Hydrogenated hydrocarbon resin (HHCR), Market is Projected to Reach USD Million by 2027, Growing at a CAGR of around 8% During 2021-2027
Published | January 2021
According to BlueWeave Consulting, the global HHCR market worth USD 970 million in
2020, and is further projected to reach USD million by 2027, growing at a
CAGR of around 8% during 2021-2027 (forecast period). Hydrogenated hydrocarbon
resin (HHCR), also known as “WaterWhite”, is a hydrogenated product of several
types of resins. Typically, C5, C9, DCPD, or C5/C9 resins are used as feedstock
for the manufacturing of HHCR. Major applications of HHCR are adhesives, hot
melt adhesives, paints, and coatings, etc.
Adhesives and sealants market is likely to grow with the highest CAGR and drive the market for hydrogenated hydrocarbon resins (HHCR).
HHCR is used in many industries, such as – Paints and coating, tackifiers, hot melt adhesives, rubber compounding, etc. One of the major areas of application for HHCR is the production of heat and cold resistive tackifiers. HHCR tackifiers have great adhesive strength with enhanced resistivity against cold and heat. When HHCR is added to a bipolar film, it’s transparency, rigidity, and vapour barrier properties get enhanced. Waterwhite (HHCR) is also used to produce hot melt adhesive hygiene products.
Requirement of extreme conditions for hydrogenation of hydrocarbons will affect the market growth negatively.
The hydrogenation reaction of hydrocarbons does not take place under normal conditions. Extreme conditions (HPHT – high pressure, high temperature) are required for the hydrogenation process. For generating such conditions, a special type of reactors is required. A lot of capital investment is necessary to acquire such reactors. Small companies, without the security of large funds to back them, are likely to move away from investing big. A specific type of catalyst is used for the products with specific properties. The Companies, buying catalysts from other companies will again have to invest big for getting such a catalyst, and it’ll affect the market negatively.
C5-HHCR was leading the market in recent years and will drive the market again in the forecast period.
Hydrogenated hydrocarbon resins have 3 different grades, C5-HHCR, C9-HHCR, and DCPD-HHCR. C5-HHCR had the highest share of the market in recent years and is likely to maintain the same in the upcoming years. C5-HHCR is more cost-friendly compared to C9 and DCPD HHCR. C5-HHCR has enhanced thermal and water resistivity, high color stability, enhanced UV-protection, and have more adhesive strength compared to C5-HCR. C5-HHCR is also highly compatible with elastomers and base resins.
Global HHCR Market: Regional insights
The global market for HHCR 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 for the HHCR market owing to its rapidly developing countries, high demand for end-user industry products, ever-improving lifestyles, and presence of many automotive and construction businesses in the region. The increasing demand for hygiene products in South Asia is likely to contribute to the growth of the HHCR market in Asia-pacific.
North America is projected to follow the lead of Asia-Pacific, with high income, great business opportunities, and the availability of a highly-skilled workforce.
Global HHCR Market: Competitive Landscape
The leading players for the global HHCR market include Axis Chemicals Pty Ltd, Commonwealth Laminating & Coating Inc, Credrez, Dycon Chemicals, BASF, Dow Chemicals, Henghe Petrochemical Co., Ltd, Shandong ShenxianRuisen Petroleum Resins Co., Ltd, Resin Chemicals Co. Ltd, SGL Carbon, Solutia Inc., Sumitomo Chemicals, Ineos Phenol, ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu, Puyang Changyu Petroleum Resins, Lesco, Kolon Hydrocarbon, PuyangTiancheng Chemical Co. Ltd, Arakawa Chemical Industries, and others are expanding their presence in the market by implementing various business strategies. 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.
Don’t miss the business opportunity of the HHCR Resin market. Consult our analyst, gain crucial insights, and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global HHCR Resin market size & forecast. The report promises to provide recent technology trends of the HHCR 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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