January 2021
BWC20264

179
global c9 hcr market
Global C9 HCR Market size- Industry Trends & Forecast Report 2026.
The global C9 HCR market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 1.2 billion in 2020. The market is further expected to touch USD billion by 2027, growing at a CAGR of almost 5.5% during 2021-2027 (forecast period). C9 HCR resin is an aromatic resin, produced via several polymerization and chemical processes using aromatic by-products of naphtha cracking. The composition of C9 resin depends upon the feed used for the manufacturing process. C9 resins are used to produce adhesives, hot melts, paints, and coatings, rubber, plastic modifiers, glutting agents, etc. C9 resins are generally used when there are concerns over thermal and color stability.
Source: BlueWeave Consulting
Global C9 HCR Resin Market Overview:
C9 HCR resin, an aromatic resin, is often produced by the C9
aromatic hydrocarbons. C9 hydrocarbons obtained from the cracking processes are
used as the feedstock for the C9-resin production. Some of the important
monomers to produce C9 aromatics HCR resin are Indene, Alpha-Methylstyrene
(AMS), Methyleindenes, and DCPD styrenes, and many others. C9 resins, depending
upon the feedstock, vary in composition and can have varying softening points.
C9 aromatic hydrocarbon resins have a darker color, high viscosity, and high
softening point range when compared with C5 resins. C9 resins have many
applications, such as Paints and coatings, adhesives, lubricants, glutting
agents. Adhesives and hot melt adhesives hold the largest market share in the
C9 resin market.
C9 HCR Resin Market Forecast and Trends
Growth Drivers
Excellent adhesive properties with high
thermal and color stability of C9 resin will drive the market growth.
C9 aromatic hydrocarbon resin is used extensively to produce
adhesives and hot melts. C9 aromatic resins have an excellent adhesive property
and are highly stable even at high temperatures. C9 aromatic resins are highly
compatible with a range of solvents, paints, coatings, and polymers. C9 resins
have excellent color stability and are used in large quantities in the paints
industry. C9 resins also provide good resistance against water, acid, and
alkali.
Restraints
High cost of production will restrict the
growth of the market.
Cost of production is always a major factor in the market growth
of any product. The manufacturing cost associated with C9 aromatic resin is
very high, and it raises the cost of the product as well. C9 resin is only used
when there are genuine concerns over the thermal and color stability of paints
and coatings. The high cost of the product is likely to reduce the demand for
the product and affect the market growth negatively.
Emergence of rosin resin as a bio-friendly alternative to C9 resin is most likely to hamper the growth of the C9 resin Industry.
The growth of the C9 resin market is likely to be adversely
affected by the emergence of rosin resin. The rosin resin, obtained from Pine
trees and plants, is a natural resin and has minimal effects on human health.
The rosin resin and C9 resins have many properties in common. Antibacterial
properties of rosin resin have made them a hot topic of research to use in the
food and beverages industry. Rosin resin also makes a good tackifier to be used
with adhesives.
Impact of COVID-19 in industry
The global economy and humanity have been pushed into a crisis
due to the COVID-19 pandemic. Due to the high infection rate and adverse impact
on public health systems, various governments have enforced nationwide
lockdowns significantly impacting manufacturing supply chains, trade, and
related services. Players are currently considering digital solutions that
would enable them to serve the community and provide new opportunities to do
business. The production, manufacturing, supply chain, and other operations,
have slowed down globally aimed to limit the spread of the coronavirus. The
global impact of the coronavirus disease 2019 (COVID-19) is likely only
beginning and it significantly affected the market in 2020. The second wave of
COVID-19 has started, and with the cases of the second strain of COVID-19
increasing, the countries are again announcing nationwide lockdowns. Despite
the growing uncertainty and panic, technology suppliers must continue to focus
on their long-term investments, maintain engagement with partners and
prospects, and look to specific markets for stability.
C9 Resin Market: By End Use
Based on the End-use, the C9 resin market is segmented into adhesives, hot melts, paints, and coatings, rubber, plastic modifiers, glutting agents, etc. The hot melt and adhesive market are likely to dominate globally. The enhanced thermal and oxidative resisting properties along with high compatibility of C9 resins with other polymers and solvents are fueling the demand and acting as the major factors driving the growth of this end-user segment. C9 is used in the rubber industry extensively due to its mutual solubility with natural rubber particles. C9 resins are used as paper glutting agents owing to their unsaturation properties.
Source: BlueWeave Consulting
C9 HCR Market: Regional Insight
The global market for C9 resin is divided into Asia-Pacific, Europe, North America, South America, and Middle East regions. Asia-Pacific region is most likely to dominate the C9 HCR resin market with China, and India leading the way. The regional market share is likely to grow in the forecast period owing to the growing automotive industry and increasing construction work. In recent years the production of natural rubber in India has increased significantly, which will positively affect the market growth of C9 HCR resin. North America region is likely to follow the lead with high disposable income, great investment opportunities, and high demand for adhesives, tapes, and hot melts.
Source: BlueWeave
Consulting
Competitive
landscape
C9
resin market is fragmented owing to the presence of number of companies that
provides varied petroleum resin products. However, the companies that hold the
majority share of Petroleum resin market are Brasken,
Cymetech (Owned by Sojitz), Reliance Industries, Henghe Petrochemical Co., Ltd,
Shandong ShenxianRuisen Petroleum Resins Co., Ltd, Cepsa, Mitsui Chemicals,
Ineos Phenol, ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu, Puyang
Changyu Petroleum Resins, Lesco, Kolon Hydrocarbon, PuyangTiancheng Chemical
Co.Ltd. Arakawa Chemical Industries, Eastman Chemical Company, BASF, Dow
Chemicals, and other prominent players.
In the C9 resin market, prominent market participants compete based on price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for global expansion, in a bid to gain a more considerable brand reputation.
Scope of the
Report
Attribute |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2021 Forecast – 2022 – 2027 |
Facts
Covered |
Revenue in USD Billion |
Market
Coverage |
U.S, Canada, Germany, UK, Germany, France, Italy, Spain, Italy, Japan, China, India, Japan, Singapore, South Korea, Brazil, Mexico, Saudi Arabia, GCC
Countries, UAE, South Africa, |
Product/Service
Segmentation |
By End-Use Industry and By Region |
Key
Players |
Brasken,
Cymetech (Owned by Sojitz), Reliance Industries, Henghe Petrochemical
Co., Ltd, Shandong
ShenxianRuisen Petroleum Resins Co., Ltd, Cepsa,
Mitsui Chemicals, Ineos Phenol, ExxonMobil,
Rain carbon, Zeon Corporation, Idemitsu,
Puyang Changyu Petroleum Resins, Lesco, Kolon
Hydrocarbon, PuyangTiancheng
Chemical Co. Ltd. Arakawa
Chemical Industries, Eastman
Chemical Company, BASF, Dow
Chemicals, and others |
Scope of the Report
By End Use
Industry
Ø Paints and coatings
Ø Adhesives and sealants
Ø Lubricants
Ø Rubber compounding
Ø Hot melt adhesives
Ø Glutting agents
Ø Others
By Region
Ø
North America
Ø
Europe
Ø
Asia Pacific
Ø
Middle East and Africa
Ø
Latin America
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
Contact NowWHY CHOOSE US
-
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs.
-
Quality & Accuracy
offers best quality reports based on various authentic and accurate data findings.
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.