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Hydrocarbon Resins Market Growth Outlook from 2023 to 2035

Hydrocarbon Resinsu00a0hydrocarbon resins market Hydrocarbon Resinsu00a0Low molecular weight polymers called hydrocarbon resins are made from crude oil's aliphatic C5 and aromatic C9 distillates.

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Hydrocarbon Resins Market Growth Outlook from 2023 to 2035

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  1. Hydrocarbon Resins Market to Expand at a CAGR of ~7% Assessment for the Driving Factors, Size, Revenue, Segments, Expansion, Demand, and Opportunities During 2023-2035 Global Hydrocarbon Resins Market Key Insights During the forecast period of 2023-2035, the global hydrocarbon resins market is expected to reach an estimated value of ~USD 5 billion by 2035, by expanding at a CAGR of ~7%. The market further generated a value of ~USD 2 billion in the year 2022. Major key factors propelling the growth of the hydrocarbon resins market worldwide are the growing use of hydrocarbon resins in numerous end- user sectors and the rising demand for hydrocarbon resins owing to their key characteristics. Market Definition ofHydrocarbon Resins

  2. Low molecular weight polymers called hydrocarbon resins are made from crude oil's aliphatic C5 and aromatic C9 distillates. Hydrogenation was applied to these hydrocarbon resins to improve compatibility while also enhancing smell, color, and durability. Hydrocarbon resins, which are hard or sticky materials, are created when certain unsaturated components of coal tar, rosin, or oil polymerize. Hydrocarbon resin comes in two varieties. The first classification includes basic synthetic resins such as polypropylene, polystyrene, and polyethylene. The other type of resin includes petroleum resin, cyclopentadiene resin, and terpene resin. Global Hydrocarbon Resins Market: Growth Drivers Given its widespread application in the field of roofing, painting, and other applications, the hydrocarbon resin market is predicted to be strongly influenced by the expansion of the construction sector. The market size for the construction sector was worth USD 6.5 trillion in 2020, and it is anticipated to grow to USD 14.5 trillion by 2030. In addition to this, the increasing production of hydrocarbon resin in the chemical sector is predicted to propel the market growth further over the forecast period. For instance, in 2021, the market revenue from chemical exports reached over USD 23 trillion. Further, to increase the uptake of raw materials and completed goods, chemical companies are building a solid research foundation to produce resins with outstanding pigment wetting, thermoplastic, and non-reactive characteristics, which is considered to be a major influencer factor for the market growth. The global hydrocarbon resins market is also estimated to grow majorly on account of the following: •Rising Demand for Adhesives and Sealants •Wide Utilization of Carton Boxes and Food Packaging Boxes

  3. •Increasing Adoption in the Paints and Coating Sector •Growing Usage in the Automotive Sector in the manufacturing of Car Tires and Car Mats GlobalHydrocarbon Resins Market: Restraining Factor The expansion of the hydrocarbon resin market on a global scale is predicted to be constrained by the availability of alternatives such as rosin resin, which is more cost-effective and has more advantages. Global Hydrocarbon Resins Market Segmentation ▪By Type (C9 Resin, Hydrogenated Hydrocarbon Resin, C5 Resin, and Others) ▪By Application (Printing Inks, Paints & Coatings, Tapes & Labels, Sealants, Adhesives, and Others) ▪By End-User (Automotive, Construction, and Others) Among these, the automotive segment is estimated to hold the largest market share by the end of 2035. As hydrocarbon resins are used in the manufacturing of paint and tires, the growth of the segment can be attributed to the increasing consumption of paint and coatings as well as the rising demand for tires in automotive industry. For instance, in 2021, the global market for automotive paint reached around 2,752 million liters and consumption is predicted to increase further during the forecast period owing to increasing sales and manufacturing of automobiles across the globe. Request Report Sample: https://www.researchnester.com/sample-request- 3307

  4. ▪By Region Asia Pacific hydrocarbon resins market is projected to hold the largest market share by the end of 2035. The growth of the market can be ascribed to the increasing demand for petroleum-based resins in nations including China and India, supported by the expanding infrastructure development and consumer electronics sectors in the region. It was found that, in 2019, over 50 million individuals were engaged in the construction business in China, which witnessed a boost of 20 million within 10 years. Additionally, the growing chemical sector and the rising investment in the automobile field in the region are predicted to boost market growth. The market research report on global hydrocarbon resins also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). Key Market Players Featured in the Global Hydrocarbon Resins Market Some of the key players in the global hydrocarbon resins market are TOTAL Cray Valley, Exxon Mobil Corporation, Shandong Landun Petroleum Resin Co., Ltd., Zeon Corporation, Shanghai Jinsen Hydrocarbon Resins Co., Limited, Puyang

  5. Tiancheng Chemical Co. Ltd., Eastman Chemical Company, Arakawa Chemical Industries, Ltd., Lesco Chemical Limited, Kolon Industries, Inc., and others. About us : Research Nester, which is a leading service provider for strategic market research and consulting services, aims to provide unbiased, unparalleled market insights and industry analysis. These analyses help conglomerates, executives, and industries to take wise decisions for their businesses as well as for their future marketing strategy, expansion and investment among others. We believe that our expertise in the field of market research can help businesses to expand to new horizons. Our team of research analysts can provide businesses with the right guidance at the right time, while our out of box thinking helps our clients to take wise decisions in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919

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