Hydrocarbon Resins Market

Hydrocarbon Resins Market is expected to grow with a CAGR of 7.1% over the forecast period. Increasing use of hydrocarbon resins in building & constructions, growing demand in adhesive applications and rising demand for hydrocarbon resins in printing inks, paints & coatings are major factors anticipated to drive the growth of Global Hydrocarbon Resins Market.

Scope of Global Hydrocarbon Resins Market Report:

Hydrocarbon resins are the glass-like oligomers that are delivered by polymerization of by-product, like aromatic (C9), aliphatic (C5), and DCPD (dicyclopentadiene), which are gotten basically from the breaking of petrol hydrocarbons for the creation of ethylene. These hydrocarbon resins hydrogenated to further develop odour, colour and stability, just as adjusting compatibility. Hydrocarbon resins are hard or tacky materials arranged by the polymerization of a few unsaturated constituents of coal tar, rosin, or oil. The carbon and hydrogen are the elements of hydrocarbon resins. There are two types of hydrocarbon resin. One type includes types of general synthetic resins like polypropylene, polystyrene and polyethylene. Petroleum resin, cyclopentadiene resin, and terpene resin which are achieved from the oil breaking process or coal tar division is the other sort of hydrocarbon resin.

Hydrocarbon resins have tack and tack retention, astounding restricting properties, high protection from dampness, UV strength, and great similarity and solubility. Other major characteristics are low odour, high thermal stability, polymer compatibility, light colour, and amazing cold resistance which make them ideal for a large range of end clients. Major applications of hydrocarbon resins are hot melts, PSA tapes, and labels hydrocarbon resin issued in the production of hot melt adhesive, paint, rubber painting ink and coating. Resins are used in production process of paint, both the hardness and the film adhesion would be promoted the natural rubber perfectly and it enhances the viscosity of the final product. In addition, in printing ink industry the resin could be able to improve the printing performance, Manufacture of rubbers, coatings, printing inks, and adhesives.

Covid-19 pandemic has shown a negative impact on the growth of the hydrocarbon resins market owing to the supply chain disruptions. Overall scenario of COVID -19 pandemic caused the decline in the hydrocarbon resins market due to reduced demand from end-users thus there is decrease in manufacturing.

Global hydrocarbon resins market is segmented on the basis of type, application, products and region & country level. On the basis of type, the global hydrocarbon resins market was segmented into C5 petroleum resins, C9 petroleum resins, C5/C9 petroleum resins, hydrogenated hydrocarbon resins. On the basis of application, the market is classified into adhesives &sealants printing inks, rubber compounding, paints & coating, tapes & labels and others. On the basis of end-users, the global hydrocarbon resins market is divided into building &construction, personal hygiene, tires, automotive and others.

Global Hydrocarbon Resins Market Segmentation:

By Type:

• C5 Petroleum Resins
• C9 Petroleum Resins
• C5/C9 Petroleum Resins
• Hydrogenated Hydrocarbon Resins

By Application:

• Adhesives & Sealants
• Printing Inks
• Rubber Compounding
• Paints & Coatings
• Tapes & Labels
• Others

By End-User:

• Building & Construction
• Personal Hygiene
• Tires
• Automotive
• Others

Hydrocarbon Resin Market Key Players:

• Eastman Chemical Company
• ExxonMobil Corporation 
• Shandong Landun Petroleum Resin Co., Ltd.
• Puyang Tiacheng Chemical Co., Ltd.
• Shanghai Jinsen Hydrocarbon Resins Co. Limited
• Others.

News: Kolon Industries Began to Produce New Hydrocarbon Resin of Its Own Development

June 22^nd, 2021; Kolon Industries has developed an advanced hydrocarbon resin that has a dramatically improved adhesion power. The company will enter the global high-value hydrocarbon resin market with this and other new products. Kolon Industries announced on June 21 that it has expanded its hydrocarbon resin production facility in Yeosu, South Jeolla Province, to mass-produce high-reactive resin (HRR), pure monomer resin (PMR), liquid hydrocarbon resin and high-performance tire resin.

Increasing Use of Hydrocarbon Resins in Building & Construction, Growing Demand in Adhesive Applications and Rising Demand for Hydrocarbon Resins in Printing Inks, Paints & Coatings are major factors Driving the Market Growth

One of the major factors drive the growth of global hydrocarbon resins market is increasing use of hydrocarbon resins in building & construction. A hydrocarbon resin has property of high adhesive strength to almost all materials and high resistance to chemicals and variety of environment condition. Because of these properties, hydrocarbon resins are widely use in building and construction industry. In addition, another major factor fostering the growth of global hydrocarbon resins market is growing demand in adhesive applications. Hydrocarbon resins are used in adhesives like hot-melt adhesives and pressure-sensitive adhesives and coatings. Another best use of hydrocarbon resins is in hot-melt adhesives. Hot melt adhesives have low processing costs and they are also solvent-free and can carry less environmental impact. C9 hydrocarbon resins are adaptable in use and broadly compatible with different polymers. Major application areas are in hot melts, printing inks, paints and solvent based adhesives fuelling the growth of global hydrocarbon resins market.

Furthermore, rising demand for hydrocarbon resins in printing inks, paints & coatings is also supplementing market growth. Hydrocarbon resins are added to paints as they raise the last finishes of paints, the adhesiveness of paint films, and the hardness and protection from corrosive and antacid components. In this manner, development in hydrocarbon resins in paints and coatings is relied upon to support the worldwide hydrocarbon resins market during the forecast period. However, rising price of raw material in the petroleum resin market may hamper the growth of the global hydrocarbon resins market. In spite of that, the production of hot-melt adhesive and rising consumption of paints & coating industry can offer some more opportunities in the global hydrocarbon resins market.

North America is Excepted to Dominate the Global Hydrocarbon Resins Market

North America is anticipated to dominate the global hydrocarbon resins market over the forecast period due to the presence of major key players and high investment in the field of hydrocarbon resins. For instance; on April 8^th, 2019, Exxon Mobile Corporation opened manufacturing plants for hydrocarbon resins and halobutyl rubber make their mark in Singapore.

Asia Pacific is expected to witness a fastest growth rate in the global hydrocarbon resins market due to the increasing demand and production of hydrocarbon resins in adhesive industry and rising growth of printing, paint and coating industry in this region. For example; according to the Argus Media Group; with promptly accessible hydrogenation innovation and the Made in China 2025 command, makers in China are both putting in new facilities and updating current facilities to deliver more hydrogenated resins. By 2021, makers in China are relied upon to make 130% of the whole worldwide limit of 2012. Somewhere in the range of 2015 and 2021, 712kT of limit will have been added, most in China.

On Special Requirement Hydrocarbon Resins Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global Hydrocarbon Resin Market-

• Global Hydrocarbon Resin report covers in-depth historical and forecasts analysis.
• Global Hydrocarbon Resins research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Hydrocarbon Resin Manufacturers, Market Opportunities, Competitive Analysis, Hydrocarbon Resin Uses, Regional and Country Level.
• Global Hydrocarbon Resins report helps to identify opportunities in the marketplace.
• Global Hydrocarbon Resins report covers extensive analysis of emerging trends and competitive landscape.

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