Global Petroleum Resins Market: Asia Pacific dominating the Market
According to a new report published by Reports Monitor titled, “Global Petroleum Resins Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Petroleum resins market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Petroleum Resins are low molecular weight, aromatic hydrocarbon manufactured by the polymerization of olefins, diolefins and vinyl aromatic compounds, which is obtained by cracking various petroleum fractions. These Resins possess excellent thermal stability, resistant to heat and water and softening point forms the major factors in the market trends.
Presence of excellent features such as thermal resistance, water and chemical resistance forms the significant factor in propelling the market growth. . However the fluctuating price of the petroleum extracts would result in hampering the market growth.
The Global Petroleum Resins Market Professional Survey Report scrutinizes the present scenario and the future growth prospects of the Industry. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth and detailed analysis along with important inputs from the various industry experts.
Petroleum resin market is segmented on the basis of resin type, applications and end use. On the basis of resin type the market is bifurcated into: aliphatic C5 resins, aromatic C9 resins and hydrogenated hydrocarbon resin and C5/C9 resin. Among the following C5 holds the largest market share owing to the excellent tackling property, chemical and heat resistant. The market segmented by applications includes: paints, adhesives, coatings and printing inks. Among the following Paints and coatings is expected to hold the largest market share due to ability of resins to provide finishing property. Based on the end use the market is divided into construction, automotive, packaging and personal Hygiene.
Based on the geographical region covered the market is analyzed across: North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA). Among the following regions Asia Pacific is expected to dominate the market owing to expansion in construction, automotive and packaging sectors. The economies such as China, Japan and India hold the major share in the Asia Pacific region owing to the boundless consumption of C5 resin in various sectors. North America is projected to grow significantly due to increasing demand for hydrocarbon resins in packaging, automobile and construction sectors. Increased usage of aromatic compounds in the cosmetic sector forms the major driver in the market growth.
The key vendors in the smart hospital market are: Exxon Mobil Corporation (U.S.), Eastman Chemical Company (U.S.), Idemitsu Kosan Co.,Ltd (Japan), Puyang Changyu Petroleum resins Co., Ltd.(China), Arakawa Chemical Industries,Ltd (Japan), Kolon Industries, Inc(South Korea), BASF SE(Germany), The Dow Chemical Company( U.S.), Cray Valley(France), and Neville Chemical Company(U.S.).
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