APAC Petroleum Resin Market to See the Highest CAGR through 2021, States M&M in Its Topical Report Published at MarketPublishers.com27 Apr 2016 • by Natalie Aster
LONDON – Due to beneficial properties of petroleum resins (like low odor, high chemical resistance, low molecular weight, miscibility, inherently high solubility and low solution viscosity) the global market for petroleum resin is expected to gain traction in the upcoming five years. Through 2021, the market value is likely to grow at a 7.7% CAGR and will likely exceed USD 2.5 billion. Rising demand from such end-use sectors as building and construction and also increasing future opportunities for hydrogenated hydrocarbon resins are likely to be among the key growth drivers of the petroleum resins market worldwide.
Regionally, APAC petroleum resin market is predicted to be the fastest growing regional market, it will likely register the highest CAGR through 2021. Growth in this regional market will be attributed to increasing end-use markets (including automotive, personal hygiene, and tire) and enhancing demand from the developing countries.
The report “Petroleum Resin Market” prepared by MarketsandMarkets (M&M) delves deep into the global petroleum resin market and offers a detailed market segmentation analysis (by type, application, end-use industry and region). It also discloses data on the market size, volume, value, revenues and shares. The research provides valuable information on the key growth drivers, restraints, challenges and opportunities, as well as offers forecasts for the possible development of the world petroleum resin industry through 2021. The research publication explores the competitive landscape, includes an up-close review of the latest product developments, partnerships, mergers and acquisitions.
More market research publications by the publisher can be found at M&M page.