About Hydrocarbon Resins
Hydrocarbon Resins are also referred to as glass-like oligomers, which are formed by polymerization of by-product streams namely aliphatic, aromatic and DCPD that derives typically from the cracking of petroleum hydrocarbons. These resins can be future hydrogenated to increase colour, odour, and stability of resins. They are majorly prepared by the polymerization of numerous unsaturated elements of coal tar, rosin, or petroleum. Moreover, they are inexpensive and have a varied range of applications such as in rubber & asphalt formulations, properties such as high thermal stability, light colour, and excellent cold resistance make them ideal end-use applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Hydrocarbon Resins market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), The DOW Chemical Company (United States), Eastman Chemical Company (United States), ExxonMobil Corporation (United States), Total CrayValley (United States), Kolon Industries (South Korea)., Arakawa Chemical Industries Limited (Japan), Lesco Chemical Limited (China), Puyang Ruisen Petroleum Resins Co., Ltd. (China) and Zeon Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Innova (Tianjin) Chemical Co., Limited (The Netherlands), Shandong Landun Petroleum Resin Co., Ltd. (China), Puyang Tiacheng Chemical Co., Ltd. (China) and Shanghai Jinsen Hydrocarbon Resins Co., Limited (China)..
Segmentation Overview
AMA Research has segmented the market of Global Hydrocarbon Resins market by Type (C5, Aliphatic Resins, C9, Aromatic Resins and C5/C9, Aliphatic/Aromatic Resins), Application (Adhesives, Rubber mixing aids, Paint and ink additives, Asphalt additives and Other Uses) and Region.
On the basis of geography, the market of Hydrocarbon Resins has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-use industry, the sub-segment i.e. Building & construction will boost the Hydrocarbon Resins market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Popularity of Hydrocarbon Resins for and Performance Modifiers, Tackifiers and Homogenizing Agents
Market Growth Drivers:
Increasing Utilization of Hydrocarbon Resins in Building and Construction, Rising Demand for Hydrocarbon Resins in Printing Inks, Sealants, Paints Etc. and Amassed Demand for Hydrocarbon Resins in Adhesives Due To Their Properties
Challenges:
Increasing Shifts Toward Environment and Sustainability Trends and Rising Regulations on a Global Level
Restraints:
Volatility in Raw Material Prices for Hydrocarbon Resins and Fluctuating Prices of Naphtha
Opportunities:
Growing Automotive Sector in Emerging Nation Especially in Asia- Pacific and Surging Demand for Low Voc, Green, and Sustainable Hydrocarbon Resins
Market Leaders and their expansionary development strategies
In April 2022, Synthomer plc acquired the adhesive resins business of Eastman Chemical Company, including pure monomer resins, hydrocarbon resins, polyolefin polymers, fatty-acid-based resins and others product lines.
In December 2022, Cray Valley has launched its latest hydrocarbon resin – Wingtack 20, a viscous liquid aliphatic resin with high flash point and low color. Wingtack 20 provides excellent compatibility with many polymers, elastomers, olefins, EVA, and waxes. It enhances tack and flexibility and improves low-temperature properties.
Key Target Audience
Manufacturers of Hydrocarbons resins, Traders, distributors, and suppliers of Hydrocarbons resins, Regional manufacturers associations and general Hydrocarbons resins associations, Government and regional agencies and research organizations, Investment research firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.