The
global petroleum resins 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.
U.S.
petroleum resins market revenue by application, 2014 - 2025 (USD Million)
Browse full research report on Petroleum
Resins Market: http://www.grandviewresearch.com/industry-analysis/petroleum-resins-market
Further key findings from the study
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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-petroleum-resins-market
About
Grand View Research, Inc:
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, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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