Dublin, July 15, 2024 (GLOBE NEWSWIRE) -- The "Petroleum Resins - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Petroleum Resins is estimated at US$1.9 Billion in 2023 and is projected to reach US$2.7 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the petroleum resins market is driven by several factors. Advancements in resin production processes have significantly enhanced the performance and compatibility of petroleum resins with other materials, thereby expanding their application scope. For instance, innovations in hydrogenation techniques have led to the development of resins with superior stability and color retention, catering to high-end applications in various industries. The increasing demand from the automotive industry for high-performance adhesives, coatings, and rubber products is a significant driver, as these resins are essential for improving the durability and functionality of automotive components.
Additionally, the booming construction industry, with its growing need for high-quality paints, coatings, and sealants, is propelling market growth. The expansion of the packaging industry, particularly flexible packaging, which relies heavily on high-quality printing inks and adhesives, is further boosting the demand for petroleum resins. Environmental regulations and the push towards more sustainable and eco-friendly products have led to innovations in the production of hydrogenated and low-VOC (volatile organic compounds) resins.
These developments make petroleum resins more attractive to manufacturers aiming to reduce their environmental footprint. As these trends continue to evolve, the petroleum resins market is expected to experience robust growth, driven by ongoing technological advancements and the expanding applications in various industrial sectors.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the C5 Resins segment, which is expected to reach US$1.4 Billion by 2030 with a CAGR of a 4.9%. The C9 Resins segment is also set to grow at 4.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $526.3 Million in 2023, and China, forecasted to grow at an impressive 7.8% CAGR to reach $573.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Dow Inc., Eastman Chemical Company, ExxonMobil Chemical Company, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 392 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $2.7 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Petroleum Resins - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Shifts in End-Use Industries Throw the Spotlight on New Applications for Petroleum Resins
- Advances in Manufacturing Technologies Propel Growth in Petroleum Resins Market
- Stringent Environmental Regulations Drive the Adoption of Eco-Friendly Petroleum Resins
- Innovations in Polymer Blends Expand Addressable Market Opportunity for Petroleum Resins
- Increased Demand from Adhesives and Sealants Industry Strengthens Business Case for Petroleum Resins
- Rising Popularity of Packaging Solutions Accelerates Demand for High-Performance Petroleum Resins
- Construction Sector Growth Generates Opportunities for Petroleum Resins in Infrastructure Projects
- Surge in Automotive Production Drives Adoption of Petroleum Resins in Tire Manufacturing
- Shift towards Low-VOC Products Impacts Petroleum Resins Demand
- Technological Advancements in Coatings Industry Spur Growth in Petroleum Resins Consumption
- Increase in Road Construction Activities Boost Petroleum Resins Market
- Expansion of E-Commerce Industry Drives the Demand for Packaging Adhesives and Petroleum Resins
- Growing Awareness about Green Building Materials Propels Growth of Bio-Based Petroleum Resins
- Development of High-Performance Materials Strengthens the Use Case for Petroleum Resins
- Consumer Preference for High-Quality Printing Inks Generates Demand for Specialty Petroleum Resins
- Innovation in Road Marking Technologies Expands Opportunities for Specialty Petroleum Resins
- Fluctuations in Crude Oil Prices Creates Challenges for Petroleum Resins Market
FOCUS ON SELECT PLAYERS(Total 86 Featured)
- Dow Inc.
- Eastman Chemical Company
- ExxonMobil Chemical Company
- Kolon Industries, Inc.
- Lesco Chemical Ltd.
- Neville Chemical Company
- Puyang Tiancheng Chemical Co., Ltd.
- ZEON Corporation
For more information about this report visit https://www.researchandmarkets.com/r/m0n5pq
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