San Francisco, 19
November 2018: The global petroleumresins market is expected
to reach USD 4.1 billion by 2025, growing at a CAGR of 6.9% from 2017 to 2025,
according to a new report by Grand View Research, Inc. The rising demand for
petroleum resins in EVA-based adhesives, contact adhesives for footwear,
printing inks, sealants, paints, specialty tapes, repositionable tapes,
packaging tapes, and permanent labels is expected to increase the market size.
Increasing demand for hydrocarbon resins in
adhesives owing to properties such as good adhesion, improved adhesive bond
strength, acid resistance, alkali resistance, and water resistance is expected
to the drive industry expansion over the forecast period.The development of
various petrochemical complex and catalytic polymerization to increase the
output of resins is likely to augment the market size over the next eight
years.
Automotive was the prominent segment and
accounted 23.9% of the overall revenue share in 2016. The segment is expected
to register substantial gains owing to the increasing production of passenger
cars, light commercial vehicles, and heavy commercial vehicles in countries
such as India, Thailand, and China.
Moreover, the Chinese auto sector policies
and measures such as Automotive Readjustment and Revitalization Plan,
Energy-Saving and New-Energy Auto Industry Plan, and Foreign Direct Investment
opportunities are augmenting vehicle production, which in turn is expected to
propel the market growth.
Access
Research Report of Petroleum Resins Market
@ www.grandviewresearch.com/industry-analysis/petroleum-resins-market
Further key findings from the report suggest:
· Hydrogenated petroleum resins is expected
to register high volume gains at a CAGR of 6.3% from 2017 to 2025. The rising
consumption of the products in EVA/ APAO-based hot melt adhesives and pressure
sensitive adhesives as they offer good heat stability, water resistance and
compatibility is expected to drive the industry growth.
· The printing ink segment was valued at USD
214.9 million in 2016 and is anticipated to witness high gains on account of
the rising usage in commercial printing, publications, packaging, and
corrugated cardboards applications
· Europe accounted for 23.4% of the overall
volume share in 2016 and is anticipated to witness steady growth due to the
presence of major automotive manufacturers including Audi, BMW, Mercedes Benz,
Jaguar, Aston Martin, Volkswagen, Volvo, Fiat, Ferrari, Lamborghini, and
Porsche
· The global petroleum resins market
showcases immense competition with the presence of various large and
small-scale participants in Japan, the U.S., and China. Key players include
Eastman Chemical Company; ExxonMobil; Zeon Chemicals; Lesco Chemical Limited;
Kolon; Neville; Puyang Tiancheng Chemical Co., Ltd.; and The Dow Chemical
Company.
· In December 2016, Saudi-based Rufayah
Chemicals Company (RCC) signed a deal with Sadara Chemical Company for setting
up one of the largest hydrocarbon resin plants with an investment of
approximately USD 500 million in the PlasChem Park to produce hydrocarbon
resin, pure DCPD, isoprene, aromatic solvents, and premium wash oils
· Zeon Chemicals offers Quintac and Quintone
manufactured by using proprietary Isoprene and Piperylene technology having
excellent tack, cohesive strength, and holding power
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/bulk-chemicals
Grand View Research has segmented the
global petroleum resins market on the basis of product, application, end use,
and region:
Product Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
C5 resins
·
C9 resins
·
C5/C9 resins
·
Hydrogenated resins
Application Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
Paints
·
Adhesives
·
Printing inks
·
Rubber & tires
·
Tapes & labels
·
Others
End-use Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
Automotive
·
Construction
·
Packaging
·
Consumer goods
·
Personal hygiene
·
Others
Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Petroleum Resins Market@ www.grandviewresearch.com/press-release/global-petroleum-resins-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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