Europe Hydrogenated Petroleum Resin Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The Europe Hydrogenated Petroleum Resin market is experiencing significant growth, driven by the diverse requirements of various industries. Hydrogenated petroleum resins are versatile materials derived from petroleum sources, commonly used in adhesives, coatings, inks, rubber, and other chemical products. These resins offer exceptional performance characteristics, including high thermal stability, low color, and excellent compatibility with other substances. The increasing demand for these resins across multiple sectors has fueled market expansion, making it a crucial component in several European industries.
The key driver for the growth of the hydrogenated petroleum resin market in Europe is the expanding need from industries such as adhesives, coatings, and inks. In particular, the adhesive industry is witnessing a surge in demand due to the increased use of these resins in pressure-sensitive adhesives, hot melt adhesives, and construction adhesives. These applications benefit from the resins' high adhesive strength and thermal stability, which is essential for products that must withstand varying environmental conditions.
In addition to adhesives, the coatings industry is also playing a significant role in the market's growth. Hydrogenated petroleum resins are used in industrial coatings, automotive finishes, and wood coatings, offering improved durability, color retention, and enhanced resistance to UV degradation. The rise in demand for high-performance coatings, particularly in automotive and construction sectors, has further increased the need for these resins.
The rubber industry is another key segment driving the hydrogenated petroleum resin market, with resins used in the production of tires, footwear, and rubber components. The resins improve the overall performance, hardness, and resilience of rubber products, making them more durable and efficient.
As industries continue to demand high-quality, efficient, and durable materials, the hydrogenated petroleum resin market in Europe is poised for continued growth. With applications spanning from adhesives and coatings to rubber products, the market is seeing a steady increase in adoption across various industrial sectors, with companies investing in research and development to meet the evolving requirements of these industries.
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Idemitsu
Arkema
ExxonMobil
Eastman
Buss ChemTech
Argus Media
Zeon Corporation
Dycon Chemicals
GRESIN Chemical
Higree
Kolon
Formosan Union
TRiiSO
Teckrez
Lesco Chemical
Panjin Heyun Industrial Group
Credrez
Qingdao EDSON New Material
Zhejiang Henghe Industry Group
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Hydrogenated Petroleum Resin Market
Hydrogenated Hydrocarbon Resins
Hydrogenated C5 Resins
Hydrogenated C9 Resins
Hydrogenated Dicyclopentadiene (DCPD) Resins
Adhesives
Paints and Coatings
Rubber and Tire
Inks
Plastics
Automotive
Construction
Packaging
Electronics
Consumer Goods
Solid
Liquid
Low-Grade
Medium-Grade
High-Grade
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Hydrogenated Petroleum Resin Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Hydrogenated Petroleum Resin Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Hydrogenated Petroleum Resin Market, By Type
6. Europe Hydrogenated Petroleum Resin Market, By Application
7. Europe Hydrogenated Petroleum Resin Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Hydrogenated Petroleum Resin Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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