Petroleum Resins Market, By Type (Aliphatic C5 Resins, Aromatic C9 Resins, Hydrogenated Hydrocarbon Resins, and C5/C9 Resins), By Application (Adhesive and Sealants (Pressure Sensitive Adhesives (PSA) and Hot Melt Adhesives (HMA)), Paints and Coatings, Printing Inks, Rubber Compounding, Tapes and Labels, and Others), By End User (Building and Construction, Tire Industry, Automotive, Personal Hygiene, Consumer Goods and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Trends, Analysis and Forecast till 2034

Petroleum Resins Market Size was valued at USD 4.66 Billion in 2024 and is projected to grow at a CAGR of 4.3% to reach USD 6.83 Billion by 2034.

Petroleum resins are low-density materials and are obtained as by product from petroleum cracking. Petroleum resins are manufactured by the polymerization process of alkenes, alkynes and aromatic compounds obtained from the distillation of heavy hydrocarbon feedstock. These are also known by hydrocarbon resins. Petroleum resins have wide range of applications such as adhesives, sealants, paints, coatings and inks, rubber and plastic compounding industries and others.

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Petroleum resins have excellent property of high adhesion at high temperature and pressure. This is major factor which drive the growth of the petroleum resins market. The increasing demand for petroleum resins from hot melt adhesives is also expected to drive the growth of the petroleum resins market. The application of petroleum resins in various end user industries such as paints, coatings and inks, adhesives and sealants, chemical processing and polymerization leads to increasing demand is also boost for market growth. However, high price of feedstock of the petroleum resins restrains the growth of the market. The feedstock for petroleum resins is naphtha, which is derived from crude oil. So, prices of these petroleum-based resins are influenced by volatility in prices of crude oil.

Petroleum resins market has been segmented on the basis of type, application, end user and region.

On the basis of type, the petroleum resins market has been segmented into aliphatic C5 resins, aromatic C9 resins, hydrogenated hydrocarbon resins, and C5/C9 resins. Based on application, segments of the petroleum resins market are adhesive and sealants (pressure sensitive adhesives (PSA) and hot melt adhesives (HMA)), paints and coatings, printing inks, rubber compounding, tapes and labels, and others. Based on end users, the petroleum resins market is divided into Building and Construction, Tire Industry, Automotive, Personal Hygiene, Consumer Goods and Others.

Regional Insights:

On the basis of region the petroleum resins market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Among these, Asia Pacific dominates the market owing to the growing demand for resins in construction, automotive, packaging, and others. The “Make in India” scheme which was implemented by the Indian Government leads major industries to witness a significant growth. The North American region is growing market due to the increasing demand for petroleum resins in construction, packaging and automobile sectors. The high disposable income and rising investments in the end-use industries leads to drive the market demand during the forecast period in North America region.

The key players operating in the petroleum resins market includes Exxon Mobil Corporation, Eastman Chemical Company, KOLON Industries Inc., Arakawa Chemical Industries Ltd., Total S.A., Mitsui Chemicals Inc., Idemitsu Kosan Co.,Ltd, Dow Chemical Company, Cray Valley, and Neville Chemical Company.