The worldwide petroleum resins market is growing at a CAGR of 7.7% to reach USD 2.58 billion by 2021. Increasing future opportunities for hydrogenated hydrocarbon resins is a major driver of the petroleum resins market. Rising demand from developing economies is a major driver of the petroleum resins market.
Complete report on global petroleum resins market spread across 179 pages, profiling 10 companies and supported with 50 tables and 57 figures is now available at http://www.rnrmarketresearch.com/petroleum-resin-market-by-type-c5-c9-hydrogenated-hydrocarbon-resins-and-c5-c9-resins-application-adhesive-sealants-printing-inks-paints-coatings-end-use-industry-building-construction-tire-and-by-st-to-2021-market-report.html .
The global petroleum resins market size is projected to reach USD 2.58 billion by 2021, at a CAGR of 7.7%. The growth is due to petroleum resins’ properties such as high chemical resistance, miscibility, low odor, low molecular weight, low solution viscosity, and inherently high solubility. These unique properties make it a valuable product for building & construction end-use industry which further drive the petroleum resins market.
Petroleum resins are segmented into four major types such as C5 petroleum resins, C9 petroleum resins, hydrogenated hydrocarbon resins, and C5/C9 petroleum resins. Hydrogenated hydrocarbon resins are expected to register the highest growth rate between 2016 and 2021. The properties such as less pollutant, chemical resistance, high adhesion strength, helped in driving the market for these resins in various applications such as paints & coatings, printing inks, rubber compounding, and adhesives & sealants.
In 2015, Asia-Pacific is estimated to register the highest growth rate between 2016 and 2021, and is estimated to remain the same in the next five years. Growing end-use industries such as automotive, personal hygiene, and tire in this region highly drive the market. China led the demand for petroleum resins due to increased demand of building & construction activities in the last few years.
The key companies profiled in this market research report include Total CrayValley (U.S.), Exxon Mobil Corporation (U.S.), Kolon Industries, Inc. (South Korea), Arakawa Chemical Industries Limited (Japan), and Eastman Chemical Company (U.S.). Ask for a discount before order a copy of Petroleum Resin Market by Type (C5, C9, Hydrogenated Hydrocarbon Resins and C5/C9 Resins), Application (Adhesive & Sealants, Printing Inks, Paints & Coatings), End-Use Industry (Building & Construction, Tire) and by Region - Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=527887 .
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
By Company Type: Tier 1 - 33 %, Tier 2 – 60% and Others - 7%
By Designation: C level - 56%, Director level - 33%, others - 11%
By Region: North America – 13%, Middle East & Africa-13%, Latin America-7%, Asia-Pacific – 20%, Europe – 47%
On a related note, another research on Carbon Fiber Resin Market Global Forecast to 2021 says, The carbon fiber resin market is estimated to grow from USD 292.7 Million in 2016 to USD 532.7 Million by 2021, at a compound annual growth rate (CAGR) of 12.7% from 2016 to 2021. Increasing demand for carbon fiber composite in end-use industries is driving the carbon fiber resin market. Aerospace & defense and automotive applications to drive the carbon fiber resin market during the forecast period. Companies like Huntsman Corporation(U.S.), Alpha Owens-Corning(U.S.), Hexion Inc.(U.S.), Ashland Inc. (U.S.), BASF SE(Germany), 3M(U.S.), Kukdo Chemical Co. Ltd.(South Korea), Olin Corporation(U.S.), Aliancys(Switzerland) and Polynt S.p.A. (Italy) have been profiled in this 129 pages research report available at http://www.rnrmarketresearch.com/carbon-fiber-resin-market-by-resin-type-thermoset-thermoplastic-by-form-prepreg-non-prepreg-by-application-and-by-region-global-forecast-to-2021-market-report.html .
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