The global petroleum resins market was valued at US$ 2,212.9 million in 2016 and is expected to reach US$ 4,468.1 million by 2025, witnessing a CAGR of 8.2% over the forecast period (2017–2025), according to a Petroleum Resins Market, by Product Type (Aliphatic C5 Resins, Aromatic C9 Resins, C5/C9 Resins, and Hydrogenated Hydrocarbon Resins), by Application (Adhesive and Sealants, Paints & Coatings, Rubber Compounding, Printing Inks, Tapes and Labels, and Others), and by End-use Industry (Automotive, Building & Construction, Consumer Goods, Tire Industry, Personal Hygiene, and Others) Petroleum resins are hydrocarbon resins derived from cracking of gas oil, petroleum naphtha or natural gas liquids. It is used in inks, coatings, varnishes, paints, plastics, paper, textiles, rubber, adhesives, and other applications. It is used as tackifying agents in hot melt adhesives and pressure melt adhesives, to stiffen paper in packaging industry and in floor covering along with base polymer such as polypropylene or polyethylene. Increasing applications of petroleum resins in paints, coatings, adhesives, sealants, printing inks, and tapes and labels is fuelling growth of petroleum resins market.
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