Market Forecast:

The Petroleum Resins Market size was USD 2.9 Billion in 2022. Covid-19's impacts have been unprecedented and staggering on a global scale, with the pandemic leading to negative demand shocks for the Petroleum Resins Market across all domains and regions. Between 2021 and 2030, the market is projected to grow at a CAGR of 8.35%, from USD 2.8 Billion in 2021 to USD 4.8 Billion in 2031. The sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over according to a new report by Intellectual Market Insights Research.

Petroleum resins are a type of thermoplastic resin that are derived from petroleum feedstocks. They are widely used in various applications, such as adhesives, coatings, and printing inks, due to their excellent properties such as high adhesion, high viscosity, and excellent thermal stability.The petroleum resins market refers to the global market for these types of resins. This market includes the production, distribution, and sale of petroleum resins to various end-use industries, including adhesives, paints and coatings, rubber, and printing inks.

The scope of the petroleum resins market includes various types of petroleum resins, such as aliphatic, aromatic, and hydrogenated resins, among others. The market also includes various applications of petroleum resins, such as adhesives and sealants, paints and coatings, printing inks, and rubber, among others. The petroleum resins market is influenced by various factors such as increasing demand from various end-use industries, growing demand for eco-friendly and low VOC products, and increasing demand for high-performance products. The market is highly competitive, with numerous players operating in the market, including major multinational corporations as well as smaller regional players.

The Petroleum Resins market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Petroleum Resins market.

Scope of Petroleum Resins Market Report:

A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Petroleum Resins Market. On the basis of historic growth analysis and current scenario of Petroleum Resins market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Petroleum Resins market. This further helps users with their developmental strategy.

This report examines all the key factors influencing growth of global Petroleum Resins market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Petroleum Resins market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.

The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

Market Drivers:

Increasing Demand from End-Use Industries including Paints & Coatings drives the market growth

The demand for petroleum resins is driven by their widespread use in various industries such as adhesives, paints and coatings, printing inks, and rubber. These industries require petroleum resins due to their excellent adhesive properties, high viscosity, and excellent thermal stability. For example, in the adhesive industry, petroleum resins are widely used in hot-melt adhesives and pressure-sensitive adhesives. In the printing ink industry, they are used as binders and tackifiers. As these end-use industries continue to grow, the demand for petroleum resins is expected to increase.

Increasing Demand for Eco-Friendly and Low VOC Products Drives the Market Growth

• With increasing environmental concerns, there is a growing demand for eco-friendly and low VOC products. Petroleum resins are widely used in the manufacture of low VOC products due to their excellent solubility and compatibility with other components. As such, the demand for petroleum resins is expected to increase as companies seek to produce more sustainable and environmentally friendly products. Additionally, many government regulations around the world are mandating the use of low VOC products, further driving demand for petroleum resins that can help meet these requirements.

Market Trends:

Increasing use of hydrogenated petroleum resins driving trend in the market

Hydrogenated petroleum resins are a type of petroleum resin that has been hydrogenated to improve its properties, such as better color stability and improved resistance to oxidation.The demand for hydrogenated petroleum resins is growing due to their superior properties compared to non-hydrogenated petroleum resins. They offer better thermal stability, lower odor, and better color stability, which makes them suitable for use in various industries such as adhesives, rubber, and coatings. Additionally, they have better compatibility with other components, which makes them easier to use in various formulations.

Another factor driving the growth of the hydrogenated petroleum resins market is the increasing demand for high-performance adhesives and sealants. Hydrogenated petroleum resins are widely used in the manufacture of hot-melt adhesives due to their excellent tack and adhesion properties, as well as their compatibility with other components. They are also used in the production of pressure-sensitive adhesives and sealants, where their excellent cohesion and adhesion properties make them ideal for use in demanding applications.Overall, the trend towards the use of hydrogenated petroleum resins is expected to continue in the coming years due to their superior properties and increasing demand for high-performance products in various end-use industries.

Restraining Factors:

Volatility in crude oil prices hinders the market growth

Since, petroleum resins are derived from petroleum feedstocks, their production cost is heavily influenced by the price of crude oil. The fluctuations in crude oil prices can lead to significant variations in the cost of production of petroleum resins, which can impact the profitability of manufacturers Moreover, the availability and price of raw materials used in the production of petroleum resins can also impact the market. The limited availability of certain types of feedstocks can restrict the production of specific types of petroleum resins, leading to supply shortages and higher prices.

Another factor that could limit the growth of the petroleum resins market is the increasing popularity of alternative resin technologies. For example, bio-based resins, such as soy-based resins, are becoming increasingly popular due to their renewable and sustainable nature. The demand for bio-based resins is driven by the increasing focus on reducing the carbon footprint of various products, which could lead to a decrease in the demand for petroleum resins in the long term. Overall, these factors could limit the growth of the petroleum resins market in the coming years, although the market is expected to remain stable due to the increasing demand from various end-use industries.

Report Coverage:

The report will cover the qualitative and quantitative data on the global air compressor market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Key Players Strategies:

• In December 2021, Eastman Chemical Company announced that it had completed the acquisition of INACSA, a leading Spanish producer of anhydrides and other chemical intermediates. The acquisition is expected to enhance Eastman's position in the European market for anhydrides, which are used in the production of petroleum resins and other products.
• In November 2021, ExxonMobil Chemical announced that it had entered into an agreement with Kraton Corporation to jointly develop and market new polymer products based on hydrogenated styrenic block copolymers. The agreement is expected to enable both companies to expand their product offerings in the adhesives, sealants, and coatings markets.
• In September 2021, TotalEnergies announced that it had signed an agreement with Arkema to develop a new range of bio-based polyamides, which are used in the production of petroleum resins and other high-performance polymers. The agreement is expected to contribute to the development of sustainable products for the chemical industry.

Key Players Analysis:

• Eastman Chemical Company
• ExxonMobil Corporation
• Total S.A.
• Arakawa Chemical Industries, Ltd.
• Kolon Industries, Inc.
• Lesco Chemical Limited
• ZEON Corporation
• Neville Chemical Company
• Puyang Changyu Petroleum Resins Co., Ltd.
• Anglxxon Chemical Products Corp.
• Cray Valley USA LLC
• Shandong Landun Petroleum Resins Co., Ltd.
• Shanghai Jinsen Hydrocarbon Resins Co., Ltd.
• Lanzhou Petrochemical Resins Co., Ltd.
• Guangdong Komo Co., Ltd.

Petroleum Resins Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2021-2028 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Segmentation Analysis:

By Resin

The petroleum resins market can be segmented based on the type of resin used, including:

C5 Resins: These are petroleum resins that are produced using C5 fractions of petroleum, such as piperylene and isoprene. C5 resins are widely used in the production of hot-melt adhesives, rubber, and pressure-sensitive adhesives due to their excellent adhesive properties.

C9 Resins: These are petroleum resins that are produced using C9 fractions of petroleum, such as styrene and indene. C9 resins are widely used in the production of coatings, printing inks, and rubber due to their excellent compatibility with other components.

Hydrogenated Hydrocarbon Resins: These are petroleum resins that have been hydrogenated to improve their properties, such as better color stability and improved resistance to oxidation. Hydrogenated hydrocarbon resins are widely used in the production of adhesives, sealants, and coatings due to their excellent adhesion and compatibility with other components.

C5/C9 Resins: These are petroleum resins that are produced using a combination of C5 and C9 fractions of petroleum. C5/C9 resins offer a balance of properties and are widely used in the production of coatings, printing inks, and rubber.

Dicyclopentadiene (DCPD) Resin: These are petroleum resins that are produced using dicyclopentadiene as a feedstock. DCPD resins offer excellent thermal stability and are widely used in the production of adhesives, coatings, and rubber.

By Application

The petroleum resins market can also be segmented based on the application of these resins, including:

Adhesives and Sealants: Petroleum resins are widely used in the production of hot-melt adhesives, pressure-sensitive adhesives, and sealants due to their excellent adhesive properties and compatibility with other components.

Printing Inks: Petroleum resins are used in the production of printing inks due to their excellent compatibility with pigments and other additives. They also provide good color development, adhesion, and gloss properties.

Paints and Coatings: Petroleum resins are used in the production of paints and coatings as binders, additives, and modifiers. They provide good adhesion, corrosion resistance, and film-forming properties.

Rubber Compounding: Petroleum resins are used in the production of rubber products, such as tires and belts, as tackifiers and reinforcing agents. They improve the adhesion of rubber to other components, such as metal and fabric.

Others: Petroleum resins are also used in various other applications, such as wax blends, plastic modifiers, and fuel additives.

By End Use Industry

The petroleum resins market can also be segmented based on the end-use industry, including:

Personal Hygiene: Petroleum resins are used in the production of various personal hygiene products, such as diapers, feminine hygiene products, and baby wipes. They provide good adhesion, elasticity, and softness to these products.

Automotive: Petroleum resins are used in the production of various automotive products, such as adhesives, sealants, and coatings. They provide good adhesion, corrosion resistance, and durability to these products.

Building and Construction: Petroleum resins are used in the production of various building and construction products, such as sealants, adhesives, and coatings. They provide good adhesion, water resistance, and weatherability to these products.

Tire Industry: Petroleum resins are used in the production of various rubber products, such as tires and rubber belts. They provide good adhesion, tackiness, and reinforcing properties to these products.

Others: Petroleum resins are also used in various other industries, such as packaging, textiles, and electronics.

The report also helps in understanding Global Petroleum Resins Market dynamics, structure by analyzing the market segments, and project the Global Petroleum Resins Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Petroleum Resins Market make the report investor’s guide.

Regional Analysis:

The objective of the report is to present comprehensive analysis of Global Petroleum Resins Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The petroleum resins market is geographically segmented into various regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

North America: The North American market for petroleum resins is expected to grow due to the increasing demand for adhesives and sealants in various end-use industries, such as automotive and construction.

Europe: The European market for petroleum resins is expected to grow due to the increasing demand for printing inks and coatings in the region. The increasing demand for low-VOC coatings is also expected to drive the market growth.

Asia-Pacific: The Asia-Pacific market for petroleum resins is expected to grow at a significant rate due to the increasing demand for adhesives and sealants in the automotive and construction industries. The region is also a major producer and consumer of rubber products, which is expected to drive the demand for petroleum resins.

Middle East & Africa: The Middle East & Africa market for petroleum resins is expected to grow due to the increasing demand for adhesives and sealants in the construction and packaging industries. The region is also a major producer of oil and gas, which provides a steady supply of raw materials for the production of petroleum resins.

South America: The South American market for petroleum resins is expected to grow due to the increasing demand for printing inks and coatings in the region. The growth of the automotive and construction industries in the region is also expected to drive the demand for adhesives and sealants.

Petroleum Resins Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

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

Asia-Pacific

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

Latin America

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

Middle East and Africa

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

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Industry Developments:

• In February 2022, Eastman Chemical Company announced the launch of a new product line of low molecular weight hydrocarbon resins called "Eastman Crystex Lite." The new resins are designed to offer excellent color stability and adhesion in hot melt adhesives, pressure-sensitive adhesives, and other applications.
• In January 2022, ExxonMobil announced that it had completed the acquisition of a petrochemical plant in Singapore from Jurong Aromatics Corporation (JAC). The plant produces aromatics and oxo-alcohol products, which are used in the production of petroleum resins.
• In December 2021, Total S.A. announced the acquisition of Synova, a leading producer of high-performance polymers and specialty chemicals. The acquisition is expected to strengthen Total's position in the specialty chemicals market, including the production of petroleum resins.
• In October 2021, Arakawa Chemical Industries, Ltd. announced the expansion of its production capacity for petroleum resins at its plant in Okayama, Japan. The expansion is aimed at meeting the growing demand for adhesives and coatings in Asia.

Key Reasons to Purchase:

• To gain insightful analyses of the Petroleum Resins market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Petroleum Resins market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Petroleum Resins market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Thermal Imaging Market:

• Historic year: 2018- 2021
• Base year: 2022
• Forecast: 2023 to 2031
• Representation of Market revenue in USD Million

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