Petroleum Resin Market Size, Share, Opportunities, And Trends By Type (Aliphatic, Aromatic, Others), By Application (Paints & Coatings, Printing Inks, Adhesives, Concrete, Softening Agent, Others), By Industry Vertical (Automotive, Aerospace, Building & Construction, Rubber, Others), And By Geography - Forecasts From 2025 To 2030

Petroleum Resin Market Size:

The petroleum resin market is expected to grow from USD 3.862 billion in 2025 to USD 4.535 billion in 2030, at a CAGR of 3.27%.

Petroleum resin is a thermoplastic hydrocarbon resin that has high chemical & temperature resistance, low volatility, and is anti-aging owing to which it finds high applicability in paint & coatings and adhesives applications in the automotive sector. Furthermore, the resin has high chemical stability due to which it is applied on aircraft tires for achieving high mechanical strength and durability. Also, as a curing compound, it is used in concrete to maintain the moisture content thereby improving its strength. Rapid development in such major end users of petroleum resin is driving its market demand. For instance, according to the General Aviation Manufacturer Association’s data, in 2021, worldwide aircraft shipment stood at 2,630 units which represented an increase of 9.6% in aircraft shipment than the previous year. Furthermore, petroleum resin is used in the rubber industry as a softening agent during rubber manufacturing for improving the elastomeric hardness of end rubber products. The growing industrial demand for rubbers has led to an increase in their production output. For instance, according to the monthly NR Statistical Report, November 2022 released by the Association of Natural Rubber Producing Countries, in November, global rubber production witnessed a 2.7% growth reaching 1.426 million tons, in comparison to 1.294 million produced in 2021 for the same month.

Petroleum Resin Market Segmentation Analysis:

Based on industry vertical, the petroleum resin market is segmented into automotive, aerospace, building & construction, rubber, and others. The building & construction sector is projected to hold a decent market share during the forecast period. Petroleum resin holds excellent thermal resistance and provides rapid quick drying due to which it is used in the adhesives application in construction activities. Moreover, the resin as a curing compound is applied in concrete for strength improvement. The rise in the construction of residential & commercial buildings, and the undertaking of infrastructure projects coupled with favorable investments has increased the overall growth of the building & construction sector in major countries. For instance, according to the Australia Bureau of Statistics data, the number of residential dwellings approved in February 2022 saw 43.5% growth with the private dwelling witnessing a 16.5% rise. Furthermore, according to the Office of National Statistical Office, in August 2022, infrastructure construction saw a 5.3% increase and the overall construction output was 3.2% above the February 2020 level. With such an increase in the construction output, the demand and usage of petroleum resin for adhesives and concrete applications are also anticipated to increase, thereby stimulating the petroleum resin market growth during the forecast period.  

Petroleum Resin Market Driver:

• The surge in automotive production and sales is driving the market growth of petroleum resins.

Petroleum resin due to its rich abrasion and temperature resistance is used in automotive paints and coatings thereby acting as a performance enhancer for such products applied on automotive components. The improvement in living standards and disposable income has improved the demand for automobiles which has been further elevated by favorable government schemes & investment, thereby increasing the overall automotive production volume. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, global automotive production stood at 80.1 million units representing a 3% increase over 2020. Moreover, as per the same source, global automotive sales stood at 82.6 million units representing a 4.9% increase over 2020’s sales volume. With such significant growth in the global production and sales of automotive, the demand and usage of petroleum resin for paints & coatings application is also anticipated to increase, thereby augmenting the overall market growth during the forecast period.

The high price volatility of crude oil is anticipated to pose a challenge to the market growth of petroleum resin, as petroleum resin is driven by the polymerization of unsaturated monomers which is obtained as a by-product of crude oil.

Petroleum Resin Market Segmentation:

• By Type
  • Aliphatic
  • Aromatic
  • C5/C9
  • Hydrogenated
  • Others
• By Application
  • Adhesives & Sealants
  • Paints & Coatings
  • Printing Inks
  • Rubber Compounding
  • Tapes & Labels
  • Concrete Additives
  • Softening Agents
  • Others
• By Industry Vertical
  • Automotive
  • Aerospace
  • Building & Construction
  • Rubber & Plastics
  • Packaging
  • Textiles
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Others

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. PETROLEUM RESIN MARKET BY TYPE

5.1. Introduction

5.2. Aliphatic

5.3. Aromatic

5.4. C5/C9

5.5. Hydrogenated

5.6. Others

6. PETROLEUM RESIN MARKET BY APPLICATION

6.1. Introduction

6.2. Adhesives & Sealants

6.3. Paints & Coatings

6.4. Printing Inks

6.5. Rubber Compounding

6.6. Tapes & Labels

6.7. Concrete Additives

6.8. Softening Agents

6.9. Others

7. PETROLEUM RESIN MARKET BY INDUSTRY VERTICAL

7.1. Introduction

7.2. Automotive

7.3. Aerospace

7.4. Building & Construction

7.5. Rubber & Plastics

7.6. Packaging

7.7. Textiles

7.8. Others

8. PETROLEUM RESIN MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Application

8.2.3. By Industry Vertical

8.2.4. By Country

8.2.4.1. USA

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Type

8.3.2. By Application

8.3.3. By Industry Vertical

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Type

8.4.2. By Application

8.4.3. By Industry Vertical

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.2. Germany

8.4.4.3. France

8.4.4.4. Spain

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Application

8.5.3. By Industry Vertical

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Others

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Application

8.6.3. By Industry Vertical

8.6.4. By Country

8.6.4.1. China

8.6.4.2. Japan

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Taiwan

8.6.4.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. ExxonMobil Chemical

10.2. Kolon Industries Inc.

10.3. Arakawa Chemical Industries, Ltd.

10.4. TotalEnergies

10.5. Zeon Corporation

10.6. Eastman Chemical Company

10.7. Neville Chemical Company

10.8. Formosan Union Chemical Corp

11. APPENDIX

11.1. Currency

11.2. Assumptions

11.3. Base and Forecast Years Timeline

11.4. Key benefits for the stakeholders

11.5. Research Methodology 

11.6. Abbreviations 

LIST OF FIGURES

LIST OF TABLES

ExxonMobil Chemical

Kolon Industries Inc.

Arakawa Chemical Industries, Ltd.

TotalEnergies

Zeon Corporation

Eastman Chemical Company

Neville Chemical Company

Formosan Union Chemical Corp