Petroleum Resins Market Latest Innovations, Drivers and Industry Key Events 2030

Petroleum Resins Market Growth or Demand Increase or Decrease for what contains:

The Petroleum Resins Market is projected to reach USD 3.81 billion by 2030, growing at a CAGR of 7.7% during the forecast period. The market's growth is driven by increasing demand from end-user industries such as personal hygiene, automotive, printing inks, sealants, paints, specialty tapes, packaging tapes, and building & construction. The adoption of hydrocarbon resins in adhesives due to their properties like good adhesion, bond strength, and resistance to acids, alkalis, and water is a significant factor propelling the market.

Petroleum Resins Market CAGR Estimation:

Petroleum Resins Market is expected to reach US$ 3.81 Bn. by 2030, at a CAGR of 7.7% during the forecast period.

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Petroleum Resins Market Segmentation:

• Product Type: The C5 resins segment led the market due to its advantageous properties like better adhesion, anti-aging, fluidity, low volatility, and minimal odor. The C5/C9 segment is also expected to grow rapidly, driven by demand in heavy end-use industries. Hydrogenated resins are projected to grow at the highest rate owing to their eco-friendly and reliable nature.
• Application: Adhesives and sealants hold a major share in the market. Petroleum resins are used as tackifiers in these products to improve various performance characteristics such as tack, peel strength, specific adhesion, and high-temperature performance.
• End-User: The automotive industry led the market in 2018 and is expected to continue its dominance due to the use of petroleum resins in rubber compounding to enhance modulus and chipping resistance.

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Petroleum Resins Market: Which Regions are Experiencing Growth or Increased Demand?

• North America: Expected to be a lucrative market, driven by high disposable income and increasing investments in end-use industries.
• Asia Pacific: Flourishing due to expanding production capacities, substantial investments, and automation in major end-use industries. Countries like China, Japan, and India are significant contributors due to their large automotive manufacturing bases.

Petroleum Resins Market Scope and Methodology:

The report aims to provide a comprehensive analysis of the global Petroleum Resins market, covering past and current industry status, forecasted market size, trends, and key players. Analysis includes PORTER, PESTEL, and micro-economic factors impacting the market. The report helps stakeholders understand market dynamics, structure, and competitive landscape.

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Petroleum Resins Market Key Players:

1. Arakawa Chemical Industries
2. Eastman Chemical Company
3. Exxon Mobil Corporation
4. Kolon Industries
5. Lesco Chemical Limited
6. Zeon Corporation
7. Seacon Corporation
8. Neville Chemical Company
9. Total Cray Valley
10. Anglxxon Chemical Co.
11. Idemitsu Kosan Co.,Ltd
12. Puyang Changyu Petroleum resins Co., Ltd
13. BASF
14. The Dow Chemical Company
15. Cray Valley
16. Innova
17. Chemical Co., Limited
18. Shandong Landun Petroleum Resin Co., Ltd.
19. Shanghai Jinsen Hydrocarbon Resins Co., Limited
20. Sojitz Corporation
21. QINGDAO HIGREE CHEMICAL CO., LTD

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Key questions answered in the Petroleum Resins Market are:

• What is Petroleum Resins?
• What is the growth rate of the Petroleum Resins Market?
• Which are the factors expected to drive the Petroleum Resins market growth?
• What are the different segments of the Petroleum Resins Market?
• What growth strategies are the players considering to increase their presence in Petroleum Resins?
• What are the upcoming industry applications and trends for the Petroleum Resins Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Petroleum Resins Market?
• What major challenges could the Petroleum Resins Market face in the future?
• What segments are covered in the Petroleum Resins Market?
• Who are the leading companies and what are their portfolios in Petroleum Resins Market?
• What segments are covered in the Petroleum Resins Market?
• Who are the key players in the Petroleum Resins market?

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