Petroleum Resins Market Gaining Momentum Ahead on Innovation: Henan Anglxxon Chemical Co.,Ltd.

Allied Market Research has released a comprehensive 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."

Market Highlights

- Market Size: Valued at $2.5 billion in 2018, the market is projected to reach $4.0 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028.
- Pages in Report: 379
- Segments Covered: Resin Type, Application, End-Use Industry, and Region

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A17417

Key Market Drivers

- Construction Industry Boom: The demand for adhesives and sealants in construction boosts market growth.
- Personal Hygiene Demand: Rising consumer awareness of baby hygiene products is driving resin applications in hygiene products.
- Food Packaging: Hydrogenated hydrocarbon resins are witnessing increased demand in food-safe packaging applications.

Opportunities:

- Growing adoption of protective coatings and road asphalts.
Expanding demand for adhesives and sealants in the packaging industry.

Restraints:

- Volatility in raw material prices.
- Segment Insights

By Resin Type

C5 Resins: Accounted for over half of the market share in 2018 and are expected to retain dominance due to industrialization and urbanization in emerging economies.
Hydrogenated Hydrocarbon Resins: Set to grow at the highest CAGR of 5.4% due to increasing demand in high-performance applications like food packaging.

By Application

- Adhesives & Sealants: Held the largest share in 2018 (~33%), driven by construction industry demand.
- Paints & Coatings: Poised to grow at the highest CAGR of 5.5% due to resins enhancing product gloss, water resistance, and chemical stability.

By End-Use Industry

Building & Construction: Dominated in 2018 (~25%), leveraging resin-based adhesives for durable structures.
Personal Hygiene: Expected to grow at the highest CAGR of 5.7% due to increasing healthcare expenditure and disposable incomes.

Regional Overview

Asia-Pacific: Dominated the market in 2018, contributing over half of the global revenue. The region is projected to maintain leadership, with the highest CAGR of 5.4%, driven by urbanization and infrastructure developments.

Key Players

Major companies are adopting strategies like product innovation, collaborations, and regional expansions to strengthen their market positions. Key players include:

- Arakawa Chemical Industries
- Exxon Mobil Corporation
- Kolon Industries, Inc.
- Neville Chemical Company
- Synthomer Plc

Conclusion

The global petroleum resins market demonstrates robust growth potential across diverse applications, particularly in construction, packaging, and hygiene sectors. Opportunities abound for manufacturers to address the evolving demands of high-performance materials in industries like automotive and aerospace.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/petroleum-resins-market-A17417

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