Global C9 HCR Market, By Application (Paints and Coatings, Adhesives and sealants, printing inks, rubber and tires, plastic modifiers, glutting agents, other applications), By Region (North America, Europe, Asia Pacific, and Rest of the World); Trend Analysis, Competitive Market Share & Forecast, 2020-2027.

  • Published Date: January 2021
  • Report ID: BWC20264
  • Available Format: PDF
  • Page: 179

Report Overview

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