Global C9 Hydrocarbon Resin Market Size worth USD 23.50 Billion By 2033 | CAGR of 6.38%
Category: Chemicals & MaterialsGlobal C9 Hydrocarbon Resin Market Size worth USD 23.50 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global C9 Hydrocarbon Resin Market Size is Expected to Grow from USD 12.66 Billion in 2023 to USD 23.50 Billion by 2033, at a CAGR of 6.38% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 115 Market data tables and figures & charts from the report on the" Global C9 Hydrocarbon Resin Market Size, Share, and COVID-19 Impact Analysis, By Type (Modified C9 Resins and Unmodified C9 Resins), By Application (Adhesives, Coatings, Inks, and Rubber Compounding), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/c9-hydrocarbon-resin-market
A type of synthetic resin derived from petroleum, C9 hydrocarbon resins are manufactured and traded in the C9 hydrocarbon resin market. The market for C9 hydrocarbon resins is dominated by aromatic chemicals, which are typically derived from the C9 segment of the petrochemical industry. The manufacturing, marketing, and distribution of C9 hydrocarbon resins serve industries that require these specific characteristics in their products. Adhesive and sealant demand, the growth of the automotive sector, and the expansion of the packaging industry are the factors driving the C9 hydrocarbon resin market. The market's growth is primarily driven by the growing use of C9 hydrocarbon resin in the adhesive and sealant industry. The need for high-performance adhesive technologies, which is further emphasized by lightweight vehicle designs, is driving the market expansion for C9 hydrocarbon resins. The demand for packaging materials is mostly driven by e-commerce and the expansion of consumer goods. However, the price volatility of raw materials is one of the main restrictions, and it can have a substantial effect on production costs and profitability.
The modified C9 resins segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the C9 hydrocarbon resin market is classified into modified C9 resins and unmodified C9 resins. Among these, the modified C9 resins segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Modified C9 resins are frequently used in advanced industries including packaging, construction, and automotive by adding extra raw components or modification procedures that increase their compatibility with polar substrates and lessen brittleness.
The adhesives segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the C9 hydrocarbon resin market is divided into adhesives, coatings, inks, and rubber compounding. Among these, the adhesives segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. In the packaging, automotive, and construction industries, adhesive resins improve the curing time, flexibility, and bonding strength of adhesives.
North America is estimated to hold the largest share of the C9 hydrocarbon resin market over the forecast period.
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North America is estimated to hold the largest share of the C9 hydrocarbon resin market over the forecast period. These resins are widely used in the region's well-established automotive and construction industries, with a focus on high-performance materials to meet industry standards. Further, the increased need for sustainable and eco-friendly solutions contributed to driving the market.
Asia Pacific is predicted to have the highest CAGR growth in the C9 hydrocarbon resin market over the forecast period. A substantial consumer base and favorable government policies that promote industrial development also contribute to the market's expansion in the region. Asia Pacific is primarily driven by rapid industrialization, infrastructure expansion, and urbanization.
Major key players in the C9 hydrocarbon resin market include Eastman Chemical Company, Fuxun Huaxing, Total Cray Valley, Zeon Corporation, Puyang Changyu, Kolon Industries, Inc., Jinlin Fuyuan, Lesco Chemical Limited, Daqing Huake, Arakawa Chemical Industries, Ltd., ExxonMobil Corporation, Formosan Union, Neville, Zibo Luhua, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the C9 hydrocarbon resin market based on the below-mentioned segments:
Global C9 Hydrocarbon Resin Market, By Type
- Modified C9 Resins
- Unmodified C9 Resins
Global C9 Hydrocarbon Resin Market, By Application
- Adhesives
- Coatings
- Inks
- Rubber Compounding
Global C9 Hydrocarbon Resin Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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