Rapid urbanization and surge in government infrastructural plans across the world drive the growth of the global petroleum resins market. Based on application, the adhesives and sealants segment garnered the major share in 2021. By region, on the other hand, the market across Asia-Pacific would showcase the fastest CAGR by 2031.
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A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
The global petroleum resins market was estimated at $2.8 billion in 2021 and is expected to hit $4.8 billion by 2031, registering a CAGR of 5.9% from 2022 to 2031.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The C5 resins segment contributed to more than half of the global petroleum resins market revenue in 2021, and is expected to dominate by 2031. The hydrogenated hydrocarbon resins segment, on the other hand, would showcase the fastest CAGR of 7.1% throughout the forecast period.
The Petroleum resins market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Based on end use industry, the building & construction segment held nearly one-third of the total market revenue in 2021, and is expected to dominate by 2031. The personal hygiene segment, however, would cite the fastest CAGR of 7.5s% throughout the forecast period.
Petroleum Resins Covered Market:- Eastman Chemical Company, Exxon Mobil Corporation, Innova (Tianjin) Chemical Co., Limited, Kolon Industries, Inc., Lesco Chemical Limited, Neville Chemical Company, Puyang Tiancheng Chemical Co., Ltd., Henan Anglxxon Chemical Co. Ltd., RuiSen ReSin Co. Ltd., Arakawa Chemical Industries, Ltd., Shanghai Jinsen Hydrocarbon Resins Co., Ltd and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Petroleum resins market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Petroleum resins market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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