Hydrocarbon Resin Market Projected to Reach USD 4.7 Billion by 2031, Expanding at a CAGR of 6.8%| | Transparency Market Research Report

News provided by

Jul 30, 2024, 10:30 ET

Building & Construction Sector to Paint the Success of Hydrocarbon Resin Market

WILMINGTON, Del., July 30, 2024 /PRNewswire/ -- As per the latest report published by Transparency Market Research (TMR), the global hydrocarbon resin market is estimated to reach US$ 4.7 Bn by 2031 at a noticeable CAGR of 6.8% between 2023 and 2031.

Hydrocarbon resins are synthetic polymers used predominantly as tackifiers. There are various ways of manufacturing hydrocarbon resins with diverse softening points as well as chemical compositions. They can be easily hydrogenated for enhancing their thermal stability and color.

Hydrocarbon resins are versatile products that hold the capability of performing crucial functions in several applications such as production of inks, coatings, rubber, and adhesives. The rubber industry makes use of hydrocarbon resins for optimizing traction and rolling resistance of tires. The other applications constitute modification of paints, paper, bitumen, and plastic.

Request a PDF Sample of this Report Now! https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=35270

C9 resins, in ink industry, are used in several printing processes such as gravure, flexography, and screen printing. They enhance ink adhesion, drying properties, gloss, color intensity, apart from proper printability on diverse substrates, thereby making them an ideal choice amongst the alternatives that are available.

Hydrocarbon resins are used in construction activities on frequent basis as a concrete-curing compound owing to their exceptional properties of adhesion (as mentioned above), which is bolstering their sales.

Hydrocarbon Resin Market Report by TMR highlights the factors that catalyze as well as restrain the hydrocarbon resin market growth. The latest trends and opportunities have also been captured in the report.

Key Takeaways from Hydrogen Resin Market Report

• Usage of Hydrocarbon Resins in Paints & Coatings, and Adhesives & Sealants Sector

Hydrocarbon resins are used in formulating paints & coatings in order to improve properties such as durability, gloss, and adhesion. Such resins add water and weather resistance to the road-making paints and industrial coatings. They are deployed in rust preventive paints for devising paints resistant to water and chemicals.

Hydrocarbon resins can be used in pressure-sensitive, hot melt, carpet and floor backing, and construction applications. The advantages of hot melt adhesives include lower production costs, lack of solvents, beneficial regulatory environment, and environmentally-friendliness.

• Building & Construction Sector to shape the Trajectory of Hydrocarbon Resin Market Expanse

Southeast Asia, China, India, Brazil, ASEAN, and Mexico are being swept by urbanization at a rapid pace, thereby boosting the building & construction sector in Asia Pacific. Hydrocarbon resins offer various advantages as compared to the other resins. It is easily possible to modify C9 aromatic and C5 aliphatic resins for several industrial uses. It involves altering compatibility and hydrogenating the hydrocarbon resins to improve odor, color, and stability.

The developed economies of North America and Europe are witnessing refurbishment of the residential as well as commercial complexes. The EU has pledged to achieve carbon neutrality through upgradation of buildings by the year 2050.

Hydrocarbon Resin Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2017-2021
Size in 2022	US$ 2.6 Bn
Forecast (Value) in 2031	US$ 4.7 Bn
Growth Rate (CAGR)	6.8 %
No. of Pages	445 Pages
Segments covered	By Type, By Category, By Function, By Application

Hydrocarbon Resin Market Regional Insights

Asia Pacific – The Consolidation Partner

Asia Pacific holds close to 39% of the hydrocarbon resin market share and the scenario is expected to remain unchanged during the forecast period. This is ascribed to the exponential growth of building & construction sector in India and China. As per Euromonitor, Asia Pacific is expected to account for almost 40% of construction sector's output value by the year 2030.

Leading Players in Hydrocarbon Resin Industry

Eastman Chemical Company, ExxonMobil Corporation, Mitsui Chemicals, KOLON Industries Inc., ENEOS Corporation, American Refining Group, Cray Valley, Zeon Corporation, VNK AS, Lesco Chemical Limited, Arakawa Chemical Industries Ltd., Puyang Tiacheng Chemical Co., Ltd., Neville Chemical Company, Qingdao Eastsun New Materials Corp., and ECOPOWER New Material Co. Ltd.

Unlock Growth Potential in Your Industry! Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=35270

Key Strategies by Prominent Hydrocarbon Resin Manufacturers

The leading players are launching novel products to stand out from their counterparts in the hydrocarbon resin market. For instance, in March 2024, SABIC introduced its new resin and is also one of the finalists for 'Edison Best New Product Awards'.

Similarly, in April 2024, Novoset announced that it had concluded a licensing agreement with Shin-Etsu Chemical Co., Ltd. in order to manufacture and market modified hydrocarbon resins based on the former's intellectual property. The resins are known for possessing ultra-low dielectric loss properties at higher frequencies, have low CTE, higher Tg, and exceptional long-term thermos-oxidative stability at 250 degree Celsius.

Market Segmentation

Type
- C5 Resins
- C9 Resins
- C5/C9 Copolymer Resins
- Hydrogenated Resins
Category
- Aromatic
- Aliphatic
Function
- Tackifier
- Reinforcing Material
- Curing Agent
- Others
Application
- Asphalt Paving
- Shingle
- Hot-melt Adhesives
- Pressure-sensitive Adhesives
- Solvent Adhesives
- Road-marking Paints
- Rubber Compounding
- Adhesives Tapes
- Printer Inks
- Flexible Packaging
- Lubricant Additives
- Others
End-use
- Adhesives & Sealants
- Building & Construction
- Paints & Coatings
- Rubber
- Inks & Dyes
- Tapes & Labels
- Lubricants
- Packaging
- Others

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=35270&ltype=S

More Trending Reports by Transparency Market Research –

Polymer Foam Market - The global market is estimated to grow at a CAGR of 4.2% between 2022 and 2031.
Flooring Market - The global flooring market was valued at US$ 333.6 Bn in 2021 and is projected to grow at a CAGR of 6.4% during the forecast period from 2022 to 2031.
Ceramic Tiles Market - The ceramic tiles market was estimated to have acquired US$ 100.1 billion in 2021. It is anticipated to register an 8.6% CAGR from 2022 to 2031 and by 2031.
Synthetic Diamond Market - The global synthetic diamond market size was worth US$ 21.4 Bn. The global market is likely to expand 6.9% CAGR during the forecast period, from 2022 to 2031.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Website: https://www.transparencymarketresearch.com

Email: [email protected]

Follow Us: LinkedIn| Twitter| Blog | YouTube

Logo - https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

SOURCE Transparency Market Research