Rapid urbanization and surge in government infrastructural plans across the world drive the growth of the global petroleum resins market. Based on application, the adhesives and sealants segment garnered the major share in 2021. By region, on the other hand, the market across Asia-Pacific would showcase the fastest CAGR by 2031.

Portland, OR, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global petroleum resins market was estimated at $2.8 billion in 2021 and is expected to hit $4.8 billion by 2031, registering a CAGR of 5.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report Coverage & Details:

Covid-19 scenario-

• Decreased demand for C9 and C5 petroleum resins from industries such as paints & coatings and automobile impacted the global petroleum resins market negatively, especially during the initial period.

• However, as the majority of sectors restored their operations gradually, the market for petroleum resins also got back on track.

The global petroleum resins market is analyzed across resin, application, end use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on resin, the C5 resins segment contributed to more than half of the global petroleum resins market revenue in 2021, and is expected to dominate by 2031. The hydrogenated hydrocarbon resins segment, on the other hand, would showcase the fastest CAGR of 7.1% throughout the forecast period.

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Based on application, the adhesives and sealants segment accounted for more than one-third of the total market revenue in 2021, and is expected to dominate by 2031. The paints & coatings segment, simultaneously, would cite the fastest CAGR of 6.7% throughout the forecast period.

Based on end use industry, the building & construction segment held nearly one-third of the total market revenue in 2021, and is expected to dominate by 2031. The personal hygiene segment, however, would cite the fastest CAGR of 7.5s% throughout the forecast period.

Based on region, the market across Asia-Pacific generated more than half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 6.5% during the forecast period. The other regions studied in the report include North America, LAMEA, and Europe.

The key market players analyzed in the global petroleum resins market report include Eastman Chemical Company, Exxon Mobil Corporation, Innova (Tianjin) Chemical Co., Limited, Kolon Industries, Inc.,  Lesco Chemical Limited, Neville Chemical Company, Puyang Tiancheng Chemical Co., Ltd., Henan Anglxxon Chemical Co. Ltd., RuiSen ReSin Co. Ltd., Arakawa Chemical Industries, Ltd., Shanghai Jinsen Hydrocarbon Resins Co., Ltd.,  Seacon Corporation, Shandong Landun Petroleum Resin Co., Ltd., TotalEnergies, Zeon Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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