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| Global C5 Resins Market |
The global C5 Resins Market is estimated to be valued at US$ 861.82 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
C5 resins are types of hydrocarbon resins produced from petroleum fractions in
which the predominant hydrocarbon is pentane. They are mainly utilized as
modifiers in PVC, tires, construction, inks and coatings applications. C5
resins possess good water, solvent and chemical resistance as well as excellent
mechanical and processing properties. They impart properties like gloss,
flexibility, adhesion and toughness to the end products. Rising demand for
materials with enhanced mechanical and physical properties from major end-use
industries is expected to drive the demand for C5 resins over the forecast
period.
Market key trends:a
The growing petrochemical industry, especially in Asia Pacific, plays a crucial
role in driving the growth of Global
C5 Resins Market. According to India Brand Equity Foundation (IBEF),
India's petroleum products consumption is expected to grow by 5.5% year-on-year
to 222.6 Million Tonnes (MT) by 2025. This is leading to a substantial increase
in the availability of C5 fractions, which are the key raw materials for
production of C5 resins. Furthermore, continuous investments in capacity
expansion of hydrocarbon resin producers to cater to the rising demand from
tire and construction industries is another major trend in the market. For
instance, in 2021, Arakawa Chemical Industries Ltd announced plans to
strengthen its production capacity of C5 resins by investing 8 billion yen at
its facilities in Japan.
Porter’s Analysis
Threat of new entrants: The C5 Resins market already has global established
players supplying resins for various applications. The requirement of high
capital investment for manufacturing facilities poses a barrier to new players
entering the market.
Bargaining power of buyers: The buyers have moderate bargaining power due to
the availability of product substitutes and established suppliers in the market.
Bargaining power of suppliers: The suppliers have moderate bargaining power due
to the availability of substitute raw materials and less switching costs for
buyers.
Threat of new substitutes: Substitutes of C5 resins are available but require
high costs for adoption. The availability of product variants provides less
threat from substitutes.
Competitive rivalry: Arakawa Chemical Industries Ltd
Key Takeaways
The global C5 Resins market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period,
due to increasing demand from adhesive applications. Regional analysis
Asia Pacific dominates the global C5 Resins market and is expected to witness
the highest growth over the forecast period. Countries like China, India,
Japan, and South Korea are major consumers and producers of C5 Resins in the
region. Key players
Key players operating in the C5 Resins market are Arakawa Chemical Industries
Ltd, Cray Valley, DuPont, Eastman Chemical Company, ENEOS Holdings Inc., Exxon
Mobil Corporation, Henan Anglxxon Chemical Co. Ltd, Kolon Industries Inc.,
Lesco Chemical Limited, Neville Chemical Company, Puyang Ruisen Petroleum
Resins Co. Ltd, Seacon Corporation, Shanghai Jinsen, Hydrocarbon Resins Co.,
Limited, Zibo Luhua Hongjin New Material Co. Ltd, and ZEON CORPORATION.
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