Global Petroleum Resin Market

Global Petroleum Resin Market

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Global Petroleum Resin Market, By Type (Aliphatic C5 Resins, Aromatic C9 Resins, Dicyclopentadiene, Hydrogenated hydrocarbon Resins, C5/C9 Resins); By Usages (Adhesives and Sealants, Paints and Coatings, Printing Ink, Rubber Compounding, Tapes and Labels, Others); By Region (North America, Europe, Asia Pacific, South America, and the Middle East); Trend Analysis, Competitive Market Share & Forecast, 2020-2027.

  • Published Date: January 2021
  • Report ID: BWC20278
  • Available Format: PDF
  • Page: 179

Report Overview

The global petroleum resin market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 3.2 billion in 2020. The market is further expected to touch USD  billion by 2027, growing at a CAGR of almost 7% during 2021-2027 (forecast period).

Global Petroleum Resin Market size- Industry Trends & Forecast Report 2026.

The global petroleum resin market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 3.2 billion in 2020. The market is further expected to touch USD  billion by 2027, growing at a CAGR of almost 7% during 2021-2027 (forecast period). Petroleum resin, produced from the by-products of cracking processes, is likely to witness a growth in the market during the forecast timeframe due to a rise in the demand for adhesives, paints and coatings, printing inks, and personal hygiene products. Furthermore, the rapidly urbanizing population in Asia pacific region will fuel the growth of the petroleum resin market. 



                                                                                 Source: BlueWeave Consulting


Global Petroleum Resin Market Overview:

Petroleum Resins are by-products of the cracking process and are also known as “Hydrocarbon Resins.” Hydrocarbon Resins (HCR) are synthetic resins, produced by polymerization and various chemical processes. Aliphatic (C5), Aromatic (C9), DCPD (Dicyclopentadiene) hydrocarbons are often used as feedstock for HCR. The mixture of these hydrocarbons is also used as a feedstock to produce hydrocarbon resins. Petroleum resins are known for their improved flow, enhanced water, and heat resistivity. The petroleum resins have several areas of application, such as Paints and coatings, adhesives, tapes and labels, packaging materials, etc. Adhesives, and hot melt adhesives are emerging as the biggest market for petroleum hydrocarbon resins.


Petroleum Resin Market Forecast and Trends

Growth Drivers 

Increasing urban population in Asia-Pacific region 


The rise in the urban population in the Asia-Pacific region is one of the major drivers for the growth of the petroleum resin market. According to the Total and Urban Population Data of UNCTAD by the United Nations, 49% population of Asia-Pacific is still living in rural areas. Because Asia has 2 of the world’s most populated countries, the number of people living in rural areas is huge and in upcoming years the rate of urbanization is only going to go up. The demand for adhesives and sealants, paints and coating, tapes and labels is rapidly growing in the Asia-pacific region owing to the rapid rise in construction work, increasing investment in the automotive sector, and rise in Industrialization. Increased construction work, the rapidly growing packaging industry and constantly improving lifestyles are some of the drivers, helping the petroleum resin market grow. 


Excellent adhesion properties at high temperature

Petroleum resin has excellent adhesion and is highly stable even at high temperatures. This, along with their anti-aging properties, fluidity, low volatility and minimized odor, and good resistivity towards the water, contribute towards their rapidly growing demand in the end-user industry. Paints and coating are where petroleum resins are used extensively due to their excellent adhesive properties. In paints and coatings, petroleum resins provide enhanced pigment wetting, gloss, adhesion, and film hardness. Along with this, they also improve the flow and provide water resistance. 




Volatile nature of the price of the feedstock and introduction of bio-friendly resins


Feedstock for petroleum resins is a by-product of naphtha cracking. The pricing of naphtha is directly dependent on the pricing of crude oil. The crude oil market is very volatile, and prices change every day. This volatility in the crude oil market directly influences the prices of petroleum resins, which negatively affects the profits of manufacturers and distributors.

In recent times, the shift of the market is towards bio-friendly resins, which will also affect the market of petroleum resins negatively and will hamper the market growth.


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.


Petroleum Resin Market: By Type


Based on the type of feedstock used to produce petroleum resin, the market is divided into C5-resin, C9-resin, DCPD-resin, and HHCR resin. C5-resin had the biggest share of the market previously and is likely to maintain the same growth rate during the forecast period. Excellent adhesive strength, anti-aging properties, enhanced thermal resistivity, and protection against water are some of the major properties encouraging the use of C5-resin. C9-resin and DCPD-resin market are growing with notable CAGR and are likely to maintain the same growth rate.


Petroleum Resin Market: By End Use


Based on the End-use, the petroleum resin market is segmented into adhesives and sealants, paints and coatings, printing inks, personal hygiene products, the automotive, rubber industry, and others, etc. The adhesive and sealant market are likely to dominate the global market for the forecast period. With the increasing number of urbanizing population with an ever-increasing need for personal hygiene products, the rapidly growing industrial sector is going to drive the market. The automotive sector with a high demand for rubber will also be contributing to the growth of the market. 

Petroleum ResinMarket: Regional Insight

On a global scale, the petroleum resin market is fragmented into the Asia-Pacific region, Europe, North America, South America, and the Middle East. Asia-Pacific region is most likely to dominate the petroleum resin market followed by North America and the others. The developing countries in the Asia-Pacific region such as China. Japan and India have major opportunities for industrial production, retail sales, and fixed-asset investment for Petroleum Resin. Several other economies such as Indonesia, the Philippines, and Singapore in the Asia Pacific region are also forecast to grow at modest rates. The company's productivity is directly proportional to the productivity of workers. Hence, businesses in these regions are commonly embracing different instruments to help workers increase their productivity.

Recent Developments

  • First announced in August 2019, Reliance Industries and Saudi Aramco are trying to finalize a deal worth USD 15 billion. Mukesh.

  • Ambani is trying to sell 20% stake in Reliance Jamnagar refinery to Saudi Aramco, as Reliance try to shift their focus from Energy segment of Oil and Gas business to Chemical business. 

  • In October 2020, Total Cray Valley announced that their hydrocarbon resin business in France is not for sale: If reports from the last year were to be believed, Total Cray Valley were planning to sell their resin business in France, but in October 2020, Total cleared the air and said their France business is not for sale

Competitive landscape

Petroleum 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 petroleum 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



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 Types, 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


By Types

  • Aliphatic C5 Resins
  • Aromatic C9 Resins
  • Dicyclopentadiene (DCPD)
  • Hydrogenated hydrocarbon Resins (HHCR)
  • C5/C9 Resins

By End Use Industry

  • Adhesive and sealants
  • Pressure Sensitive Adhesives (PSA)
  • Holt Melt Adhesives (HMA)
  • Paints and Coatings
  • Printing Inks
  • Rubber Compounding
  • Tapes and Labels
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

1.    Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology


2.1. Qualitative Research

2.1.1.   Primary & Secondary Research

2.2. Quantitative Research

2.3. Market Breakdown & Data Triangulation

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Region

2.5. Assumption & Limitation

3.    Executive Summary

4.    Global Petroleum ResinMarket Insights

4.1. Industry Value Chain Analysis

4.2. DROC Analysis

4.2.1.   Growth Drivers

4.2.2.   Restraints

4.2.3.   Opportunities

4.2.4.   Challenges

4.3. Recent Development/Technological Advancement

4.4. Porter’s Five Forces Analysis

4.4.1.   Bargaining Power of Suppliers

4.4.2.   Bargaining Power of Buyers

4.4.3.   Threat of New Entrants

4.4.4.   Threat of Substitutes

4.4.5.   Intensity of Rivalry

5.    Global Petroleum Resin Market Overview

5.1. Market Size & Forecast by Value, 2020-2027

5.1.1.   By Value (USD Billion)

5.1.2.   By Volume (KT)

5.2. Market Share & Forecast

5.2.1.   By Type       Aliphatic C5 Resins       Aromatic C9 Resins       Dicyclopentadiene (DCPD)       Hydrogenated hydrocarbon Resins (HHCR)       C5/C9 Resins

5.2.2.   By Application       Introduction       Adhesive and sealants           Pressure Sensitive Adhesives (PSA)           Holt Melt Adhesives (HMA)       Paints and Coatings       Printing Inks       Rubber Compounding       Tapes and Labels       Others

5.2.3.   By Region   North America   Europe   Asia Pacific   Latin America   Middle East & Africa

6.    North America Petroleum Resin Market

6.1. Market Size & Forecast by Value, 2020-2027

6.1.1.   By Value (USD Billion)

6.1.2.   By Volume (KT)

6.2. Market Share & Forecast

6.2.1.   By Type

6.2.2.   By Application

6.2.3.   By Country     United States     Canada

7.    Europe Petroleum Resin Market

7.1. Market Size & Forecast by Value, 2020-2027

7.1.1.   By Value (USD Billion)

7.1.2.   By Volume (KT)

7.2. Market Share & Forecast

7.2.1.   By Type

7.2.2.   By Application

7.2.3.   By Country       Germany       United Kingdom       Italy       France       Spain       Rest of Europe

8.    Asia Pacific Petroleum Resin Market

8.1. Market Size & Forecast by Value, 2020-2027

8.1.1.   By Value (USD Billion)

8.1.2.   By Volume (KT)

8.2. Market Share & Forecast

8.2.1.   By Type

8.2.2.   By Application

8.2.3.   By Country     China     India     Japan     Singapore     South Korea     Rest of Asia Pacific

9.    Latin America Petroleum Resin Market

9.1. Market Size & Forecast by Value, 2020-2027

9.1.1.   By Value (USD Billion)

9.1.2.   By Volume (KT)

9.2. Market Share & Forecast

9.2.1.   By Type

9.2.2.   By Application

9.2.3.   By Country     Brazil     Mexico     Rest of Latin America

10. Middle East & Africa Petroleum Resin Market

10.1. Market Size & Forecast by Value, 2020-2027

10.1.1. By Value (USD Billion)

10.1.2. By Volume (KT)

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Application

10.2.3. By Country      Saudi Arabia      GCC      UAE      South Africa      Rest of Middle East & Africa

11. Competitive Landscape

11.1.             List of Key Players and Their Offerings

11.2.             Market/Ranking Share Analysis

11.3.             Competitive Benchmarking, By Operating Parameters

12. Impact of Covid-19 on Petroleum Resin Market Industry

13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

13.1.             Brasken

13.2.             Cymetech (Owned by Sojitz)

13.3.             Reliance Industries

13.4.             Eastman Chemical Company

13.5.             BASF

13.6.             Dow Chemicals

13.7.             Henghe Petrochemical Co., Ltd

13.8.             Shandong ShenxianRuisen Petroleum Resins Co., Ltd

13.9.             Cepsa

13.10.          Mitsui Chemicals

13.11.          Ineos Phenol

13.12.          ExxonMobil

13.13.          Rain carbon

13.14.          Zeon Corporation

13.15.          Idemitsu

13.16.          Puyang Changyu Petroleum Resins

13.17.          Lesco

13.18.          Kolon Hydrocarbon

13.19.          PuyangTiancheng Chemical Co. Ltd

13.20.          Arakawa Chemical Industries


13.21.          Others

Market Segmentation

Scope of the Report

By Types

Ø Aliphatic C5 Resins

Ø Aromatic C9 Resins

Ø Dicyclopentadiene (DCPD)

Ø Hydrogenated hydrocarbon Resins (HHCR)

Ø C5/C9 Resins

By End Use Industry

Ø Adhesive and sealants

Ø Pressure Sensitive Adhesives (PSA)

Ø Holt Melt Adhesives (HMA)

Ø Paints and Coatings

Ø Printing Inks

Ø Rubber Compounding

Ø Tapes and Labels

Ø Others

By Region

Ø North America

Ø Europe

Ø Asia Pacific

Ø Middle East and Africa

Ø Latin America

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