7%.

 
The report "Petroleum Resin Market by Type (C5, C9, Hydrogenated Hydrocarbon Resins and C5/C9 Resins), Application (Adhesive & Sealants, Printing Inks, Paints & Coatings), End-Use Industry (Building & Construction, Tire) and by Region - Global Forecast to 2021", The petroleum resin market size is estimated to grow from USD 1.78 Billion in 2016 to USD 2.58 Billion by 2021, at a CAGR of 7.7%.

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Petroleum resins are manufactured from various fractions of naphtha such as C5, C9, and DCPD. The raw materials available in the market are supplied by major companies such as BASF SE (Germany) and The DOW Chemical Company (U.S.) to the petroleum resins manufacturers such as Eastman Chemical Company (U.S.), ExxonMobil Corporation (U.S.), Total CrayValley (U.S.), and Kolon Industries (South Korea).

On the basis of Application:

Adhesives & Sealants
Printing Inks
Paints & Coatings
Rubber Compounding
Tapes & Labels
Others
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Asia-Pacific: The largest market of petroleum resins

Asia-Pacific is currently the largest market for petroleum resins. China is the largest consumer of petroleum resins in this region.

The following are the favourable forces driving the market for petroleum resins in Asia-Pacific:

Major manufacturers of petroleum resins in the region
Growing commercial & industrial construction in the region
Increasing investment in automobile sector
C5 petroleum resins: The largest type segment of petroleum resin market

Petroleum resins are categorized into four major types by such as C5 petroleum resins, C9 petroleum resins, hydrogenated hydrocarbon resins, and C5/C9 petroleum resins. These are the widely used types of petroleum resins. In 2015, C5 petroleum resins accounted for the largest market share in terms of both value and volume due to easy availability and cost-effective nature.
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Issued By MNM
Country United States
Categories Business
Tags petroleum resins , petroleum resins market
Last Updated October 18, 2019