Hydrocarbon Resins Market to Generate Huge Revenue 2030
Posted by Divakar on December 9th, 2020
In recent years, high growth has been witnessed of adhesives & sealants and paints & coatings industries. Increased use of hydrocarbon resins in the manufacturing of these products has surged market growth. With growth in these industries and production innovation, the global hydrocarbon resins market is anticipated to progress at a healthy growth rate over the next decade.
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The global hydrocarbon resins market is estimated to expand at a CAGR of around 7% by value during the forecast period of 2020–2030.
Key Takeaways from Hydrocarbon Resins Market Study
“Increased demand and application range of hydrocarbon resins and distinctive properties of each type are anticipated to bolster demand over the coming years. Competition in the global market is anticipated to intensify with increasing number of regional players and growing demand for hydrocarbon resins,” says a PMR analyst.
Market Landscape Continues to Remain Moderately Fragmented
The competitive landscape in the global hydrocarbon resins market is competitive, with moderate fragmentation at regional and domestic levels. Tier-1 players account for more than one-third of the total market share. Key players are focused on capturing profitable growth through collaborations with end-use customers and continuing to meet or exceed targets through continued operational excellence.
Hydrocarbon Resins Market: Conclusion
The global hydrocarbon resins market is occupied by a number of manufacturers. Most manufacturers will to strengthen their global supply systems and meet demand by expanding their regional presence. Requirements are expected to surge for use in adhesives for hygiene materials, traffic paints, and other applications. Regions such East Asia and North America hold major portions of the global hydrocarbon resins market. Also, increasing demand from various applications is further anticipated to catalyze the growth of the hydrocarbon resins market through 2030.
Want to Know More?
Persistence Market Research has published a market research report on the hydrocarbon resins market, which contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides insightful analysis of the hydrocarbon resins market through different segments, namely, type, application, and region. The hydrocarbon resins market report also provides supply and demand trends, import-export scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the parent market.
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About the AuthorDivakar
Joined: January 23rd, 2017
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