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C5 Resin Market Overview
C5 Resin Market size is expected to be
valued at $450.1 million by the end of the year 2026 after growing at a CAGR of 4.1%
during the forecast period from 2021-2026. The increase in demand for hot melt adhesives
in the packaging industry is highly driving the C5 resin market. Significant
growth in the construction industry is also contributing to the increase in
need and demand for C5 Resin. Industry-led promotion of specific grade
applications are also driving the C5 resin market. Aliphatic resin is also used
as a synthetic adhesive in bonding wood particles and various other applications.
Furthermore, hydrocarbon resins/petroleum resin, a C5 resin is also used in the
paint, adhesives and printing inks. The increase in the application of products
like paints and adhesives is driving the demand for C5 resin market.
COVID-19 Impact
The C5 Resin market has been
affected hugely by the impact of the global pandemic Covid-19. The market has
been disrupted in terms of production and demand, since there has been a
complete shutdown of various industries owing to the pandemic. This has led to
the disruption between supply chain and market. It also has financial impact on
firms and companies in the market, which is set to ease out by the year ending
2021.
Report Coverage
The report: “C5 Resin Market – Forecast (2021-2026)”, by IndustryARC, covers an
in-depth analysis of the following segments of the C5 Resin Industry.
By Material Type: Petroleum,
Aliphatic, Hydrogenated Hydrocarbon,
Polyurethane, Maleic and Alkyd.
By Application: Paints &
Coatings, Adhesives and Sealants, Printing Inks, Plastic Films, Rubber
Compounding, Tapes, Labels and Others.
By End-Use Industry: Construction Industry, Tire Industry and
Others.
By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK,
France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe),
APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia,
Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest
of South America) and RoW (Middle East and Africa).
Key Takeaways
- Asia-Pacific market held the largest share in the C5 Resin market owing to the growing construction industry especially in major countries like China, India and Japan.
- The increase in use of hot melt adhesives in industries such as automotive industry, healthcare industry and paper industry is driving the C5 resin market.
- The extensive use of pressure sensitive tapes and labels in the packaging industry and medical industry is contributing to the growth of C5 Resin market.
FIGURE: C5 Resin Market Revenue, 2020-2026 (US$ Million)
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C5 Resin Market Segment Analysis – By Material Type
Hydrogenated Hydrocarbon resins segment
held the largest share in the C5 Resin market in the year 2020. The increase in
use of hydrocarbon resin can be linked to the fact that it provides various
applications ranging from rubber and asphalt formations to coating and caulking
compositions. The rising demand for hydrocarbon resin in printing inks,
sealants, paints, specialty tapes, repositionable tapes, packaging tapes and
permanent tapes is fueling the growth of C5 resin market. Hydrocarbon resins
provide quick energy and is moderately reliable. Hydrocarbon resins are cheaper
and therefore is driving the C5 resin market.
C5 Resin Market Segment Analysis – By Application
Adhesives and Sealants segment held the largest share in the C5 Resin market in the year 2020 with a CAGR growing at 4.2% during the forecast period 2020-2026. C5 Resin is hugely used in adhesives and sealants, as they enhance the adhesiveness quality, increases resistance to acid, alkaline and water. C5 are largely used in adhesives as tackifiers to increase the adhesion and tackiness of the adhesives and sealants. The use of C5 resin also helps in reducing the overall production cost, which makes it economical and affordable to use. Therefore, it is driving the adhesives and sealants segment in the C5 resin market.
C5 Resin Market Segment Analysis – By End-Use Industry
Construction Industry segment held
the largest share of more than 30% in the C5 Resin market in the year 2020. C5 is extensively
used in applications such as paints, coatings, adhesives, sealants etc., which
is hugely used in the construction industry. The increase in the number of activities
in the building and construction sector is increasing the need and demand for
applications like paint, coatings and adhesives & sealants The construction
industry in the US is expected to reach US$4,814million in the year 2021, which
is expected to drive the C5 market hugely in the region.
C5 Resin Market Segment Analysis – By Geography
Asia-Pacific region held the
largest share in the C5 Resin market in the year 2020. Asia Pacific region was
the largest producer of paints and coatings in the year 2019. The increase in
use of paints in countries like China, India and Japan has driven the C5 resin
market in the Asia Pacific region. The paint industry in China witnessed a
revenue of US$83.3 million in the year 2019. C5 resin is extensively used in
the production of rubber. The rubber manufacture in India in the year amounted
to 74000 tonnes, which is further driving the C5 resin market in the Asia-Pacific
region.
C5 Resin Market Drivers
Growing need in construction and manufacturing sector
The increase in the need for C5 Resin in construction industry is hugely driving the C5 resin market. The construction sector in India is expected to record a CAGR of 15.7% and reach US$738.5 billion by 2022, which is expected to fuel the growth of C5 Resin market. C5 Resin is extensively used in construction applications such as sealants, paintings etc., which is increasing the scope of C5 resin in the construction sector. According to the World Bank, the cost of expenditure in the construction industry across the world was estimated to reach US$11.9 trillion in the year 2020, which is an increase of 4.2% as compared to the previous year expenditure. This will further increase the demand for C5 resin market.
Growth in the packaging industry
C5
Resin is used in pressure-sensitive tapes and labels in the packaging industry
and medical industry. The global packaging industry is expected to reach US$423
million by the year 2022, which is further set to drive the C5 resin market. C5
resin helps in enhancing the adhesion properties that aid in increasing the
quality of tapes and labels, therefore contributing to the growth of C5 resin
market. According to the recent data from World Packaging Organization (WPO), a
global organization and regulatory body of the packaging industry, the annual
turnover of the global packaging industry crossed the value of US$500 billion
during the year 2019.
C5 Resin Market Challenges
Replacement by Rosin resins
Rosin
resins are generally cheaper and affordable. They are extracted from pines and
other plans which makes it an easier process to obtain. Rosins are more natural
and is therefore economical. Rosins also have other advantages such as
increasing the friction capacity in several fields which is usually not offered
by C5 resins. This is one of the biggest challenges faced by the C5 resin
market.
C5 Resin Market Industry Market Landscape
Acquisitions/Technology Launches
- In July 17, 2020, Zeon Corporation developed a new product called ZEOCOAT, based on Zeon Corporation’s COP technology which can be cured at extreme low temperatures such as 180°C.
- In February 07, 2020, Total Cray Valley introduced a new product called Wingstack 102, which is an aliphatic resin with a high softening point and a lower molecular weight distribution than a typical hydrocarbon resins with 100°C.
Relevant Reports
Resin Capsules Market – Forecast (2020 - 2025)
Report Code: CMR 29006