Aliphatic C5 resin, Market is Projected to Reach USD Billion by 2027, Growing at a CAGR of around 6.0% During 2021-2027
Published | January 2021
According to BlueWeave Consulting, the global C5 resin market worth USD 1.1 billion in
2020, and is further projected to reach USD billion by 2027, growing at a
CAGR of around 6.0% during 2021-2027 (forecast period). C5 resins are aliphatic
resins, produced via polymerization and chemical processes using by-products of
the cracking process as feedstock.
The increasing demand for adhesives, paints, and coating will be major drivers for the C5 resin market. With excellent anti-aging properties and low volatility, C5 resins are being widely used in adhesives and tackifiers.
High demand for pressure sensitive tapes and labels is likely to fuel the growth of the C5 resin market.
C5 resins are widely used in the paints and coating industry, adhesive industry but now they are finding use in pressure-sensitive tapes and labels too. With the increasing demand for pressure, sensitive tapes, and labels in the packaging and medical sector, the market for C5 resin is likely to be affected positively.
Increasing demand for bio-friendly Rosin resin is likely to hamper the growth of the C5 resin market.
With the growing need for bio-friendly products, the customers and the companies are shifting their focus towards the bio-friendly and natural resins, such as Rosin resin. Rosin resin is obtained from a pine tree and similar plants. It is seen as a replacement for C5 resin is most likely to restrain the growth rate of the C5 resin market.
Adhesives and sealant industry dominated the C5 resin market and are likely to maintain the same status in the forecast period.
C5 resins have excellent anti-aging properties, low volatility, great adhesive properties, fluidity, low odor, and high stability even at high temperatures. They have found use in many industries. The adhesive industry was one of the major contributors to the growth of the C5 resin market. With the increasing urban population in developing Asia-Pacific countries and improving lifestyles, the demand is likely to go up. The high demand for C5 resin will fuel the growth of the C5 resin market.
Global C5 Resin Market: Regional insights
The global market of C5 resin is divided into Asia Pacific, Europe, North America, South America, and the Middle East. Asia Pacific region is likely to witness the highest growth rate thanks to its rapidly developing countries, high demand for end-user industry products, and modernizing lifestyle.
In the Asia Pacific, China and India are most likely to lead the way with both the countries trying to make the policies suitable for industrialization. This will lure in the investors, and companies, and will raise the market growth rate.
North America has always been one of the major markets for the C5 resin industry and is likely to be the same in the forecast period. With high disposable income, sustained investment in the end-user industry, and constant demand, the North America region will witness the 2nd highest growth rate for the C5 resin market.
Global C5 Resin Market: Competitive Landscape
The leading players for the global C5 Resin market include 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. Major players are engaged in mergers and acquisitions, expansion of their manufacturing facilities, infrastructural growth, investment in R&D facilities, and the quest for opportunities to expand vertically through the value chain.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global C5 Resin market size & forecast. The report promises to provide recent technology trends of the C5 Resin market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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