C5 resins market

C5 Resins Market Is Estimated To Witness High Growth Owing To Increasing Demand from Paints and Growing Application in Printing Inks  

by


The C5 resins market is estimated to be valued at US$ 820.0 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
C5 resins are aromatic hydrocarbon polymers produced from petroleum-based feedstocks. They are predominantly used as additives in paints, printing inks, adhesives, and other applications to impart properties such flexibility, durability and water resistance. In paints and printing inks applications, C5 resins are combined with solvents and pigments to give a smooth and glossy finish along with stability.

Market Dynamics:
The growing demand for paints and coatings from construction and automotive industries globally is a major factor driving the growth of C5 resins market. C5 resins find wide application in production of paints and coatings due to their properties like flexibility, gloss and resistance to water and chemicals. Additionally, increasing use of printing inks in packaging, publishing and others is also fueling the market growth. The packaging industry is witnessing strong growth on the back of rising e-commerce activities, changing consumer lifestyles and growing demand for flexible packaging. This is expected to propel the demand for printing inks containing C5 resins as raw material during the forecast period.

SWOT Analysis
Strength: C5 Resins Market Size have high heat resistance, chemical resistance and electrical resistance properties. They impart good adhesion and water resistance to coatings. Easy availability and low cost of raw materials used for the production of C5 resins is also a major strength.
Weakness: Volatility in crude oil and naphtha prices leads to fluctuations in raw material costs. Strict environmental regulations regarding VOC emissions during the production process poses challenges.
Opportunity: Rising usage of C5 resins in road marking paints, printing inks, rubber products, and protective/marine coatings due to their versatile properties offers new opportunities. Growing construction and automotive industries in Asia Pacific further expands the market.
Threats: Substitution threat from sulfur-containing resins and non-resin based products limits the growth. Fluctuations in crude oil prices also poses threat due to dependency on petroleum products for raw materials.

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 application in coatings, printing inks, and adhesives industries. The easy availability of raw materials and low production cost further supports the market growth.

Regional analysis
Asia Pacific dominates the global C5 resins market, accounting for around 35% of the total share. Rapid industrialization and infrastructure development activities in China, India, Indonesia, and Vietnam drive the coatings, construction and automotive sectors in the region. The stringent environmental regulations in Western countries shift production bases to the Asia Pacific 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it