Petroleum Resin Market to offer a healthy CAGR of 9.2% during 2020-25
February 18, 2020
Petroleum Resin Market Overview:
Petroleum resin market is likely to witness an impressive CAGR of 9.2% during the forecast period. The petroleum resin market is driven by the development of various end-use industries, such as building & construction, automotive, personal hygiene, and tire industry. Petroleum resins are employed to deliver chemical confrontation, pressure, and adhesion-resistance characteristics in these sectors.
Report Overview:
This new report from Stratview Research analyses the Petroleum Resin Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Petroleum Resin Market Segment Insights:
Application Type: adhesives & sealants, paints & coatings and others
Based on the application type, the market is segmented as adhesives & sealants, paints & coatings, printing inks, rubber compounding, tapes & labels, and others. In 2018, the adhesives & sealants segment held the largest share against their onshore application counterparts. The paints & coatings segment is expected to depict the highest growth in the coming five years.
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https://www.stratviewresearch.com/toc/563/petroleum-resin-market.html
A highly/moderately/fragment consolidated Market
Some of the major players in the petroleum resin market are Arakawa Chemical Industries Limited, Anglxxon Chemical Co., Ltd., Eastman Chemical Company, Exxon Mobil Corporation, Innova (Tianjin) Chemical Co., Limited, Kolon Industries, Inc., Lesco Chemical Limited, Neville Chemical Company, Puyang Ruisen Petroleum Resins Co., Ltd., and Seacon Corporation.
Region: Asia-Pacific is leading the market for petroleum resins
In terms of regions, Asia-Pacific is leading the market for petroleum resins. China and India are the growth engines of the region. The increasing claim for petroleum resins in this region is mainly bolstered by their applications in building & construction. The presence of giant market players in the region also significantly attributes to the high demand for petroleum resins. North America is estimated to be the second-largest customer of petroleum resins, across the globe. The market in this region is mainly fueled by the burgeoning growth opportunities from automotive, personal hygiene, and tire industries. Latin America is estimated to be the second fastest-growing market during the forecast.
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