Global C5 Resin Market - Segmented by Application and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global C5 resin market is expected grow at a significant rate during the forecast period, majorly driven by the increasing demand from adhesives and paint & coatings applications from construction and automotive industry.
C5 resins are thermoplastic resins, obtained from polymerizing unsaturated aliphatic petroleum feedstock. Aliphatic Resins are produced from the liquid C5 piperylene feedstock and can be polymerized to a hard resin using a Lewis acid catalyst by selecting an appropriate temperature and pressure to obtain the desired softening point and molecular weight. Owing to their properties, these resins are used in paints, printing inks, adhesives and rubber compounding applications.
Rapid Increase in Demand for Hot-Melt Adhesives
C5 resins are used pressure sensitive adhesives tapes & labels, hot melt adhesives for nonwoven product due to their very good adhesiveness, resistance to acid, alkaline and water. The demand for hot-melt adhesives is on rise due to the growth in the paper, board and packaging industry. The demand for hot-melt adhesives mainly arises from this sector, owing to book binding activities, and increasing demand for paper packets. Asia-Pacific region is dominant user of hot-melt adhesives with majority of consumption coming from China, India, ASEAN countries due to the rapid growth in footwear, packaging, electronics and furniture industry.
Adhesive & Sealants to Dominate the Market
C5 Resins are used in adhesives as these resins have very good adhesiveness; they can increase the adhesiveness of adhesives, resistance to acid, alkaline and water. These are widely used as tackifiers in the adhesives to increase the adhesion. These resins also reduces the production cost. These are majorly used in hot-melt adhesives and pressure-sensitive tapes and labels. The increase of hot melts adhesives in automotive, healthcare and paper, board & packaging are increasing rapidly in the Asia-Pacific, Europe, and North America region. The usage of pressure sensitive tapes and labels are also growing majorly in the packaging and medical industry which is also contributing to the adhesives market which, in turn, is positively affecting the C5 resins market.
Asia-Pacific dominating the C5 Resin Market
In Asia-Pacific, China is the leading producer of paints & coatings across the globe. The country accounted to 18.99 million tons coatings production in 2016, which is close to 29.42% of the global coatings output, with a growth rate of 7.2%. In the first half of 2017, the total coatings output increased by 10.5% to 641 thousand metric ton. It currently produces more than half of the Asia-Pacific coatings, and is home to more than 10,000 paint companies, among which local producers occupies more than half of the domestic paint market share. Moreover, India has over 550 manufacturers currently engaging in the printing inks business. Huber Group, DIC India, Siegwerk, Sakata, and Flint and Toyo are among the leading players in the printing inks market, comprising around 75% of the total market share. The production of natural rubber in India has rapidly increased in the last two years. The natural rubber production registered a growth rate of 23% in 2016-17, with the production of 690 thousand tons. These factors will largely contribute to the demand for C5 resins in the region.
Major Players: Arakawa Chemical Industries, Eastman Chemical Company, Henan Anglxxon Chemical Co.,Ltd. Kolon Industries, Inc., Total Cray Valley, Seacon Corporation, and Neville Chemical Company, among others.
Reason to Purchase this Report
To understand the impact of various applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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