Petroleum Resins Market - Global Trends, and Forecast till 2025

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Petroleum Resins Market- Global Industry Insight,
Trends, Outlook, and Opportunity Analysis
2017-2025

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REPORT DESCRIPTION
Petroleum Resins Market Overview
Petroleum resins are low molecular weight
thermoplastic hydrocarbon resins obtained from
cracked petroleum fractions. It has a tackifying
effect, which is slight sticky effect and hence,
is used in coatings, paints, varnishes, printing
inks, paper, lithographic inks, adhesives,
concrete curing compounds, rubber, and other
applications. It is available in powders, crushed
nuggets, flakes, solid block, beads, solutions,
and dispersions forms. Increasing use of
petroleum resins for application in different
end-use industries including automotive,
construction, and consumer goods among others for
coating, waterproofing and rubber compounding is
driving growth of the petroleum resins market.
Growing demand for petroleum resins containing
low volatile organic compounds (VOCs) due to
stringent government regulations on VOCs
emissions such as Directive 1999/13/EC for VOCs
emissions from vehicle coatings and others is
further fuelling growth of petroleum resins
market. Volatility in the cost of raw materials
is one of the major factor restraining growth of
the global petroleum resins market. Aliphatic C5
resins accounted for the highest market share in
2016. This is due to advantages of aliphatic C5
resins such as better glutinosity, good
anti-ageing properties, fluidity, low volatility,
and minimized odor. These are used in hot-melt
adhesives, pressure sensitive adhesives,
solvent-based adhesives, rubber damping pieces,
rubber for inner tube of tires and other
applications.
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REPORT DESCRIPTION
Adhesive and sealants accounted for the largest
market share over the forecast period. Petroleum
resins are used as tackifiers in adhesives and
sealants to improve tack, peel strength, specific
adhesion, balance adhesion and cohesion, enhance
high temperature performance, and decrease
cohesive strength. Automotive industry accounted
for the highest market share in 2016 owing to the
use of petroleum resins in rubber compounding to
enhance modulus of the compound and chipping
resistance. According to the International
Organization for Motor Vehicles Manufacturers
(OICA), the global motor vehicle production was
90,780,583 in 2015, which increased to 94,976,569
in 2016. This growth in motor production is
increasing demand for petroleum resins in the
automotive industry. Asia Pacific is the
dominant petroleum resins market owing to
increasing demand from various application
segments such as paints, sealants, adhesives,
coating from automotive and construction
industries. For instance, according to India
Brand Equity Foundation a trust established by
the Department of Commerce, Ministry of Commerce
and Industry the passenger vehicle production
in India is expected to increase US 10 million
in 2020 from US3.2 million in 2015. Request
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REPORT DESCRIPTION
North America is the second largest petroleum
resins market due to growing demand from the
automobiles industry. For instance, according to
International Organization for Motor Vehicles
Manufacturers (OICA), the total automotive sales
in the U.S. and Canada was 19,785,141 in 2015,
which increased to 19,849,518 in 2016. Demand
for petroleum resins for applications in
adhesives and sealants is increasing in the
Europe market. According to the European Adhesive
and Sealant Industry (FEICA) the European
adhesive and coating market was valued at US
16,019.03 million in 2014 and accounted for the
market share of 35. Asia Pacific held the
largest revenue share of 38.39 in 2016 and is
expected to retain its dominance over the
forecast period. Key market players in the
global petroleum resins market are Arakawa
Chemical Industries, Eastman Chemical Company,
Exxon Mobil Corporation, Ltd., Kolon Industries,
Inc., Lesco Chemical Limited, Zeon Corporation,
Seacon Corporation, Neville Chemical Company,
Total Cray Valley, and Anglxxon Chemical Co.,
Ltd. To Get Discount on this Report
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