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2021 petroleum resin market value will reach 2.58 billion dollars

author£ºadmin Date£º2017/2/4 17:16:41
The global petroleum resin market is expected to grow from US $ 1.78 billion in 2016 to US $ 2.58 billion in 2021, a compound annual growth rate of 7.7%.
The market is driven by the increasing demand for end-use products such as personal hygiene items, tires, automobiles and construction. The Middle East, Africa and Latin America are expected to show strong growth over the next five years. In Saudi Arabia, Brazil and Nigeria, the growing personal hygiene market reinforces the demand for petroleum resins in these areas.
Asia-Pacific region: the largest market of petroleum resin:
The Asia-Pacific region is currently the largest market for petroleum resins. China is the region's largest consumer of petroleum resin.
The following are favorable factors driving the petroleum resin market in the Asia-Pacific region:
Petroleum resin manufacturers are mainly concentrated in the region.
The region's growing demand for commercial and industrial buildings.
Investment in the automotive sector is growing.
C5 petroleum resin: petroleum resin market, the largest proportion of the product:
Petroleum resin is divided into four main types, C5 petroleum resin, C9 petroleum resin, hydrogenated hydrocarbon resin and C5 / C9 blended petroleum resin. These are widely used petroleum resin types. In 2015, C5 petroleum resin in the value and quantity occupy the largest market share, because it is easy to produce, and cost-effective.
Adhesives and sealants: petroleum resin market, the largest application areas:
Petroleum resins are used in the fields of adhesives and sealants, printing inks, paints and coatings, rubber compounds, tapes and labels. In 2015, due to the increasing use of adhesives and sealants in the construction and bookbinding end industries, the market value and quantity of petroleum resins in the field of adhesives and sealants is higher than in other applications.