What is Polyterpene Resin Market?
Polyterpene Resin also called Terpine resin is produced by Terpine monomer. It is compatible with polymer materials based on the combination of solubility, light color and stability. This resin has high to low softening point and has a use in preparation of adhesive tapes. Furthermore, it is used in food and beverage industry as the resin is chemically inactive. They are based on natural feedstock such as alpha-pinene, beta-pinene and d-limonene. Since, it is used in wide range of products and there is high demand in the market.
The market study is being classified by Type (Special Grade, First Grade and Second Grade), by Application (Agricultural retention, Chewing gum, Tapes, Adhesives and Other) and major geographies with country level break-up.
BOC Sciences (United States), Eastman Chemical Company (United States), Foshan Baolin Chemical Industry Co., Ltd (China), Grenhall Industries Inc. (Canada), Kraton Corporation (United States), Lesco Chemical Limited (United States), Mangalam Organics Limited (India), Skyrun Industrial (China), Xinyi Sonyuan Chemical Co., Ltd. (China) and Yasuhara Chemical Co., Ltd. (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Arizona Chemical (United States), Arakawa Chemical (Japan) and Pinova (Croatia).
In this market, the key players are present who are looking to increase the production and supply to gain more profit. Also, they are focusing on the expansion to raise the production Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Polyterpene Resin market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Polyterpene Resin market by Type, Application and Region.
On the basis of geography, the market of Polyterpene Resin 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Adoption Terpene Resin against Hydrocarbon Based Resins
- Rising Demand from End Use Industries is Boosting the Market
Market Trend
- High Investments in Research and Developments are Being Done
Restraints
- Limited Availability of Polyterpine Resins can Hamper the Market
- High Costs Associated with Terpene Resins
Opportunities
- Trade Investments across the Globe and Development of Relationship between the Countries
- Growing Adhesives Industry is Creating an Opportunity for the Terpene Resin
Challenges
- High Competition Due to the Presence of Major Players
- Lack of Awareness about the Polyterpene Resin
Market Leaders and some development strategies
In 2019, Eastman Chemical Company announced that it has acquired from Sasol, a global chemical and energy company
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations