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Thursday, February 14, 2019
Adhesives & Sealants Application Segment to Dominate the Petroleum Resins Market in the U.S. Between 2016 and 2021
The report "Petroleum Resin Marketby 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", The petroleum resin market size is estimated to grow from USD 1.78 Billion in 2016 to USD 2.58 Billion by 2021, at a CAGR of 7.7%. Download Free PDF Brochure: https://bit.ly/2DGCAtl
The key players in the petroleum resin market are Eastman Chemical Company (U.S.), ExxonMobil Corporation (U.S.), Total CrayValley (U.S.), and Kolon Industries (South Korea), Shandong Landun Petroleum Resin Co., Ltd. (China), Puyang Tiacheng Chemical Co., Ltd. (China), and Shanghai Jinsen Hydrocarbon Resins Co., Limited (China).
Asia-Pacific: The largest market of petroleum resins
Asia-Pacific is currently the largest market for petroleum resins. China is the largest consumer of petroleum resins in this region.
The following are the favourable forces driving the market for petroleum resins in Asia-Pacific:
Major manufacturers of petroleum resins in the region
Growing commercial & industrial construction in the region
Increasing investment in automobile sector
C5 petroleum resins: The largest type segment of petroleum resin market
Petroleum resins are categorized into four major types by such as C5 petroleum resins, C9 petroleum resins, hydrogenated hydrocarbon resins, and C5/C9 petroleum resins. These are the widely used types of petroleum resins. In 2015, C5 petroleum resins accounted for the largest market share in terms of both value and volume due to easy availability and cost-effective nature.
Adhesives & sealants: The largest application segment of petroleum resin market
Petroleum resins are used in adhesives & sealants, printing inks, paints & coatings, rubber compounding, tapes & labels, and other applications. These are the main applications considered in the report. In 2015, the adhesives & sealants application segment accounted for the largest market share as compared to other applications, in terms of value and volume, due to its increasing usage in building & construction and book binding end-use industries.
Petroleum Resin Market worth 2.58 Billion USD by 2021
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