Global Petroleum Resins Market Poised for Significant Growth
The Global Petroleum Resins Market is on a robust growth trajectory, driven by increasing demand across various end-use industries such as automotive, construction, and packaging. As of 2025, the market is valued at approximately $3.44 billion and is projected to reach $5.75 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
Competitive Landscape
The petroleum resins industry is characterized by the presence of several key players, including ExxonMobil Corporation, Eastman Chemical Company, Total Cray Valley, Kolon Industries, and Arakawa Chemical Industries. These companies are actively engaging in strategic initiatives such as mergers and acquisitions, partnerships, and product innovations to strengthen their market positions.
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Regional Demand Highlights
The Asia Pacific region dominates the petroleum resins market, attributed to rapid industrialization, urbanization, and increasing investments in end-use industries. North America and Europe also hold significant market shares, driven by high disposable incomes and technological advancements in these regions.The Middle East and Africa region is witnessing significant developments in the petroleum resins industry. Notably, Abu Dhabi National Oil Company (ADNOC) and Austria’s OMV have agreed to merge their petrochemical assets, forming Borouge Group International, valued at over $60 billion. This merger positions Borouge as a leading player in the polyolefins sector, which includes various plastic products integral to modern life
Segmentation Analysis
by Product
C5
C9
C5/C9
Hydrogenated
Due to the benefits of aliphatic C5 resins, including improved glutinosity, good anti-aging qualities, fluidity, low volatility, and reduced odor, the C5 resins sector dominated the petroleum resin market in 2018. Also, because of its increasing application in heavy end-use sectors, the C5/C9 category is anticipated to increase quickly. Furthermore, because of its dependable and environmentally benign character, hydrogenated resin is expected to expand at the fastest rate.
by Application
Paints
Adhesives
Printing Inks
Rubber
Tapes
by End User
Automotive
Construction
Packaging
Consumer goods
Personal hygiene
Others
Because petroleum resins are used in rubber compounding to improve the compound’s modulus and chipping resistance, the automotive industry dominated the petroleum resins market in 2018 and is expected to maintain its leadership position during the projection.
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Key Market Participants:
1. Arakawa Chemical Industries
2. Eastman Chemical Company
3. Exxon Mobil Corporation
4. Kolon Industries
5. Lesco Chemical Limited
6. Zeon Corporation
7. Seacon Corporation
8. Neville Chemical Company
9. Total Cray Valley
10. Anglxxon Chemical Co.
11. Idemitsu Kosan Co.,Ltd
12. Puyang Changyu Petroleum resins Co., Ltd
13. BASF
14. The Dow Chemical Company
15. Cray Valley
16. Innova
17. Chemical Co., Limited
18. Shandong Landun Petroleum Resin Co., Ltd.
19. Shanghai Jinsen Hydrocarbon Resins Co., Limited
20. Sojitz Corporation
21. QINGDAO HIGREE CHEMICAL CO., LTD
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