Petroleum resins market seen reaching $4 billion by 2028

A new Allied Market Research report says the global petroleum resins market is on track to grow from $2.5 billion in 2018 to $4.0 billion by 2028, driven by construction, packaging and personal hygiene demand. Asia-Pacific remains the largest regional market, while C5 resins and adhesives and sealants lead key segments.

Why it matters: - Petroleum resins are used in adhesives, sealants, paints, coatings, rubber compounding and printing inks, so demand tracks activity across construction, packaging, automotive and consumer goods. - The market’s projected rise to $4.0 billion by 2028 points to steady demand for materials that improve bonding, durability and coating performance. - Growth in baby hygiene products and food packaging adds consumer-driven demand beyond industrial uses.

What happened: - Allied Market Research published a report on the global petroleum resins market covering resin type, application, end-use industry and region for 2023-2028. - The report values the market at $2.5 billion in 2018 and projects it will reach $4.0 billion by 2028. - The forecast implies a 5.2% compound annual growth rate. - The report identifies the building and construction sector as the largest end-use industry in 2018. - The report says Asia-Pacific accounted for more than half of global revenue in 2018 and will remain the largest regional market through 2028. - Download sample pages of the research overview

The details: - Petroleum resins, also called hydrocarbon or petrochemical resins, are synthetic polymers made from petroleum-derived C5, C9 and dicyclopentadiene fractions. - The materials are used in adhesives, sealants, paints, coatings, rubber compounding, printing inks and specialty applications. - Market drivers include construction demand, consumer spending on baby hygiene products, adoption of hydrogenated hydrocarbon resins in food packaging, and infrastructure and urban development. - Fluctuating raw material prices remain a challenge because they can raise production costs and pressure profitability. - C5 resins held the largest market share in 2018, with more than half of global revenue. - Hydrogenated hydrocarbon resins are projected to grow the fastest, at a 5.4% CAGR, driven by food packaging and specialty adhesives. - Adhesives and sealants were the largest application segment in 2018, accounting for nearly one-third of revenue. - Paints and coatings are projected to post the fastest application growth, with a 5.5% CAGR through 2028. - The report says petroleum resins improve gloss, hardness, water resistance, chemical resistance and overall coating performance. - Construction uses these resins in adhesives and sealants for flooring, roofing, windows, doors and other building materials. - The personal hygiene segment is expected to grow the fastest among end-use industries, at a 5.7% CAGR, supported by higher disposable incomes and healthcare spending. - Asia-Pacific’s growth is tied to industrialization, manufacturing expansion, infrastructure investment and urbanization in China, India and Southeast Asia. - The report lists Arakawa Chemical Industries, Exxon Mobil Corporation, Henan Anglxxon Chemical Co. Ltd., Innova (Tianjin) Chemical Co. Ltd., Kolon Industries, Lesco Chemical Limited, Neville Chemical Company, Puyang Tiancheng Chemical Co. Ltd., Ruisen Resin Co. Ltd. and Synthomer Plc as key players. - The companies are pursuing product innovation, partnerships, capacity expansion, joint ventures, acquisitions and new product launches. - Access the statistical data and graphs

Between the lines: - Construction remains the anchor market, but the fastest growth is coming from consumer and specialty applications. - The shift suggests petroleum resins are becoming more important in higher-margin uses like food packaging and specialty adhesives. - Raw material volatility could limit how much of the forecast growth turns into profit for producers.

What's next: - The market is expected to keep expanding through 2028 as infrastructure investment, urbanization and packaging demand continue. - Hydrogenated hydrocarbon resins and paints and coatings should outpace the broader market. - Asia-Pacific is likely to stay the main growth engine as manufacturing and construction activity remain strong.

The bottom line: - Petroleum resins are on a steady growth path, with construction still leading today and packaging, coatings and personal hygiene shaping the next phase of demand.