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 market is driven by factors such as the rising demand for petroleum resins in EVA-based adhesives, printing inks, contact adhesives for footwear, sealants, specialty tapes, paints, packaging tapes, repositionable tapes, and permanent labels.
The surging demand for hydrocarbon resins in adhesive manufacturing owing to its properties including good adhesion, acid resistance, improved adhesive bond strength, alkali resistance, and water resistance is projected to the drive industry expansion during the forecast period. Also, the development of several catalytic polymerization and petrochemical complex to enhance the output of resins will augment the market size during the forecast period.
Petroleum Resins Market Report Highlights
• Hydrogenated petroleum resins is projected to register at a CAGR of 6.3% from 2017 to 2025, on account of the high consumption of the EVA/ APAO-based hot melt adhesives products and pressure sensitive adhesives
•The printing ink segment was valued at USD 214.9 million in 2016 and can be attributed to its increasing application in commercial printing, corrugated cardboards, publications, and packaging
•Europe accounted for an overall share of 23.4% in 2016, on account of the presence of automotive giants including BMW, Audi, Mercedes Benz, Aston Martin, Jaguar, Volkswagen, Fiat, Ferrari, Volvo,Lamborghini, and Porsche
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Petroleum Resins Market Segmentation
Grand View Research has segmented the global petroleum resins market on the basis of product, application, end use, and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• C5 resins
• C9 resins
• C5/C9 resins
• Hydrogenated resins
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• Printing inks
• Rubber & tires
• Tapes & labels
End-use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• Consumer goods
• Personal hygiene
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• North America
• The U.S.
• Asia Pacific
• Central and South America
• Middle East & Africa
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Grand View Research is an India & 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.
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