Global Heavy Pyrolysis Resin Market: Overview

Heavy pyrolysis resin is a flammable viscous liquid produced primarily in ethylene plants as a byproduct during pyrolysis of mixed gasoline or gasoline and gas feedstock such as diesel, petrol, and hydrocarbon gases. It contains polycyclic aromatic hydrocarbons and aromatic hydrocarbons. Heavy pyrolysis resin is widely used in the production of carbon black, dark petroleum resins, concrete superplasticizing agents, fuel oil, inactive carbon black, paints & varnishes, and coke.

Based on grade, the global heavy pyrolysis resin market can be bifurcated into grade A (1.03 g/cm3 density) and grade B (1.04 g/cm3 density). Grade A has kinematic viscosity of 25 mm²/sec, while grade B has kinematic viscosity of 40 mm²/sec. Grade A has coking property of not less than 12%, whereas the coking property of grade B is no more than 16%. Distillate temperature for processing grade A is 180°C, while that for B is 170°C. Grade A and B are used as fuel component for heavy oil in the production of coke, carbon black, polymeric petroleum resins, and binder for briquetting.

Processing of heavy pyrolysis resin does not require complex technical solutions and expensive technological operations such as purification of resin, reprocessing from sulfur, nitrogen, and oxygen containing compounds. Rise in application of heavy pyrolysis resin in various end-user industries such as oil & gas, construction, and automotive is driving the global heavy pyrolysis resin market. Heavy pyrolysis resin has high content of aromatic and unsaturated hydrocarbons. Thus, it is widely used as a fuel oil component. Accumulation of heavy pyrolysis resin may pose serious threat to the environment. This is likely to restrain the market during the forecast period. Increase in research activities to enhance the formulation of heavy pyrolysis resin is expected to provide lucrative opportunities to manufacturers operating in the market

Global Heavy Pyrolysis Resin Market: Regional Analysis

In terms of region, the global heavy pyrolysis resin market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the leading consumer of heavy pyrolysis resin, followed by Asia Pacific and Europe. The U.S. is the leading consumer of heavy pyrolysis resin in North America, led by the rise in investment in new refinery capacity expansion in the country. The heavy pyrolysis resin market in China, India, and ASEAN in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the growth in the automotive industry in the region. The usage of heavy pyrolysis resin is gaining momentum in the manufacture of synthetic rubber, carbon black, and aromatic hydrocarbon such as benzene. Improvement in economy and increase in industrialization with strong FDI investment are estimated to fuel the heavy pyrolysis resin market in Asia Pacific.

Demand for heavy pyrolysis resin market is projected to rise at a sluggish pace in Europe due to the closure of various large refineries in the region. This is likely to adversely affect the demand and supply of fuel oil, thereby hampering the demand for heavy pyrolysis resin in the region. However, increase in efforts by the Government of Russia to upgrade refinery facilities and expand refinery operations is expected to boost the heavy pyrolysis resin market during the forecast period. Middle East & Africa expected to provide lucrative opportunities to the manufacturers of the heavy pyrolysis resin. Rise in investment by various automakers in GCC, South Africa, etc. is anticipated to provide lucrative opportunities to manufacturers of heavy pyrolysis resins. Demand for heavy pyrolysis resin market is estimated to increase moderately in Latin America due to the improvement in economic conditions and rise in import activities in the region.

Global Heavy Pyrolysis Resin Market: Key Players

Key players operating in the global heavy pyrolysis resin market are Chevron Phillips Chemical, PJSC Nizhnekamskneftekhim, SIBUR International GmbH, Belhim OJSC, and LUKOIL Group. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

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

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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