by C5 resins are widely used in various applications including asphalt modification, adhesives, printing inks, rubber, and others. C5 resins offer advantages like chemical resistance, durability, flexibility, and adhesion properties to materials. The growing petrochemical industry generates ample by-products containing C5 molecules which are further processed to manufacture C5 resins. Rising infrastructure construction activities coupled with expanding manufacturing sectors have boosted the demand for various adhesives, sealants, road construction materials where C5 resins find extensive applications. The global C5 Resins Market is estimated to be valued at US$ 992.82 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the C5 resins market size is the increasing use of sustainable and bio-based C5 resins. Rising environmental concerns and stringent regulations regarding VOC emissions have prompted manufacturers to develop resins from renewable feedstock. Researchers are focusing on developing techniques to efficiently extract C5 molecules from various plant and algal oils which can then be polymerized to synthesize bio-based resins. These sustainable resins offer equivalent performance as conventional petroleum-derived C5 resins while reducing dependence on fossil fuels. Additionally, advancement in refining techniques allowing greater catalytic cracking of heavier hydrocarbons into lighter fractions having C5 molecules is another notable trend expected to boost the production volumes of C5 resins.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the C5 Resins market is moderate as the market requires huge capital investments and technological expertise.
Bargaining power of buyers: The bargaining power of buyers is moderate as C5 Resins have applications in various end-use industries like construction, coatings, inks, adhesive, etc.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are established suppliers globally.
Threat of new substitutes: The threat of new substitutes is low as C5 Resins have unique properties that cannot be easily substituted.
Competitive rivalry: The competitive rivalry in the market is high among the key players due to technological advancements.
Key Takeaways
The global C5 Resins market is expected to witness high growth over the forecast period.
Asia Pacific region dominated the C5 Resins market in 2024 accounting for around 35% of the global market share. In Asia Pacific region, China holds the major market share of C5 Resins due to large production facilities and presence of key resin manufacturers.
Key players operating in the C5 Resins market are ABB Ltd., Siemens AG, Larsen & Toubro Limited, General Electric Company, Honeywell International, Inc., Rockwell Automation, Inc., Emerson Electric Co., Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., Schneider Electric SE, Alstom SA, and Fuji Electric. General Electric Company is one of the prominent players and has a well-established global distribution network to cater to increasing demand for C5 Resins.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
