Petroleum resins are obtained from cracking of heavy carbon feedstock. It has properties such as solubility, softening points, thermal stability, and chemical stability. Increasing demand of petroleum resins in footwear, leather, contact adhesives, hot melt adhesives, fragrance fixatives, plastic and rubber modification, wax modification, pharmaceutical adhesives, and other applications is propelling growth of global petroleum market. Volatile cost of raw material such as crude oil is one of the major restraint to growth of the petroleum resins market.
Market Dynamics
Asia Pacific accounted for the largest share in the petroleum resins market in 2021, followed by North America and Europe. Asia Pacific accounted for 38.39% market share in 2021. Growth in construction and automobile industry is driving growth of the petroleum market in this region. For instance, according to the International Trade Association, Department of Commerce, the automobile output in China is expected to reach 30 million units by 2020 and 35 million by 2030. Automotive sector is the largest end user of petroleum resins. This is owing to its properties such as compatibility with ethylene-vinyl acetate, styrene-butadiene-styrene and others for application in the automobiles.
Key features of the study:
- This report provides in-depth analysis of petroleum resins market, market size (US$ Million & Kilotons), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022–2030), considering 2021 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
- It profiles leading players in the global petroleum resins market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Arakawa Chemical Industries, Eastman Chemical Company, Exxon Mobil Corporation, Ltd., Kolon Industries, Inc., Lesco Chemical Limited, Zeon Corporation, Seacon Corporation, Neville Chemical Company, Total Cray Valley, and Anglxxon Chemical Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, market expansion, and marketing tactics
- The global petroleum resins market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the petroleum resins market
Detailed Segmentation:
- Global Petroleum Resins Market, By Product Type:
- Aliphatic C5 Resins
- Aromatic C9 Resins
- C5/C9 Resins
- Hydrogenated Hydrocarbon Resins
- Global Petroleum Resins Market, By Applications:
- Adhesive and Sealants
- Hot Melt Adhesives (HMA)
- Psa (Pressure Sensitive Adhesives)
- Paints & Coatings
- Rubber Compounding
- Printing Inks
- Tapes and Labels
- Others
- Global Petroleum Resins Market, By End-use Industry:
- Automotive
- Building & Construction
- Consumer Goods
- Personal Hygiene
- Tire Industry
- Others
- Global Petroleum Resins Market, By Geography:
- North America
- Europe
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- Northern Africa
- Central Africa
- South Africa
- Company Profiles
- Arakawa Chemical Industries *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Eastman Chemical Company
- Exxon Mobil Corporation, Ltd.
- Kolon Industries, Inc.
- Wigwam Corporation
- Lesco Chemical Limited
- Zeon CorporationSeacon Corporation
- Neville Chemical Company
- Total Cray Valley
- Anglxxon Chemical Co.
