Hydrocarbon Resins Market Overview:
The Hydrocarbon Resins Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Hydrocarbon Resins Market, as well as the causes for variances in the industry’s growth in different regions.
The Hydrocarbon Resins Market is expected to reach US$ 2.89Bn in 2029, with a CAGR of 6.8% for the period 2022-2029, because of rising concentration of manufacturers’ towards the production of the economic range of products.
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Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Hydrocarbon resins are glass-like oligomers created by polymerizing by-product streams including aliphatic (C5), aromatic (C9), and DCPD (dicyclopentadiene) derived mostly from the cracking of petroleum hydrocarbons for ethylene synthesis. These hydrocarbon resins can be hydrogenated to improve colour, smell, and stability while also affecting compatibility. Hydrocarbon resins are brittle or sticky substances made by polymerizing several unsaturated components of coal tar, rosin, or petroleum. As a result, in the foreseeable term, C5 and C9 are expected to lead the market.
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• The biggest players in the Hydrocarbon Resins Market are as follows:
• Eastman Chemical Company
• Exxon Mobil Corporation
• Total SA (Cray Valley)
• KOLON Industries Inc.
• Lesco Chemical Limited
• ZON CORPORATION
• Arakawa Chemical Industries Ltd.
• Shadong Landun Petroleum Resin Co., Ltd.
• Puyang Tiacheng Chemcal Co., Ltd.
• Shanghai Jinsen Hydrocarbon Resins Co, Ltd.
• Neville Chemical Company
• Cray Valley
• RÜTGERS Group
• Qingdao Bater Chemical
• Qingdao Eastsun New Materials Corporation
• MITSUI CHEMICALS AMERICA
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Hydrocarbon Resins Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Hydrocarbon Resins Market:
End-user industries where Hydrocarbon Resins Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Hydrocarbon Resins Market manufacturers, influencing the development of the Hydrocarbon Resins Market in 2020. End-user business demand for Hydrocarbon Resins Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Hydrocarbon Resins Market Report are:
- In 2021, which segment held the highest proportion of the Hydrocarbon Resins Market?
- What is the Hydrocarbon Resins Market’s competitive landscape?
- What are the primary drivers assisting the Hydrocarbon Resins Market growth?
- Which region has the most market share in the Hydrocarbon Resins Market?
- What will be the Hydrocarbon Resins Market’s CAGR throughout the projected period?
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