COVID-19 Impact on C5 Resin Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the C5 resin market.
Key Drivers and Restraints of C5 Resin Market
- C5 resin have major applications in adhesive & sealant applications. C5 resin provides good adhesion and promote tack in hot-melt and pressure-sensitive adhesives. It is compatible with most base polymers, polymer modifiers, and antioxidants. Increase in demand for C5 resin in various adhesives & sealants applications is expected to fuel the global C5 resin market in the next few years.
- Rise in demand for C5 resin in paints & coatings application is expected to create significant opportunities for the C5 resin market in the near future. C5 resin has an extensive range of applications as a modifier for paints and printing inks, and as a tackifier for adhesives and pressure sensitive adhesive, when used in combination with various types of resins. Wide range of applications of C5 resin in various industries is expected to boost the C5 resin market in the near future.
C5 Resin: Form Segment
- In terms of form, the global C5 resin market can be segmented into flake, powder, and others
- The powder segment of the global C5 resin market is projected to hold major share during the forecast period. The powder form of C5 resin is used in various applications including hot melt adhesives, sealants, coatings, bookbinding, rubber and plastic compounding, and wax blends. Rapid growth in adhesives & sealants, printing inks, paints & coatings industries, especially in emerging countries, is expected to augment the powder form segment.
- The flake form is projected to follow the powder form segment during the forecast period. The flake form of C5 resin is used in elastomers for the production of economic pressure-sensitive adhesives, mastics, and sealants based on styrene-butadiene rubber where color and heat stability are not critical. High demand for flake form of C5 resin in the printing inks industry is driving the global C5 resin market.
C5 Resin: Application Segment
- Based on application, the global C5 resin market can be segmented into paints & coatings, printing inks, rubber, adhesives & sealants, and others
- The adhesives & sealants segment is projected to gain higher share of the global market during the forecast period. C5 resin is used in the production of hot melt adhesives, pressure sensitive adhesives, and other adhesives. Resins play an important role in the production of adhesives as they increase the tackifier effect. Addition of petroleum resin to adhesives and pressure-sensitive tapes can improve adhesive adhesion, acid resistance, alkali resistance, and water resistance while also lowering production costs. C5 hydrocarbon resin is soluble and stable; and is used in producing hot melt adhesives for nonwoven product construction based on styrene-butadiene-styrene (SBS) block copolymers. Hence, wide usage of C5 resin in the adhesives & sealants applications is expected to drive the C5 resin market during the forecast period.
- The paints & coatings segment is projected to hold key share of the global C5 resin market in the near future. C5 resin is used for hot melt road marking paints, which enhance hardness, tenacity, and adhesive force of paint materials.
Asia Pacific to Hold Leading Share of C5 Resin Market
- In terms of region, the C5 resin market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global C5 resin market, followed by Europe and North America, during the forecast period. This can be ascribed to growth in investments in prominent applications including paints & coatings. Growth in demand for printing inks in developing countries such as China, Japan, South Korea, and India is propelling the demand of C5 resin in these countries. Advancement of emerging technologies is also estimated to fuel the market in developing region of Asia Pacific during the forecast period.
- Demand for C5 resin in paints and coatings in North America and Europe is projected to rise at a rapid pace in the near future
Key Manufacturers Operating in C5 Resin Market
The C5 resin market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the C5 resin market include:
- Arakawa Chemical Industries Ltd
- Cray Valley
- Eastman Chemical Company
- ENEOS Holdings Inc.
- Exxon Mobil Corporation
- Henan Anglxxon Chemical Co.,Ltd
- Kolon Industries, Inc.
- Lesco Chemical Limited
- Neville Chemical Company
- Puyang Ruisen Petroleum Resins Co., Ltd
- Seacon Corporation
C5 Resin: Research Scope
C5 Resin Market, by Form
C5 resin Market, by Application
- Paints & Coatings
- Printing Inks
- Adhesives & Sealants
Global C5 resin Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
C5 Resin: Introduction
- C5 resin is made from C5 piperylene and its derivatives. The most important ones are cis/trans 1,3-pentadienes, 2-methyl-2-butene, cyclopentene, cyclopentadiene, and dicyclopentadiene. These monomers are polymerized to oligomeric resins with low to high softening point using Lewis acid catalysts. C5 resins are aliphatic in nature and are, therefore, fully compatible with natural rubber, most olefins (LDPE), and many synthetic elastomers of low polarity. They are available in a wide range of molecular weights (MW) and softening points (solid grades 85 - 115°C and liquid grades 5 - 10°C) and provide outstanding tack. They also have a light yellow to light brown color and possess excellent heat stability.
- C5 resins are primarily used as tackifiers for predominantly aliphatic polymers such as natural rubber, styrene-isoprene-styrene block copolymers, styrene-ethylene butylene-styrene block copolymers, amorphous polyolefins, polyethylene, butyl rubber, EPDM rubber, and petroleum waxes due to their aliphatic chemical nature. They are used in the production of pressure sensitive adhesives tapes and labels, hot melt adhesives for nonwoven product assembly, modified wax compounds, hot melt road marking compounds, rubber compounding, and paint and coatings applications.