Hydrocarbon resins are defined as glass-like oligomers, which are produced by polymerization of by-product streams such as aliphatic (C5), aromatic (C9), DCPD (dicyclopentadiene), which derives mostly from the cracking of petroleum hydrocarbons for the production of ethylene. These hydrocarbon resins can be later hydrogenated to improve color, odor, and stability as well as modifying compatibility. These are brittle or gummy materials prepared by the polymerization of several unsaturated constituents of coal tar, rosin, or petroleum. These are inexpensive and have wide applications such as in rubber and asphalt formulations and in coating and caulking compositions. Properties such as high thermal stability, light color, polymer compatibility, low odor, and excellent cold resistance also make them ideal for a wide range of end-use applications.
Increasing usage of hydrocarbon resins in building and construction is a major driver augmenting the hydrocarbon resins market. Rising demand for hydrocarbon resins in printing inks, sealants, paints, specialty tapes, repositionable tapes, packaging tapes, and permanent labels is propelling the hydrocarbon resins market. Increasing demand for hydrocarbon resins in adhesives due to their properties such as good adhesion, improved adhesive bond strength, acid resistance, alkali resistance, and water resistance along with the increasing usage in book binding end-use industries are propelling the hydrocarbon resins market during the forecast period. Increasing regulations on a global level and constant changes as well as increasing shifts toward environment and sustainability trends throughout the value chain are some factors hampering the hydrocarbon resins market.
The global hydrocarbon resins market is segmented based on type, applications, end-use industry, and geography.
Based on type, the global hydrocarbon resins market is segmented into C5 Petroleum resins, C9 Petroleum resins, C5/C9 petroleum resins, and hydrogenated hydrocarbon resins.
In terms of applications, the global hydrocarbon resins market is segmented into adhesives and sealants, printing inks, rubber compounding, paints and coatings, tapes and labels, and others.
Based on end-use industry, the global hydrocarbon resins market is segregated into building & construction, personal hygiene, tires, automotive, and others.
In terms of geography, the global hydrocarbon resin market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa.
In Asia Pacific countries such as China, India, and Japan are witnessing rapid expansion of the hydrocarbon resins market due to the increase in building and construction in the region. Additionally, rising demand for vehicles due to the increasing production of passenger cars, light commercial vehicles, and heavy commercial vehicles is boosting the hydrocarbon resins market in Asia Pacific nations. Europe follows Asia Pacific in terms of expansion of the hydrocarbon resin market due to the presence of major automotive companies in the region.
Key players operating in the global hydrocarbon resins market include Eastman Chemical Company, ExxonMobil Corporation, Shandong Landun Petroleum Resin Co., Ltd., Puyang Tiacheng Chemical Co., Ltd., and Shanghai Jinsen Hydrocarbon Resins Co., Limited.
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
- 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.
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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.
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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.