Petroleum Resins Market Size Expansion to Drive Significant Revenues in the Future

Petroleum resins, also known as hydrocarbon resins or petrochemical resins, are synthetic resins derived from petroleum-based materials.

WILMINGTON, DE, UNITED STATES, February 7, 2025 /EINPresswire.com/ -- Allied Market Research recently published a report titled, "Petroleum Resins Market by Resin (C5 Resins, C9 Resins, Hydrogenated Hydrocarbon Resins, C5/C9 Resins, Dicyclopentadiene (DCPD) Resin), by Application (Adhesives and Sealants, Printing Inks, Paints and Coatings, Rubber Compounding, Others), by End-Use Industry (Building and Construction, Tire Industry, Personal Hygiene, Automotive, Others) – Global Opportunity Analysis and Industry Forecast, 2023-2028."

According to the report, the petroleum resins market was valued at $2.5 billion in 2018 and is projected to reach $4.0 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/17837

What Are Petroleum Resins?

- Petroleum resins, also known as hydrocarbon resins or petrochemical resins, are synthetic resins derived from petroleum-based materials. These resins are manufactured by polymerizing petroleum by-products, such as C5, C9, and dicyclopentadiene (DCPD), and are widely used in various industries, including adhesives, coatings, and rubber compounding.

Key Market Drivers

- Growing Demand from the Construction Industry: Increased use of petroleum resins in adhesives and sealants for construction applications.

- Rise in Personal Hygiene Awareness: Expanding use of petroleum resins in hygiene products such as baby diapers and sanitary napkins.

- Increased Demand for Hydrogenated Hydrocarbon Resins: Growing adoption in the food packaging industry due to its stability and performance.

Challenges & Opportunities

- Challenges: Fluctuating raw material prices may restrain market growth.

- Opportunities: Expanding applications in protective coatings, road asphalts, and adhesive & sealant sectors, particularly in packaging.

Market Segmentation & Insights

By Resin Type:

- C5 Resins: Dominated the market in 2018, holding over 50% market share, and is projected to maintain leadership through 2028.

- Hydrogenated Hydrocarbon Resins: Expected to exhibit the highest CAGR of 5.4% from 2023 to 2028.

By Application:

- Adhesives and Sealants: Largest segment in 2018, driven by construction and packaging demands.

- Paints and Coatings: Projected to grow at the highest CAGR of 5.5% during the forecast period due to enhanced gloss, stability, and chemical resistance properties.

By End-Use Industry:

- Building and Construction: Largest segment, accounting for nearly one-fourth of market revenue in 2018.

- Personal Hygiene: Expected to grow at the highest CAGR of 5.7% due to increasing healthcare expenditure and rising disposable income.

By Region:

- Asia-Pacific: Held the highest market share in 2018 (over 50%) and is expected to continue leading, with a projected CAGR of 5.4% from 2023 to 2028.

Key Market Players

- Arakawa Chemical Industries

- Exxon Mobil Corporation

- Henan Anglxxon Chemical Co. Ltd.

- Innova (Tianjin) Chemical Co. Ltd

- Kolon Industries, Inc.

- Lesco Chemical Limited

- Neville Chemical Company

- Puyang Tiancheng Chemical Co. Ltd.

- Ruisen Resin Co. Ltd.

- Synthomer Plc

Conclusion

The petroleum resins market is set for steady growth, driven by increasing demand in construction, adhesives, packaging, and personal hygiene industries. Despite raw material price fluctuations posing challenges, opportunities in high-performance applications across automotive, aerospace, and road infrastructure present promising prospects. Asia-Pacific remains the key growth hub, with industrialization and urbanization fueling demand for petroleum resins.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞:
https://www.alliedmarketresearch.com/petroleum-resins-market/purchase-options

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