by 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 hydrocarbon based thermoplastics used extensively in printing inks, coatings, adhesives, rubber compounds, and other applications. Their properties such as improved chemical resistance, heat stability and water repellence make them suitable for wide range of end use industries.
Market key trends:
One of the key trends fueling the growth of the C5 Resins market is increasing demand from the paints & coatings industry. C5 Resins provide excellent performance attributes to coatings such as weatherability, resistance to chemicals and solvents. They help impart gloss, transparency and hardness properties to various coating formulations. Their low cost as compared to other synthetic and natural resins is further propelling their use in paints & coatings application. Regionally as well, Asia Pacific exhibits high market attractiveness led by rapidly growing end use industries in China and India.
Segment Analysis
The Global C5 Resins Market is dominated by the performance grade segment due to its wide application in printing inks, adhesives, paints & coatings, and other industries. The performance grade segment accounted for around 65% of the overall market share in 2022 owing to C5 resins’ excellent physical and chemical resistance properties that make them suitable for high-performance applications.
Key Takeaways
The global C5 resins market is expected to witness high growth, exhibiting a CAGR of 5.1% over the forecast period, due to increasing demand from various end-use industries such as printing inks, adhesives, paints & coatings, rubber, and others.
Regional analysis
Asia Pacific dominates the global C5 resins market and is expected to continue its dominance over the forecast period. This can be attributed to rising demand from developing nations such as China, India, Indonesia, and others on account of rapid industrialization and infrastructural development in the region.
Key players
Key players operating in the C5 resins market include 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.
The global C5 resins market size is expected to reach US$ 861.82 Mn in 2023 and is projected to surpass US$ 1,100 Mn by 2030, expanding at a CAGR of 5.1% during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
