Petroleum Resins Market Analysis

ID: MRFR/CnM/3371-CR

111 Pages

Chitranshi Jaiswal

October 2019

Petroleum Resin Market Research Report Information by Type (C5 Resins, C9 Resins, Dicyclopentadiene (DCPD), Hydrogenated Petroleum Resins and C5/C9 Resins), Form (True and Masterbatch),  Application (Adhesives, Paints & Coatings, Printing Inks, Rubbers, Plastic Films and others), End-Use Industry (Construction, Automotive, Packaging, Personal Hygiene and others), Region (Asia-Pacific, ...

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Market Analysis

In-depth Analysis of Petroleum Resins Market Industry Landscape

C5 petroleum resins play a crucial role as tackifying agents in the adhesives and sealant industry, especially in the formulation of hot-melt and pressure-sensitive adhesives. The significance of C5 resins stems from their favorable characteristics, such as good fluidity, which enhances the wetting properties of the primary material. Additionally, these resins exhibit superior initial adhesion performance, transparency, remarkable resistance to aging, and are devoid of any unpleasant odor and volatile organic compounds (VOCs). Due to their aliphatic nature, C5 resins are predominantly employed as tackifiers for aliphatic polymers. These polymers include natural rubber, styrene-ethylene butylene-styrene block copolymers, amorphous polyolefins, styrene-isoprene-styrene block copolymers, polyethylene, EPDM rubber, butyl rubber, and petroleum waxes. C5 resins find applications in the manufacturing of pressure-sensitive tapes, labels, and nonwoven products, where their unique properties contribute to the effectiveness of the adhesive products. In the realm of paints and coatings, which are integral for safeguarding and preserving various objects, petroleum resins, including C9 and DCPD resin, have widespread applications. The color of the petroleum resin is a critical factor in its use in paint production. Additionally, the stability of the resin under UV radiation and heat, along with its storage stability, plays a pivotal role. C9 and DCPD resins, known for their high softening points, contribute to uniform color spreading, providing a brightening effect with rapid drying. C9 petroleum resins, in particular, are favored in paints due to their adhesion characteristics, resistance to acidic and alkaline substances, and the hardness and adhesiveness they impart to paint films. The higher softening point of the resin leads to faster drying times for paints. Moreover, C9 petroleum resins are utilized in printing inks to achieve uniform color spread and rapid drying effects. Beyond paints, C9 petroleum resins find application in external coatings, anti-corrosive paints, and varnishes. Their inclusion enhances the gloss and hardness of the paint while rendering it resistant to water, thereby accelerating the film's drying rate. These resins are also employed in newspaper ink, offset ink, and rubber compounding sets, augmenting coating properties such as dryness, hardness, and resistance to water, acids, and bases. In marine and alkyd coatings, C9 petroleum resins contribute to increased adhesion, hardness, glossiness, and resistance to acid and saltwater, effectively preventing corrosion. Furthermore, these resins play a role in road-marking paints, where they form binders for thermoplastic road marking materials. The combination of low molecular weight petroleum-based resin and a plasticizer enhances toughness, bond strength, gloss, and flexibility while providing excellent resistance to abrasion, water, UV radiation, and weathering. The escalating demand for these petroleum-based resins is observed in the construction and automotive sectors, particularly in architectural and protective coatings. C5 and C9 petroleum resins serve as versatile components in the adhesives, paints, and coatings industries, playing pivotal roles in enhancing performance and meeting specific requirements across a range of applications.

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What will be the possible market valuation of the petroleum resin market?

The global petroleum resin market is predicted to touch USD 10.57 Billion by 2035.

At what CAGR is the petroleum resin market expected to grow over the forecast period?

Petroleum Resins Market is projected to grow at a CAGR of 6.65% during the forecast period, 2025-2035

Which region is predicted to have lions share in the petroleum resin market?

Asia Pacific is predicted to have lions share in the petroleum resin market during the forecast period.

What are the key factors driving the petroleum resin market?

Low processing cost, favorable regulatory scenario, and increasing use in the paints & coatings industry is boosting market growth

Which factors may act as deterrents in the petroleum resin market?

Easy availability of substitutes and fluctuating raw material prices may deter market growth.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Certified Researchers

Market Summary

The Global Petroleum Resin Market is projected to grow from 5.20 USD Billion in 2024 to 10.57 USD Billion by 2035, indicating robust growth potential.

Key Market Trends & Highlights

Petroleum Resin Key Trends and Highlights

The market is expected to experience a compound annual growth rate (CAGR) of 7.93% from 2025 to 2035.
By 2035, the market valuation is anticipated to reach 12.0 USD Billion, reflecting increasing demand.
in 2024, the market is valued at 5.20 USD Billion, showcasing a solid foundation for future growth.
Growing adoption of petroleum resins in various applications due to their versatility is a major market driver.

Petroleum Resins Market

CAGR

6.65%

Market Size & Forecast

2024 Market Size	5.20 (USD Billion)
2035 Market Size	10.57 (USD Billion)
CAGR (2025-2035)	6.65%
Largest Regional Market Share in 2024	latin_america)

Major Players

Exxon Mobil Corporation (U.S.), Eastman Chemical Company (U.S.), Total Cray Valley (France), Sojitz Corporation (Japan), Kolon Industries Inc. (South Korea), Arakawa Chemical Industries, Ltd (Japan), ZEON CORPORATION (Japan), QINGDAO HIGREE CHEMICAL CO., LTD (China), Puyang Tiancheng Chemical Co., Ltd (China), Qingdao Reehua Yuanhai Biotech Co., Ltd (China), Puyang United Chemical Co., Ltd (China), LESCO CHEMICAL LIMITED (China), Neville Chemical Company (U.S.)

Market Trends

The global petroleum resin market appears poised for growth, driven by increasing demand across various industries, including adhesives, coatings, and inks, which suggests a robust trajectory in the coming years.

U.S. Department of Energy

Petroleum Resins Market Market Drivers

Market Growth Projections

The Global Petroleum Resin Market Industry is poised for substantial growth, with projections indicating a market value of 5.2 USD Billion in 2024 and an anticipated rise to 12.0 USD Billion by 2035. This growth trajectory reflects a compound annual growth rate (CAGR) of 7.93% from 2025 to 2035, suggesting a robust expansion driven by diverse applications across various sectors. The increasing demand for high-performance materials in adhesives, coatings, and printing inks is likely to propel this growth. As industries continue to innovate and seek advanced solutions, the Global Petroleum Resin Market Industry appears well-positioned to capitalize on emerging opportunities.

Expansion in the Coatings Sector

The coatings sector plays a pivotal role in the Global Petroleum Resin Market Industry, as petroleum resins are integral to formulating high-quality paints and coatings. The increasing demand for durable and weather-resistant coatings across various industries, including automotive, marine, and industrial applications, propels market growth. The shift towards eco-friendly and sustainable coatings further enhances the appeal of petroleum resins, as they can improve the performance of low-VOC formulations. This sector's expansion is expected to contribute substantially to the market's growth trajectory, with projections indicating a rise to 12.0 USD Billion by 2035, underscoring the importance of petroleum resins in modern coatings.

Rising Applications in Printing Inks

The Global Petroleum Resin Market Industry is witnessing a notable increase in the use of petroleum resins in printing inks. These resins enhance the adhesion, gloss, and drying properties of inks, making them indispensable in the printing industry. As digital printing technologies advance and demand for high-quality printed materials rises, the need for effective resin formulations becomes apparent. The market's growth in this segment is indicative of the broader trend towards innovation in printing technologies. This increasing application of petroleum resins in printing inks not only supports the market's expansion but also highlights the versatility of these materials across various industries.

Growing Demand from Adhesives and Sealants

The Global Petroleum Resin Market Industry experiences a robust demand surge from the adhesives and sealants sector. This growth is primarily driven by the increasing utilization of petroleum resins in formulating high-performance adhesives that are essential in various applications, including construction, automotive, and packaging. As industries seek to enhance product performance and durability, the incorporation of petroleum resins becomes vital. The market is projected to reach 5.2 USD Billion in 2024, reflecting the escalating need for advanced adhesive solutions. This trend indicates a significant opportunity for manufacturers to innovate and expand their product offerings in the Global Petroleum Resin Market Industry.

Increasing Demand for Sustainable Products

The Global Petroleum Resin Market Industry is increasingly shaped by the demand for sustainable products. As consumers and industries prioritize eco-friendly materials, petroleum resins are being reformulated to meet these expectations. Manufacturers are exploring bio-based alternatives and recycling processes to reduce environmental impact while maintaining performance standards. This shift towards sustainability not only aligns with global environmental initiatives but also opens new market opportunities. The growing emphasis on sustainable practices is likely to influence product development and marketing strategies within the Global Petroleum Resin Market Industry, fostering innovation and potentially leading to increased market share.

Technological Advancements in Resin Production

Technological advancements in the production of petroleum resins are significantly influencing the Global Petroleum Resin Market Industry. Innovations in manufacturing processes, such as the development of more efficient polymerization techniques, lead to enhanced resin quality and performance. These advancements enable manufacturers to produce resins that meet the evolving demands of various applications, from adhesives to coatings. Furthermore, the integration of sustainable practices in resin production aligns with global environmental goals, potentially attracting a broader customer base. As these technologies continue to evolve, they are likely to drive market growth and enhance the competitive landscape within the Global Petroleum Resin Market Industry.

Market Segment Insights

Regional Insights

Key Companies in the Petroleum Resins Market market include

Industry Developments

To develop sustainable packaging in October 2021- TBM Co., Ltd. announced the signing of a sales contract with PT. KEMAS Indah Maju deals with environmental problems by launching LIMEX Pellet as a plastic substitute to inject molding for the beauty industry. KEMAS is the leading beauty and health plastic molding firm across Indonesia, serving beauty brands across the globe.LIMEX Pellet comprises 50% or more inorganic material such as calcium carbonate, lowers the volume of petroleum-derived plastics by up to 37%, and CO2 emissions by up to 28% as that of petroleum-derived plastics, as per the TBM survey.

It can substitute acrylonitrile butadiene styrene (ABS), polypropylene (PP) resin, which is used in several cosmetic containers and can be offered at a steady price because of less price volatility the main raw material of LIMEX, limestone, matched with petroleum resin.December 2021- Ford has disclosed that the company is now using 100-percent recycled ocean plastics to develop a Bronco Sport compact SUV component. Ford alleges to be the first automaker to use 100-percent recycled ocean plastics to manufacture auto parts.

The firm also claimed that recycled plastic generated from ocean debris is qualitatively equivalent to petroleum-based resin but saves up to 10% and requires less energy to produce.In September 2019, for manufacturing the tire product throughout the Asia-Pacific region, a new tire additive division had been set up in Shanghai, China, by the Eastman for optimizing the manufacturing process for enhancing the tire products performance at the headquarters of Eastman’s that is in China.

The increasing use of petroleum resin in road-making paints increases the scope of the petroleum resin market in the global market during the forecasted period from 2017 to 2025.

It has also been observed that there has been a substantial increase in the investment of the petroleum resin market in the global market by various stakeholders for manufacturing paints and adhesives for gathering swing.

Cracking of petroleum fractions is done for lowering the molecular weight in the hydrocarbons, which will further add essence to the petroleum resin market in the global market.

Various chemical and physical properties are used in the petroleum resin market that helps in popularising it; also, the sticking ability is used in various industries like paper, concrete curing compounds, rubber, printing inks, and adhesives industries in the global market.

Future Outlook

Petroleum Resins Market Future Outlook

The Global Petroleum Resin Market is projected to grow at a 6.70% CAGR from 2025 to 2035, driven by increasing demand in adhesives, coatings, and automotive applications.

New opportunities lie in:

Develop bio-based petroleum resins to meet sustainability demands.
Expand into emerging markets with tailored product offerings.
Invest in R&D for high-performance resins in automotive applications.

By 2035, the market is expected to achieve substantial growth, reflecting evolving industry needs and innovation.

Market Segmentation

Report Overview

Report Scope

Attribute/Metric	Details
Market Size 2024	USD 5.2 Billion
Market Size 2025	USD 5.55 Billion
Market Size 2035	10.57 (Value (USD Billion))
Compound Annual Growth Rate (CAGR)	6.65% (2025 - 2035)
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2020-2024
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Form, Application and End-Use
Geographies Covered	North America, Europe, AsiaPacific, and Rest of the World
Countries Covered	The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Eastman Chemical Company (US), Exxon Mobil Corporation (US), Neville Chemical Company (US), Total Cray Valley (France), Kolon Industries Inc (South Korea), Arakawa Chemical Industries, Ltd (Japan), ZEON CORPORATION (Japan), Sojitz Corporation (Japan), QINGDAO HIGREE CHEMICAL CO., LTD (China), Puyang Tiancheng Chemical Co., Ltd (China), Qingdao Reehua Yuanhai Biotech Co., Ltd (China), Puyang United Chemical Co., Ltd (China), and LESCO CHEMICAL LIMITED (China)
Key Market Opportunities	The increase in demand for a product in rubber compounding application provides various growth opportunities in the global market.
Key Market Dynamics	The increasing application of the petroleum resin market for the production of hot-melt adhesives. Growing consumption of paints and coating industry

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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